Greenland Energy Co

Snapshot

Greenland Energy is a pre-revenue oil explorer working Greenland's Jameson Land Basin. FY 2025 revenue was $0, with an operating loss of $1.1M, though a $1.2M net gain from non-operating items left net income positive.

What's Happening Right Now

• Thu 24th Sep '26 · Contract change: Greenland Energy and 80 Mile signed a Deed of Variation and Novation on September 23, 2026, extending both exploration well deadlines to December 31, 2028 and shifting drilling-permit costs onto Greenland Energy for a £500,000 fee.
• Thu 10th Sep '26 · Merger: Greenland Energy disclosed indicative terms for an all-share merger with joint venture partner 80 Mile plc, valuing 80 Mile at roughly £61.48 million; the company has until October 6, 2026 to make a firm offer or walk away.
• Wed 9th Sep '26 · Permitting delay: On August 11, 2026 the company said permitting for its Jameson Land Basin drilling has slipped to a winter 2027 target after Greenland's government requested a more extensive review.
• Wed 9th Sep '26 · Earnings: The company's first 10-Q since its March 2026 reverse-recapitalization showed zero revenue, a $4.9M Q2 net loss, and $37.4M in cash after an April 2026 offering that raised roughly $70M gross.
• Wed 9th Sep '26 · Takeover notice: Greenland Energy issued a formal UK Takeover Code notice to shareholders regarding disclosure requirements tied to its potential offer for 80 Mile plc.