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.
Markets May Exaggerate The Risks Of Venezuela And Greenland
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.