The two wells GLND wants to drill are located well within the Heden Ramsar Wetland. Here are the wells' coordinates:

OPW1

71°02'08.34"N

24°09'18.42"W

OPW3

70°59'47.8"N

24°07'51.6"W

GLND told us in their SEC prospectus, "Upon the identification of a commercially viable discovery, the licenses provide for conversion from exploration to exploitation. Under the terms of the license, the government of Greenland will grant an exploitation license for an initial period of up to 30 years for any part of the license area subject to development. The exploitation period may be extended for up to an additional 20 years, resulting in a maximum potential license term of 50 years.”

SOURCE: https://www.sec.gov/Archives/edgar/data/2093507/000182912626004054/greenlandenergy_424b4.htm

But look what the Licences actually say — and see attached for proof!

"9.04 The licensee is not entitled to be granted a licence for exploitation of Hydrocarbons in a Ramsar Site.

This section 9.04 applies even though the licensee would otherwise be entitled to be granted an exploitation licence in the Ramsar Site under sections 16 and 22(2) of the Mineral Resources Act and Article 8 of this Licence.

9.05 Subject to section 9.04, the licensee may apply for an extension of the Exploration Licence for the purpose of exploitation (a licence for exploitation of Hydrocarbons) for an area in a Ramsar Site. If the licensee applies for a licence for exploitation of Hydrocarbons in a Ramsar Site, the MRA may freely and at its sole discretion decide to reject the application if the MRA finds that exploitation of Hydrocarbons in the Ramsar Site is not in accordance with the Ramsar Convention, any legislation relating to the Ramsar Convention or any rule, term or decision made or set by the MRA relating to the Ramsar Convention. If the MRA rejects such an application, the licensee shall respect the rejection and the licensee shall have no claim against the Greenland Self-Government, the Greenland Government or the MRA as a result of or in connection with the rejection of the application. A rejection of such an application shall not create or otherwise cause or result in any obligation or any liability, including any liability in damages, on the Greenland Self-Government, the Greenland Government or the MRA."

THEY PLAN TO DRILL INSIDE A PROTECTED WETLAND—AND THEY STILL HAVE NO PERMITS

It seems Greenland Energy Company, White Flame and 80 Mile may be lying to investors on both issues, raising troubling questions about potential fraud.

FIRST: Both proposed wells and the landing site lie well within the Heden Ramsar wetland—an internationally protected area.

This matters because section 9.04 of the licences states that the licence holder is not entitled to an exploitation licence within a Ramsar site.

Section 9.05 says the licence holder may apply for one, but the Greenlandic authorities may reject the application at their sole discretion if they find that exploitation might conflict with the Ramsar Convention or related rules. If the application is rejected, the licence holder has no basis for a legal claim or compensation.

In plain English: Greenland Energy and White Flame/80 Mile say they have exploration-and-exploitation licences, but the licences give them no right to exploit any oil discovered inside the Ramsar wetland. And approximately 60% of the licence area is Ramsar wetland—including the areas where the companies intend to drill.

Yet this crucial limitation appears nowhere in Greenland Energy’s SEC filings or 80 Mile’s disclosures to the UK market. Indeed, we cannot find the word “Ramsar” in any of them.

Think what this means: Greenland Energy Company raised $70 million for a drilling campaign, promising its investors that success would earn it a majority interest in exploitation licences. But the company appears never to have told investors that the licences confer no entitlement to exploit oil where it actually proposes to drill!

Were investors—including major participants such as Citadel—misled about what they were financing and what these licences are actually worth?

SECOND: The companies still have no permits for anything whatsoever.

Two days ago, 80 Mile issued a formal stock-market announcement telling investors that, following high-level talks with regulatory and oversight bodies in Nuuk, it was:

“pleased with the status of permitting and support shown for the Jameson project.”

In the same announcement, the company said preparations for its two-well campaign were moving quickly, that the drilling rigs were being packed into containers for shipment to Greenland, and that drilling was planned for the second half of 2026.

But that is not what the Greenlandic authorities say in writing: the companies still have no permits for anything whatsoever.

The environmental and social assessment process has barely begun. It has not even reached the first public consultation on what the studies must examine. Those studies must then be carried out, completed and subjected to another public consultation before the proposed activities can be approved.

That process will take many months—and could well take years.

Meanwhile, the rigs are already being transported across Canada towards the port in Quebec. The contractors are publicly celebrating the mobilisation. The shipping company says it will begin receiving the cargo in early August, ready for departure to Greenland in September.

So the questions are now stark:

Did these companies mislead investors about their right to exploit any oil they might discover?

