80 Mile (AIM:80M), the small-cap explorer with projects in Greenland, Finland and Italy, said its planned drilling programme at the Jameson Land Basin Project in East Greenland will now slip to winter 2027.
The company had targeted the 2026/27 winter season, but ongoing engagement with Greenlandic authorities means permitting and regulatory approval will take longer than expected.
Jameson spans roughly 8,429 square kilometres across three exploration licences and is held through 80 Mile's wholly owned subsidiary, White Flame Energy A/S, which manages all permitting and regulatory engagement with the Greenland Government and Kommuneqarfik Sermersooq.
An independent 2025 assessment by Sproule ERCE estimated the basin holds 13.03 billion barrels of recoverable oil on a P10 basis, with 80 Mile's retained interest equating to 3.9 billion barrels.
Separately, the company confirmed it has received a formal warning from the Government of Greenland over equipment landed at Nerlerit Inaat airport near Ittoqqortoormiit, in contravention of existing regulations.
80 Mile said it takes the warning seriously and has given undertakings on future logistics movements.
"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," said Rod McIllree, Executive Director.
The company said it will provide a further update on timing once there is greater certainty roughly the permitting process, with regulators currently guiding toward winter 2027 drilling.
News Intelligence what this means for the company
80 Mile has pushed its Jameson Land Basin drilling programme back a full year to winter 2027, citing permitting delays and a formal regulatory warning from Greenland over equipment landed without proper authorisation. The slip moves the target from the 2026/27 winter season that the company had been guiding toward, and comes as Greenland Energy funded the Jameson Land programme after its US$70.0m public offering in April 2026 to support field operations—meaning capital raised for a 2026/27 programme now sits idle for an extra year while regulatory engagement continues.
- The delay directly impacts Greenland Energy, the joint-venture partner that committed US$70m to fund the drilling and is obligated to drill two wells totalling ~7,000 metres at an expected cost of US$70m to earn 70% of the project.
The one-year slip materially extends the path to value realisation for a project with an estimated 3.9 billion barrels of recoverable oil in 80 Mile's retained interest. The formal regulatory warning signals tighter scrutiny from Greenland authorities on operational conduct, raising execution risk beyond permitting timelines alone.
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