80 mile plc have the only licence to drill jameson.Pelican
Acquisition Corp $PELI is in the process of merging with Greenland Exploration Limited to form Greenland Energy Company which is expected to trade under the ticker $GNLD on the Nasdaq in coming days.
They have the only licence to drill for Oil in #Greenland at the Jameson oil field which is estimated to have approximately 13 billion barrels of gross un-risked recoverable prospective oil resources which based on current spot prices for major crude oil benchmarks, is approximately $800 billion to $867 billion USD.
80 mile PLC owns 30% of this under the ticker #80m which trades in London, and also under the ticker $BLLYF on the OTC markets.
As of mid-January 2026, 80 Mile's entire market capitalization is approximately £43.71 million ($55.7 million), suggesting that the market is currently valuing the company's total assets at significantly less than the appraised value of the Jameson stake alone which is expected to change once the $GNLD imminent Nasdaq listing goes live hence the recent uplift in its share price. This listing is viewed by analysts as a primary catalyst for realigning 80 Mile's share price with its asset valuation.
The project's first two exploration wells are fully funded by the partner, with 80 Mile retaining its 30% "free carry" interest.
Heavy equipment has been mobilized to East Greenland, with drilling (spudding) scheduled to begin in the second half of 2026.
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Acquisition Corp $PELI is in the process of merging with Greenland Exploration Limited to form Greenland Energy Company which is expected to trade under the ticker $GNLD on the Nasdaq in coming days.
They have the only licence to drill for Oil in #Greenland at the Jameson oil field which is estimated to have approximately 13 billion barrels of gross un-risked recoverable prospective oil resources which based on current spot prices for major crude oil benchmarks, is approximately $800 billion to $867 billion USD.
80 mile PLC owns 30% of this under the ticker #80m which trades in London, and also under the ticker $BLLYF on the OTC markets.
As of mid-January 2026, 80 Mile's entire market capitalization is approximately £43.71 million ($55.7 million), suggesting that the market is currently valuing the company's total assets at significantly less than the appraised value of the Jameson stake alone which is expected to change once the $GNLD imminent Nasdaq listing goes live hence the recent uplift in its share price. This listing is viewed by analysts as a primary catalyst for realigning 80 Mile's share price with its asset valuation.
The project's first two exploration wells are fully funded by the partner, with 80 Mile retaining its 30% "free carry" interest.
Heavy equipment has been mobilized to East Greenland, with drilling (spudding) scheduled to begin in the second half of 2026.