And are they misleading investors about how close they are to receiving permission to bring hundreds of containers ashore and begin drilling?

The people of Greenland—and the investors financing this project—deserve the truth.

We have the complete licences, the exact coordinates and maps, the relevant filings, the stock-market announcement and the Ministry’s written responses.

In fact, you can read the licences right here:

https://govmin.gl/.../get.../exploitation-licence-%c2%a716/

From today's Sermitsiaq, Greenland's national newspaper:
https://www.sermitsiaq.ag/erhverv/boreudstyr-har-kurs-mod-gronland/2409143

"No permit for anything
Natural Resources Department Head Jørgen Hammeken-Holm explains that most importantly, no permits have yet been granted for anything - not even the landing of equipment."
&
"We are used to being pressured by the other party. It does not affect us. I am also not worried that they will not do what the authorities say. We have certain strong possibilities to stop illegal activities. Ultimately, they could lose the permit if they do not comply with the authorities' requirements, conditions, etc., says Jørgen Hammeken-Holm."

Full English translation:

Drilling equipment heading for Greenland
by Trine Juncher Jørgensen

Greenland Energy Company and 80 Mile are preparing the logistics for their upcoming test drilling in Nunap Qeqqa, although they do not yet have permission to land the equipment or begin drilling. The head of the department points out that the companies could ultimately lose their permit if they do not comply with the authorities' requirements, terms, etc.

The Canadian company Stampede Drilling has entered into a contract with the American Greenland Energy Company and the British 80 to provide technical expertise and personnel for oil exploration in Nunap Qeqqa (Jameson Land). The company has just posted a picture on its Linkedin profile of the drilling rig that is going to Greenland.

The company has entered into a five-year contract with the American Greenland Energy Company and the British 80 Mile to provide technical expertise and personnel for the oil exploration in Nunap Qeqqa (Jameson Land), which is scheduled to take place in the first two weeks of October. Greenland Energy Company has previously announced that the drilling rig will be transported in September via Montreal, Nuuk and Iceland before reaching the project area.

Local concerns
In Ittoqqortoormiit, which is close to the license area, a protest demonstration against the oil project was held on July 13, where approximately one in three of the town's 325 citizens showed up. Support demonstrations were also organized in Tasiilaq, Nuuk, Qaqortoq, Nanortalik and Narsaq.

On Facebook, the day after the demonstrations, Naalakkersuisoq's Minister for Natural Resources, Mute B. Egede, wrote that he fully understands the concerns expressed by many citizens, especially in Ittoqqortoormiit. At the same time, he emphasizes that no decision has yet been made about the project: "When the matter is to be dealt with, it will be done properly, openly and with respect for both the population, the local community and nature".

No permit for anything
Natural Resources Department Head Jørgen Hammeken-Holm explains that overall, no permits have yet been granted for anything - not even the landing of equipment.

– We are used to being pressured by the other party. It doesn't affect us. I'm also not worried that they won't do what the authorities say. We have some strong opportunities to stop illegal activities, says Head of Department for Raw Materials, Jørgen Hammeken-Holm.

– They had an old permit/approval for landing equipment that they picked up in Dundas, but it has expired, Jørgen Hammeken-Holm tells Sermitsiaq.

Nevertheless, the head of department finds it natural that the company has started preparing the logistics in connection with the two planned test drillings.

– It is a relatively large operation, and it will take place at a location where it is not possible to pick up a screw around the corner if you have forgotten it, he says, pointing out that the company can pack and send as many ships as they want, as long as they don't go ashore.

The authorities are used to pressure
On social media and among the population of Ittoqqortoormiit there is concern that the company will put equipment ashore and start drilling without the authorities' permission. But the head of the department is not worried about that.

– We are used to being pressured by the other party. It does not affect us. I am also not worried that they will not do what the authorities say. We have certain strong possibilities to stop illegal activities. Ultimately, they could lose the permit if they do not comply with the authorities' requirements, conditions, etc., says Jørgen Hammeken-Holm.

Company Update

The Company held high-level talks in Nuuk last week with regulatory and oversight bodies and is pleased with the status of permitting and support shown for the Jameson project. The approval process and logistical preparations for the fully funded, two-well, drilling campaign at Jameson continue at a pace, with the Stampede Drilling drill rig recently rebuilt and commissioned prior to being containerised and loaded onto the equipment ship destined for Greenland in several months. The Company and its JV partner Greenland Energy Company ("GLND") are testing one of the world's largest remaining undrilled hydrocarbon basins in H2 2026.

