Pelican Acquisition Corporation to Merge with Greenland Exploration Limited and March GL to Form Greenland Energy Company
September 11, 2025
Pelican Acquisition Corporation (a special purpose acquisition company) announced a definitive merger agreement with Greenland Exploration Limited (GEL) and March GL Company. The combined transaction is expected to result in the creation of Greenland Energy Company, which will pursue March GL’s earn-in for up to 70% of 80 Mile’s Jameson liquid hydrocarbon project in Greenland, with 80 Mile retaining its remaining 30% interest. The transaction is expected to close in the fourth quarter of 2025.
- Buyers
- Pelican Acquisition Corporation, Pelican Holdco, Inc. (to be renamed Greenland Energy Company)
- Targets
- Greenland Exploration Limited, March GL Company, 80 Mile PLC (retains 30% of Jameson project licenses)
- Platforms
- Pelican Acquisition Corporation
- Industry
- Oil & Gas
- Location
- Greenland
- Transaction Type
- Buyout
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