80 Mile sees Jameson boost from Greenland Energy Company float Proactive uses images sourced from Shutterstock
80 Mile PLC (AIM:80M, OTCQB:BLLYF) shares climbed, rising around 10% to 1.23p, as the helium firm’s Jameson project saw an implied valuation of some $148 million, as partner Greenland Energy Company began trading on NASDAQ (under the ticker GLND).
GLND ended its debut day, Thursday 26 March, with a market capitalisation of US$345 million.
The Nasdaq listing follows Pelican Acquisition Corporation’s acquisition of Greenland Exploration Limited, folding Pelican, GLND and March GL into a single US-listed vehicle focused on the Jameson hydrocarbon project in East Greenland. Under the joint venture terms, GLND can earn up to 70% by funding the full cost of two exploration wells, while 80 Mile keeps a 30% interest through White Flame Energy A/S.
Jameson covers about two million acres and has been described by the company as one of the world’s largest undrilled onshore hydrocarbon basins.
An independent Sproule ERCE report estimated gross unrisked recoverable prospective oil resources of 13.03 billion barrels on a P10 basis, with about 3.9 billion barrels net to 80 Mile under the earn-in structure.
SCDrilling is planned for the second half of 2026, subject to regulatory approvals.