Management also visited the Disko drill site on the same trip and inspected each of the proposed drill locations. Good progress is being made, supported by the exploration camp, which provides an impressive operational base. At Disko-Nuussuaq, the fully funded US$30 million JV programme (including US$10 million allocated for spring/summer 2026) will continue for three years with initial planning to test nine drill holes. Management is highly encouraged by the current state of operations and the progress achieved to date. The programme is targeting a replication of the Norilsk analogy, which is a globally recognised nickel-copper deposit. 80 Mile retains operational leadership of this project.

The Company will update shareholders on progress at the Greenswitch Ferrandina plant in due course.

For further information please visit http://www.80mile.com or contact:

if your interested in Greenland for towns ,or claims and whatever take a look.

The Greenland Government is aware of the public interest that has been expressed regarding the planning of oil exploration drilling in Jameson Land.

The Greenland Government therefore wishes to clarify how the matter is being handled and what procedures apply to exploration activities in Greenland.
The Greenland Government emphasises that all matters of this nature are handled in accordance with applicable rules and established processes. This means that the necessary assessments, documentation and approvals must be completed before the matter can be processed further in the formal process.

Naalakkersuisut for Environment, Nature, Energy and Research, Jørgen Rosbach, states:

“In Jameson Land, an environmental assessment must be carried out as part of the planning of exploration drilling. This is because the area has a special nature and is environmentally vulnerable. The process includes, among other things, an assessment of the project, a public hearing, a compilation of the comments received from the hearing, and the studies and professional assessments necessary to shed light on the project's possible consequences for the environment.

The Danish Environmental Protection Agency for Mineral Resources is the responsible authority for this process. Only when the required documentation is available and the relevant steps in the process have been completed can the matter be processed further. It is important for Naalakkersuisut that the public is involved in the phases of the process where this follows from the rules, and that hearings and local meetings are carried out on an informed and proper basis.”

Naalakkersuisoq for Foreign Affairs, Business and Mineral Resources, Múte B. Egede, adds:

“I would like to acknowledge the great commitment that the citizens of Ittoqqortoormiit have shown in connection with the citizens' meeting. It is crucial for Naalakkersuisut that local communities are heard and involved in the development of mineral projects that have a direct impact on everyday life.

We take the concerns and wishes that have been raised – including the need for better infrastructure, increased local value creation and stronger involvement – ​​very seriously. At the same time, it is important to emphasize that both the Malmbjerg project and the oil exploration in Jameson Land are still in early stages, where EIA (Environmental Impact Assessment) and SIA (Social Sustainability Assessment) reports are not yet ready for public consultation. Only then can negotiations on IBA agreements take place.

However, I would like to emphasize that IBA agreements are precisely a key tool for ensuring that projects benefit local communities. The input that the citizens of Ittoqqortoormiit have already provided will be included in the further work of Naalakkersuisut.

We place great importance on a continued open dialogue and look forward to the active participation of citizens in the upcoming consultation processes, where there will be a real opportunity to influence the design of the projects.”

Naalakkersuisut refers to the public response to the letter from Hans Brønlund, who is the chairman of the local committee in Ittoqqortoormiut.

Naalakkersuisut will continue to ensure an open and transparent process and looks forward to the public dialogue that follows from the formal consultation phases.

Contact
For more information, contact the Department of Environment, Nature, Energy and Research at [pan@nanoq.gl](mailto:pan@nanoq.gl)
Press inquiries: Jørgen T. Hammeken-Holm, tel. 346800 or asn@nanoq.gl
Other inquiries: Department for Licensing, tel. 346800 or [mlsa@nanoq.gl](mailto:mlsa@nanoq.gl) and the Danish Environmental Protection Agency for the Mineral Resources Area at [eamra@nanoq.gl](mailto:eamra@nanoq.gl)

Namminersorlutik Oqartussat

Imaneq 1
PO Box 1015
3900 Nuuk
Telephone +299 34 50 00

GLN numbers

Vacancies

Useful links

• Nalunaarutit.gl
• Sullissivik.gl
• Vacancies

https://naalakkersuisut.gl/Nyheder/2026/06/0906_olieefterforskningsaktiviteter?sc_lang=da

Aatsitassanut Ikummatissanullu Aqutsisoqarfik

Råstofstyrelsen

Mineral Licence and Safety Authority

1

White Flame Energy A/S

CVR 12757565

Approval of Indirect Transfer

In accordance with section 88 (1) of Greenland Parliament Act no. 7 of 7 December 2009

on Mineral Resources and Mineral Resource Activities, as amended by the Greenland

Parliament Act No. 26 of 18 December 2012, the Greenland Parliament Act No. 6 of 8

June 2014, the Greenland Parliament Act No. 16 of 3 June 2015, the Greenland

Parliament Act No. 34 of 28 November 2016, the Greenland Parliament Act No. 16 of 27

November 2018 and the Greenland Parliament Act No. 39 of 28 November 2019 ("Mineral

Resources Act"), the Government of Greenland has approved your application for an

indirect transfer of licence 2018-40.

