80 Mile PLC, the AIM, FSE, and OTC listed exploration and development Company with projects in Greenland, Finland and Italy, has provided an update on the planned drilling programme at its Jameson Land Basin Project in East Greenland.
The Company has been targeting the commencement of drilling during the 2026/27 winter season. However, following ongoing engagement with the Greenlandic authorities, the Company now expects the planned drilling programme to be delayed. This delay relates to the time required to complete the permitting and regulatory approval process and does not reflect any change to the Company's plans for Jameson. 80 Mile remains fully committed to the Project and intends to commence drilling as soon as the necessary approvals have been received and the programme can be undertaken safely and responsibly.
80 Mile's wholly owned subsidiary, White Flame Energy A/S, is the 100% holder of the Jameson Land Basin exploration licences and is solely responsible for all aspects of assessment, permitting and regulatory engagement with the Government of Greenland, Kommuneqarfik Sermersooq and other relevant authorities. All field activities, Environmental Impact Assessments ('EIA'), Social Impact Assessments ('SIA') and any permit to drill are subject to approval by the Greenland Government.
The Company continues to work closely with the relevant authorities and will provide a further update on the timing of the drilling programme once there is greater certainty around the permitting process. Current guidance by the regulators is for winter 2027 drilling.
Regarding recent media coverage of equipment being landed on the project area in contravention of existing regulations 80M confirms that the Company has received a formal warning from the Government of Greenland concerning the landing of equipment at Nerlerit Inaat airport, near Ittoqqortoormiit in East Greenland.
For the sake of completeness, it's important to highlight that the equipment was predominantly accommodation and camp containers taken from Dundas, the Company's Titanium project in the far northwest of Greenland and sent to Nerlerit Inaat airport. Ahead of the landing, both GLND and 80M sought and received permission from and entered into a contract to lease storage space with Greenland Airports A/S in their industrial storage area adjacent to the airport for which storage fees are payable to Greenland Airports A/S. The Company acknowledges that this storage arrangement with Greenland Airports A/S required a separate permit from the Mines regulator even though Greenland Airports are 100% owned by the Government.
80 Mile takes this warning seriously however and has given undertakings regarding future logistic movements.
Jameson comprises approximately 8,429 km² (2.1 million acres) held under three exploration licences and represents a large-scale hydrocarbon opportunity on the Atlantic Margin. The planned drilling programme was designed to test several, stacked, high-priority reservoirs with multi billion-barrel oil potential.
Rod McIllree, Executive Director, commented: 'While we are disappointed that the timing of the Jameson drilling programme has been impacted, the Company remains fully committed to advancing this highly prospective project. We continue to engage with Greenlandic authorities and will commence drilling as soon as the necessary approvals are in place. Jameson represents a significant exploration opportunity for 80 Mile, and we look forward to progressing the programme and testing our priority targets once the regulatory process is complete.'
Source: 80 Mile PLC
