- The centerpiece of Greenland Energy’s investment thesis is the Jameson Land Basin itself.
- The earn-in structure is a key feature of Greenland Energy’s model.
- The company’s capital position is equally central to the near-term execution story.
With a 2026 drilling window fast approaching and $70 million in fresh capital already secured, Greenland Energy (NASDAQ: GLND) is making a compelling argument that the Jameson Land Basin in East Greenland, one of the largest undeveloped Arctic hydrocarbon positions in the world, is no longer a story about geological potential but about execution. In an updated investor presentation, the Houston-based energy exploration company outlines in detail its proposed strategy to advance exploration of the Jameson Land Basin through modern technology, a clearly defined earn-in structure and a set of near-term drilling catalysts that management believes are achievable within the current calendar year.
The centerpiece of Greenland Energy’s investment thesis is the Jameson Land Basin itself, a roughly 2.1-million-acre position in East Greenland covered by three exclusive exploration and exploitation licenses. According to the company, an independent engineering estimate places the basin’s gross unrisked 3U prospective recoverable oil at up to approximately 13.0 billion barrels. While that figure represents prospective resources that have not been confirmed by drilling, the sheer scale of the estimate, combined with what the company describes as more than $275 million in historical investment in the basin adjusted to today’s dollars, helps explain why Greenland Energy believes the opportunity warrants serious attention. The company has identified 58 prospective drill sites across the basin’s approximately 1,800 kilometers of existing 2D seismic coverage.
The historical foundation underpinning that resource estimate goes back decades. Between the 1970s and 1990, ARCO, the same company whose geological persistence ultimately led to the 1968 discovery of North America’s largest oil field, conducted extensive exploration in the Jameson Land Basin, including geological mapping, gravity and magnetic surveys, 2D seismic acquisition, surface seep analysis, and basin modeling.
According to the company, ARCO internally viewed Jameson Land as one of its most significant undeveloped Arctic opportunities. What halted development was not geology but economics: The oil price collapse of the 1980s reduced project viability, and corporate restructuring ultimately curtailed ARCO’s exploration budgets. The basin remained undrilled.
Fast-forward to 2014, when a company called White Flame was awarded the Jameson Land licenses and commissioned the first nongovernment reassessment of the basin since the 1990s, reprocessing historical 2D seismic data and completing Full Tensor Gradiometry and LiDAR work. In 2021, 80 Mile completed its acquisition of White Flame, consolidating control of the three exploration licenses. The current path to the drill bit was set in March 2025, when March GL, the entity through which Greenland Energy holds it earn-in rights, agreed to fund the first two exploration wells.
The earn-in structure is a key feature of Greenland Energy’s model. The company has rights to earn up to 70% working interest across the Jameson Land license position upon the completion of two exploration wells: OPW-1 and OPW-6. The structure is milestone driven: 50% working interest is earned upon completion of the first well, with the full 70% earned after the second. OPW-1 is targeted for the third quarter of 2026, with OPW-6 planned for the fourth quarter of 2026.
That timeline is not theoretical; heavy equipment was mobilized to East Greenland by barge in October 2025, and by the first quarter of 2026, equipment was in place to begin road and pad construction leading to the planned drill site. Construction of a three-mile road to the drill site is planned as part of the current phase.
Greenland Energy’s ability to execute on that timeline rests heavily on its execution partners, and the updated presentation devotes significant attention to the team assembled for the OPW-1 and OPW-6 campaigns. Stampede Drilling is the primary drilling contractor, bringing Arctic-capable equipment and operational experience. Halliburton provides integrated services and well planning. IPT Well Solutions delivers engineering support and well planning services. Desgagnés, one of Canada’s most experienced Arctic marine operators, is handling logistics and Arctic shipping. The combination of a seasoned drilling contractor, one of the world’s largest oilfield services companies and a proven Arctic logistics operator is designed to address what the presentation itself acknowledges are formidable operational challenges: remote Arctic conditions, extreme weather, seasonal access windows and limited existing infrastructure.
The company’s capital position is equally central to the near-term execution story. In late April 2026, Greenland Energy closed a $70 million public offering, pricing 17.5 million shares at $4 per share with accompanying common warrants exercisable at $5, with ThinkEquity acting as sole placement agent. CEO Robert Price described the raise as fully funding the company’s exploration plan, stating it positions Greenland Energy to deploy capital into OPW-1 and OPW-6 procurement and secure mill capacity for long-lead materials. It also funds the mobilization of the equipment, crews and logistics needed to advance the program toward planned October 2026 drilling operations. Earlier this year, the company listed on NASDAQ with an implied enterprise valuation of approximately $215 million at closing.
