- Global energy security is increasingly shaped by geopolitical risk, making stable, allied jurisdictions strategically valuable for future oil supply
- Greenland Energy Company is advancing the first modern drilling campaign in the Jameson Land Basin, where historical exploration and modern seismic point to significant hydrocarbon potential
- The company has fully funded its initial two-well program and expects drilling to begin with OPW-1 in the fourth quarter of 2026
Energy security has become more than a commodity story. It has become a geopolitical priority. Supply disruptions, regional conflicts, shipping chokepoints, and sanctions have repeatedly shown how dependent global economies remain on reliable access to oil and natural gas. While the energy transition continues to expand renewable generation, conventional hydrocarbons remain indispensable for transportation, manufacturing, aviation, defense, and petrochemicals. That reality has renewed interest in developing energy resources inside politically stable, Western-aligned jurisdictions.
Greenland Energy Company (NASDAQ: GLND) is positioning itself around exactly that premise. Rather than pursuing mature producing regions, the company is focused on Greenland’s Jameson Land Basin, one of the world’s largest undrilled onshore petroleum basins, where decades of historical exploration are now being combined with modern seismic imaging and an approaching drilling campaign.
Energy Security Begins with Stable Supply
For decades, global oil markets have absorbed repeated disruptions tied to geopolitical events. CEO Robert Price points to the 1973 oil embargo as an early reminder of how quickly shortages reshape economies. More recently, instability around critical shipping routes such as the Strait of Hormuz has reinforced the case for diversifying supply away from politically volatile regions.
Greenland offers a different proposition. As an autonomous territory within the Kingdom of Denmark and closely aligned with Western interests, it provides a stable legal framework, established regulatory oversight, and long-term strategic importance to both Europe and North America. For countries seeking secure future sources of energy, that distinction matters. Price frames the question facing policymakers not as where future oil will come from, but whether new production can be developed in jurisdictions that reduce geopolitical risk while maintaining reliable supply.
Revisiting an Opportunity Decades in the Making
The Jameson Land Basin is not a new geological concept. During the 1970s and 1980s, Atlantic Richfield Company (“ARCO”) invested the equivalent of more than $275 million in seismic acquisition, geological mapping, sampling, and infrastructure after identifying the basin as one of Greenland’s most promising prospects. The work stopped before drilling, not because of poor geology, but because collapsing oil prices and Arctic fiscal conditions made development uneconomic at the time.
Today’s environment is considerably different. Modern reprocessing of roughly 1,800 kilometers of legacy seismic has improved the dataset and refined drilling targets. Independent engineering analysis by Sproule-ERCE estimates up to 13 billion barrels of gross un-risked 3U prospective recoverable oil across the basin, though those figures remain prospective and unconfirmed by drilling. Additional confidence factors include natural surface oil and gas seeps, biomarker similarities to producing North Sea petroleum systems, and modern seismic reinterpretation completed across the basin.
From Exploration Story to Operational Execution
Unlike many frontier explorers that remain years from field activity, Greenland Energy has shifted into execution mode. The company controls rights across approximately 2.1 million acres through three exclusive licenses covering the basin. Through its agreement with 80 Mile and White Flame Energy, it can earn up to 70% working interest after completing two exploration wells.
That license position carries an added layer of scarcity. Greenland has halted the issuance of new hydrocarbon exploration licenses, while Greenland Energy’s three are grandfathered, meaning the basin cannot simply be re-entered by a competitor seeking friendly Arctic supply. Operational planning is moving forward, with heavy equipment mobilized, long-lead items purchased, and an experienced team in place that includes Halliburton for logistics, IPT Well Solutions for engineering and project management, and Stampede Drilling for drilling operations. The company has raised approximately $81 million over the past year, which management says fully funds the Phase I program: OPW-1 in the fourth quarter of 2026, followed by OPW-6.
A Frontier Basin with Strategic Relevance
The U.S. Geological Survey estimates the Arctic holds roughly 13% of the world’s undiscovered conventional oil and about 30% of its undiscovered conventional natural gas. Within that base, the Jameson Land Basin stands out as one of the few large onshore petroleum systems extensively studied but never drilled. That combination of geological potential, historical validation, modern technology, and geopolitical stability distinguishes the opportunity. Exploration risk remains significant and commercial success will depend on drilling results, but the company is advancing a project that speaks to both resource development and a growing global emphasis on secure supply.
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 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.
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