Incoming Greenland Energy CEO Robert Price cautioned that geopolitical chokepoints such as the Strait of Hormuz and declining investment in conventional oil production pose significant long-term supply risks.

Pelican Acquisition’s partner has launched a frontier exploration program in Greenland’s Jameson Land Basin, with March GL Company funding up to two wells to delineate the basin’s sedimentary structure and earn up to 70% interest.

This alliance positions Pelican Acquisition to capitalize on long-cycle conventional resources, reinforcing its strategy to navigate future supply constraints and pursue high-value energy assets through its blank check structure.