Current Report · Items 1.01, 7.01, 9.01 · 8-K
Greenland Energy Company
GLNDNASDAQEQUITYCurrent
Entry into a Material Definitive Agreement · Regulation FD Disclosure
Item 1.01 Entry into a Material Definitive Agreement. On September 23, 2026, Greenland Energy Company, a Texas corporation (the “Company”) entered into a Deed of Variation and Novation (the “Deed”) with 80 Mile plc (AIM:…
Filed Sep 24, 2026Accepted Sep 24, 2026, 8:00 AM EDTCIK 2093507Accession 0001829126-26-010363
Company context
We are an exploration-stage oil and gas company led by a team of industry veterans and bolstered by a deep bench of consultants with decades of experience in the energy and natural resources industries. Our primary mission is to unlock the frontier hydrocarbon potential of the Jameson Land Basin in East Greenland, a 2-million-acre onshore licensed area through application of modern exploration technologies. With an estimated 13.03 billion barrels of gross un-risked recoverable oil, we are leveraging strategic partnerships to execute the first modern onshore drilling campaign in the region, slated for 2026. March GL, our wholly-owned subsidiary, holds rights under exclusive licenses held by third parties to an over 2-million-acre area located in the Jameson Land region of East Greenland, where its licenses cover the majority of the basin. As of October 2025, independent resource estimates prepared by Sproule ERCE indicate that March GL’s licenses hold the potential resources of 13 billion barrels of oil (an estimate of the 3U gross un-risked prospective recoverable oil). The Jameson Land Basin is located in central eastern Greenland, forming a large onshore sedimentary basin within the Jameson Land peninsula. This peninsula lies along the southeastern continental margin of East Greenland, primarily between approximately 70°N and 72°N latitude. The basin represents one of the last remaining undrilled North Atlantic Margin basins and covers a structurally complex area with signi
Current securities
Disclosure sections
Items 1.01, 7.01, 9.01Select an item to read the extracted section. The as-filed document remains the primary evidence.
Item 1.01Item 1.01 - Entry into Material Agreement
Item 1.01 Entry into a Material Definitive Agreement.
On September 23, 2026, Greenland Energy
Company, a Texas corporation (the “Company”) entered into a Deed of Variation and Novation (the “Deed”) with 80
Mile plc (AIM: 80M) (“80 Mile”), and March GL Company, a wholly-owned subsidiary of the Company “(March GL”),
relating to the Farm-Out Agreement dated September 9, 2025 (the “Agreement”) between 80 Mile and March GL concerning oil
exploration licenses and drilling projects in the Jameson Land Basin in Greenland (the “Jameson Projects”).
The Deed amends and extends the Agreement by:
1) having March GL transfer its rights and obligation under the Agreement to the Company; 2) amending the longstop date for the drilling
of the first exploration well at the Jameson Land Basin to be extended from December 31, 2026 to December 31, 2028; 3) amending the longstop
date for the drilling of the second exploration well at the Jameson Land Basin to be extended from December 31, 2027 to December 31, 2028;
and 4) having the Company, at its own cost and expense, be solely responsible for obtaining, maintaining, renewing, complying with and,
where necessary, amending all drilling permits, access rights, environmental and social permits and licenses, consents, approvals authorizations
and other permissions required under applicable law or by a governmental, regulatory or other competent authority in connection with the
Jameson projects.
Pursuant to the Deed, and in consideration for
amending and extending the Agreement, the Company will pay 80 Mile £500,000 in cash within five (5) business days for the stated
changes to take effect.
The forgoing description of the Deed does not
purport to be complete and is subject to, and is qualified in its entirety by reference to, the full text of the Deed attached hereto
as Exhibit 10.1 on this Current Report on Form 8-K, and is incorporated herein by reference.
Item 7.01Item 7.01 - Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure.
On
September 24, 2026, the board of directors and management of the Company issued a press release announcing the extension and
amendment of its joint venture agreement with 80 Mile concerning oil exploration licenses and drilling projects in the Jameson Land
Basin in Greenland (the “Press Release”).
A copy of the Press Release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated by reference into this Item 7.01.
The information in this Item 7.01 and Exhibit 99.1 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Forward-Looking Statements
This Current Report on Form 8-K contains certain forward-looking
statements 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 (the “Exchange Act”). All statements, other than statements of historical
fact included in this Current Report on Form 8-K, are forward-looking statements. Words such as “anticipate,” “believe,”
“continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,”
“plan,” “possible,” “potential,” “project,” “seek,” “should,”
“target,” “will,” “would,” and similar expressions may identify forward-looking statements, although
not all forward-looking statements contain these words. These forward-looking statements are based on current expectations, estimates,
assumptions and projections and are subject to risks and uncertainties that could cause actual results to differ materially from those
expressed or implied by such statements. These risks and uncertainties include, but are not limited to those described under “Risk
Factors” in our Registration Statement on Form S-1, as amended, and in our other filings with the Securities and Exchange Commission.
Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary
in material respects from those projected in these forward-looking statements. Forward-looking statements speak only as of the date they
are made. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise, except as required under applicable securities laws. You should not place undue reliance on any forward-looking statements.
Filed exhibits (1)
EX-99.1 (by filename) greenlandenergy_ex99-1.htmExhibit 99.1
Greenland Energy Company Announces Extension
of Jameson Land Farm-Out Agreement with 80 Mile plc
DENVER, September 24, 2026 /PRNewswire/ - Greenland
Energy Company (the “Company”) (NASDAQ: GLND) today announced that it has entered into a Deed of Variation and Novation (the
“Deed”) with 80 Mile plc (AIM: 80M) (“80 Mile”) and March GL Company, a wholly owned subsidiary of the Company
(“March GL”), relating to the parties’ existing Farm Out Agreement concerning the Jameson Land Basin in East Greenland.
Under the Deed, Greenland Energy Company has
assumed March GL’s rights and obligations under the Farm-Out Agreement. The longstop date applicable to the first exploration well
has been extended from December 31, 2026 to December 31, 2028, and the longstop date applicable to the second exploration well has been
extended from December 31, 2027 to December 31, 2028.
Under the Deed, Greenland Energy Company will
take sole responsibility, at its own cost, for securing and maintaining the 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 provide rea…
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