Pelican Acquisition (NASDAQ: PELI) partner Greenland Energy’s incoming CEO Robert Price said global energy markets may be underestimating structural risks to oil supply, citing geopolitical chokepoints such as the Strait of Hormuz and declining long-term investment in conventional production. In an exclusive interview with Benzinga, Price emphasized that frontier exploration efforts, including the company’s work in Greenland’s Jameson Land Basin, are aimed at addressing future supply constraints rather than short-term price movements, arguing that long-cycle conventional resources will remain essential to maintaining global energy security.
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About Greenland Exploration Limited
Greenland Exploration Limited is a Texas-based entity focused on developing strategic positions in North American energy assets. Through its partnerships, Greenland aims to deliver long-term shareholder value in a dynamic and evolving energy market.
At a glance
- Company
- Pelican Acquisition Corporation
- Ticker
- NASDAQ: PELI
Key figures
- Exploration well costs funded by March GL
- 100%
- Exploration wells
- up to two
- Potential interest in the basin
- up to 70%
People
- Robert PriceIncoming CEO of Greenland Energy
Products and programs
About March GL Company
March GL Company, a privately-owned Texas Corporation, entered into an agreement with 80 Mile for drilling to commence at the Jameson oil and gas basin in Greenland. March GL will fund 100% of the costs associated with up to two exploration wells, which are designed to delineate the sedimentary structure and energy potential of the Jameson Land Basin. In return, March GL will earn through 80 Mile’s subsidiary company up to 70% interest in the entire basin. March GL Company will be appointed as the Field Operations Manager.
For more information, visit the company’s website at www.MarchGL.com
About Pelican Acquisition Corporation
Pelican Acquisition Corporation is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Pelican is not limited to any particular industry or geographic region in identifying prospective targets.
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In brief
Pelican Acquisition says Greenland Energy incoming CEO Robert Price warned in a Benzinga interview that oil markets may not fully account for risks to future supply. He pointed to geopolitical transit routes, including the Strait of Hormuz, and reduced long-term investment in conventional production. Price said Greenland Energy’s frontier exploration work in the Jameson Land Basin is intended to address potential future supply constraints, rather than near-term price changes. He also argued that long-development conventional resources will continue to matter for global energy security. The release additionally describes a March GL Company agreement related to drilling in the basin: March GL is to fund costs for up to two exploration wells and may earn up to 70% interest in the basin through an 80 Mile subsidiary.
Key takeaways
- Greenland Energy incoming CEO Robert Price discussed potential structural threats to global oil supply in a Benzinga interview.
- Price cited geopolitical chokepoints and lower long-term investment in conventional production.
- Greenland Energy’s Jameson Land Basin exploration is framed as a response to possible future supply constraints.
- March GL is to fund up to two exploration wells and may earn up to 70% interest in the basin.
