Pelican Acquisition Corporation (NASDAQ: PELI) partner Greenland Energy’s incoming CEO Robert Price cautioned in an exclusive interview with Benzinga that global energy markets may be underestimating structural risks to oil supply. Price pointed to geopolitical chokepoints such as the Strait of Hormuz and declining long-term investment in conventional production as key factors that could constrain supply. The full interview is available at https://ibn.fm/vyGU3.
Price emphasized that frontier exploration efforts, including Greenland Energy’s work in Greenland’s Jameson Land Basin, are aimed at addressing future supply constraints rather than short-term price movements. He argued that long-cycle conventional resources will remain essential to maintaining global energy security. The Jameson Land Basin is a focus area for 80 Mile and its partner March GL Company, which is funding up to two exploration wells to delineate the sedimentary structure and energy potential of the basin.
Greenland Exploration Limited, a Texas-based entity, is developing strategic positions in North American energy assets through partnerships. March GL Company, a privately-owned Texas Corporation, has agreed to fund 100% of the costs for up to two exploration wells in the Jameson Land Basin. In return, March GL will earn up to a 70% interest in the entire basin through 80 Mile’s subsidiary and will serve as Field Operations Manager. More information is available at www.MarchGL.com.
Pelican Acquisition Corporation is a blank check company formed to effect 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. The latest news and updates relating to PELI are available in the company’s newsroom at https://ibn.fm/PELI.
Forward-looking statements in this article involve risks and uncertainties that may cause actual results to differ materially. These include factors beyond management's control as detailed in the Company's filings with the SEC. Undue reliance should not be placed on forward-looking statements, and all parties undertake no duty to update this information unless required by law.
