(WO) — Greenland Energy Company has amended its farm-out agreement with 80 Mile plc for the Jameson Land basin in East Greenland, extending contractual deadlines for two planned exploration wells through the end of 2028.
Under the amended agreement, the longstop date for the first exploration well has been extended from Dec. 31, 2026, to Dec. 31, 2028. The deadline for the second well has been extended from Dec. 31, 2027, to the same Dec. 31, 2028 date.
Greenland Energy has also assumed the rights and obligations previously held by its wholly owned subsidiary March GL Company under the farm-out agreement.
The company will take responsibility for securing and maintaining permits and approvals required for the Jameson Land drilling program. 80 Mile will remain responsible for other government consents required under the farm-out agreement and will assist with Greenland Energy’s permitting activities.
“This amendment provides the additional time and a clear framework for us to continue advancing the Jameson Land program while the required permitting process progresses,” Greenland Energy CEO Robert Price said. “The revised timetable allows us to preserve the substantial operational preparation already undertaken while aligning future activity with the necessary regulatory approvals.”
Greenland Energy will pay 80 Mile a £500,000 fee in connection with the amendment. The underlying farm-out agreement remains in effect.
The revised deadlines provide additional time for the East Greenland exploration program but do not establish specific drilling dates for either well.
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