80 Mile extends Greenland hydrocarbon drilling deadlines to 2028

80 Mile plc has agreed to revised terms for its Jameson liquid hydrocarbon joint venture in Greenland. As part of the agreement, the company will receive £500,000 in cash.

The amendment extends the longstop dates for two planned exploration wells in the Jameson Land Basin to December 31, 2028. Following an internal corporate reorganization, March GL Company will transfer its rights and obligations under the joint venture to Greenland Energy Company.

Under these new terms, Greenland Energy Company will assume sole responsibility, at its own expense, for obtaining and maintaining all necessary drilling permits, environmental approvals, access rights, and other regulatory permissions required for the Jameson Project 1 and Jameson Project 2.