One important element of the current opportunity that the presentation highlights is the regulatory context. Greenland has announced that it would stop issuing new hydrocarbon exploration licenses, meaning the existing Jameson Land licenses held through White Flame and 80 Mile are grandfathered, and no new entrants can secure similar rights to the basin. That structure effectively makes the Jameson Land license position a one-of-a-kind opportunity in today’s regulatory environment.
As the global conversation around Arctic energy security intensifies, driven by geopolitical realignments and the strategic significance of untapped hydrocarbon resources in stable, allied jurisdictions, the combination of scale, historical validation, grandfathered license status and a fully funded near-term drilling campaign makes Greenland Energy’s updated investor presentation worth reading carefully.
For more information, visit the company’s website at www.GreenlandEnergyCo.com.
NOTE TO INVESTORS: The latest news and updates relating to GLND are available in the company’s newsroom at https://nnw.fm/GLND ibn.fm/GLND
Forward-Looking Statements
This communication contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained herein other than statements of present or historical fact, including, without limitation, statements regarding Greenland Energy Company’s (the “Company”) future financial performance, business strategy, operations, financial position, estimated revenues and losses, projected costs, prospects, plans, objectives of management, and expected benefits of the Company’s recent business combination, are forward-looking statements. Forward-looking statements are generally identified by the use of words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “project,” “forecast,” “potential,” “predict,” or the negative of these terms or similar expressions, although not all forward-looking statements contain such identifying words.
These forward-looking statements are based on management’s current expectations, assumptions and beliefs regarding future events and are based on information currently available to the Company. These statements involve a number of risks and uncertainties, many of which are difficult to predict and are beyond the Company’s control, and actual results may differ materially from those expressed or implied by these forward-looking statements. Factors that could cause actual results to differ materially include, among others: (i) Exploration and Geological Risks, including the Company’s status as a development-stage company with no operating history, revenues, or proved reserves; the inherent uncertainty in prospective resource estimates, including that the 13 billion barrel estimate is based on undiscovered accumulations with no certainty of discovery or commercial viability; geological complexity arising from limited seismic data coverage, pervasive igneous intrusions, faulting patterns, and significant Tertiary uplift creating thermal maturity uncertainty; the fact that the basin has never produced a commercial discovery despite decades of study dating back to the 1970s, and a 2008 USGS report stating less than a 10% chance of containing a technically recoverable hydrocarbon accumulation; and high-cost frontier exploration with estimated well costs of $40 million for the first well and $20 million for subsequent wells; (ii) Operational and Environmental Risks, including the challenges of operating in a remote Arctic location with extreme climate, harsh weather, limited daylight, no existing infrastructure, and seasonal access windows for equipment and personnel; drilling hazards such as blowouts, equipment failures, well control events, environmental releases, and accidents inherent in oil and gas operations; reliance on third-party contractors; and climate change scrutiny, as operations in Greenland face increasing opposition from environmental groups and institutional investors due to Arctic drilling concerns; (iii) Regulatory and Political Risks, including the 2021 Greenland drilling moratorium, and while licenses are grandfathered, future regulatory changes could jeopardize operations; geopolitical tensions, including U.S. interest in acquiring Greenland and Greenland’s internal independence movements that could affect operations; permit requirements, as drilling requires Environmental Impact Assessment approval and Field Activities Application approval from Greenlandic authorities; and forfeiture risk, as failure to meet drilling milestones could result in loss of the Company’s right to earn working interests; (iv) Financial and Capital Risks, including significant capital requirements and the need for substantial funding beyond current resources to complete the drilling program; commodity price volatility, as oil, gas, and NGL prices are highly volatile and will heavily influence project viability; a long development timeline during which market conditions may change significantly before potential production, unlike short-cycle shale projects; going concern uncertainty and substantial doubt about the Company’s ability to continue as a going concern without additional financing; and energy transition risk, as global demand for oil may decline due to electric vehicle adoption, renewable energy policies, and changing consumer preferences; and other risks and uncertainties as set forth in the Company’s Prospectus filed with the Securities and Exchange Commission pursuant to Rule 424(b)(4) under the Securities Act on April 29, 2026, in the section titled “Risk Factors”.
Forward-looking statements speak only as of the date they are made. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
