80 Mile Plc (LSE:80M), together with its joint venture partner March GL, has announced a major oil discovery in Greenland’s Jameson Land Basin, identifying approximately 13 billion barrels of prospective oil resources. An independent assessment by Sproule ERCE confirmed the basin’s world-class potential, with 80 Mile’s net share estimated at 3.9 billion barrels.
The discovery positions the Jameson Land Basin as one of the most promising undrilled basins globally, representing a potential game-changer for both Greenland’s emerging energy sector and 80 Mile’s long-term growth trajectory. Drilling operations—fully funded by March GL—are scheduled to begin in the second half of 2026, marking a pivotal step toward unlocking the region’s resource potential.
The company said this milestone not only reinforces its commitment to responsible exploration and development but also highlights Greenland’s growing strategic relevance in the global energy landscape, as nations seek to diversify supply chains and reduce reliance on traditional producers.
More about 80 Mile Plc
80 Mile Plc is an exploration and development company listed on the London AIM Market, the Frankfurt Stock Exchange, and the U.S. OTC Market. The company focuses on high-grade critical and base metals in Tier 1 jurisdictions, with active projects in Greenland, Finland, and Italy. In addition to its mineral exploration operations, 80 Mile is expanding into sustainable fuels and clean energy solutions, pursuing strategic partnerships and acquisitions to create long-term shareholder value.
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