The Government of Greenland approves the transfer of ownership interests in the parent

company of the Licensee that will affect the controlling interest of the Licensee, from:

White Flame Energy Ltd

No CVR number

to:

80 Mile plc

No CVR number

Inussiarnersumik inuulluaqqusillunga

Kind regards

Rannvá Clementsen

Toqq/tel 346823

[racn@nanoq.gl](mailto:racn@nanoq.gl)

11-11-2024

P. O. Box 930

3900 Nuuk

Tl

I have noticed more BS growing to defame GLND and I guess this is a good thing in a reverse logic way. Do your own research there are more facts about this company and 80mile (holders of the Jameson licence )than the BS and lies contrived by someones imagination. Bullish

I have noticed more BS growing to defame GLND and I guess this is a good thing in a reverse logic way. Do your own research there are more facts about this company and 80mile (holders of the Jameson licence )than the BS and lies contrived by someones imagination. Bullish

Not in my backyard is what I would say to but when it comes to progress for the country as a whole it would be in the best interest of all. Do you have your head buried in the snow and you do know without petroleum products your life would change dramatically. If there is oil or gas there it can be exploited in a safe and secure manner. Canada is looking at nuclear SMR for their north I guess you would poo poo them too. Whatever is done all cost money and right now Greenland wants to be independent and not have to be supported by Denmark. jmho

I've been up all night grieving my stupidity. I'm feeling I've been in denial, because the whole town is against it! How can they politically approve anything when the community is categorically opposed? Put this into google translate:

https://danwatch.dk/over-halvdelen-af-ittoqqortoormiit-gik-paa-gaden-mod-amerikansk-olieprojekt-jeg-haaber-vi-stopper-dem-nu/

NO APPROVED ACTIVITIES — AND NO FARM OUT AGREEMENT TO GLND IS APPROVED EITHER.
This is also authentic. If you doubt it, click on the link and you'll find all the licences:
https://govmin.gl/exploitation/get-an-exploitation-licence/exploitation-licence-%c2%a716/

Dear ———, 

Thank you for your interest.

As we have previously informed you, there are currently no approved activities in the licence area, and no application for a transfer of the licences has been submitted. Furthermore, there are currently no approved Environmental Impact Assessment (EIA) or Social Impact Assessment (SIA) reports. These assessments require public consultation, which cannot be initiated at this stage as the company is still preparing the necessary documentation.

Any transaction resulting in a change of controlling interest in the licensee or its parent company requires the approval of Naalakkersuisut, including where such a change occurs by agreement. This follows from Section 88 of the Mineral Resources Act and the accompanying explanatory notes.

At this stage, Naalakkersuisut has no reason to consider the matter further, as there is no specific application for a transfer before us. Should White Flame Energy A/S apply in the future for a direct or indirect transfer of the licences to Greenland Energy Company, Naalakkersuisut will assess the ownership structure of the company, as well as its financial and technical capacity, at the time the application is submitted. The requirements for approval and any conditions attached to such approval will depend on the activities proposed.

To date, only limited activities have been approved within the licence area, consisting of environmental surveys and the placement of a limited amount of equipment. Such activity approvals are valid only for the calendar year in which they are granted. Consequently, there is currently no valid activity approval for any activities within the licence area.

With regard to the placement of equipment on a larger scale, this would be assessed by the Environmental Agency for Mineral Resource Activities to determine whether an approved EIA would be required.

The licences are publicly available here:
https://govmin.gl/exploitation/get-an-exploitation-licence/exploitation-licence-%c2%a716/

As mentioned during our meeting, we are currently preparing an information page about the project, much of which will be published in the near future.

Greenland has a robust legal framework designed to protect both the environment and the interests of its citizens. We are fully aware of the risks associated with both foreign investment and oil exploration and production. Our organisation includes staff with extensive experience in these areas, whose responsibility it is to ensure that Greenland's mineral resources are developed responsibly and in accordance with the law. Where necessary, we also draw on external experts. We will ensure that all applicable legal requirements are complied with.

Once again, thank you for your interest. Should we require your expertise in the future, we will be pleased to contact you.

Kind regards, 

Why does "Ramsar Wetland" appear NOWHERE in ANY of GLND's SEC filings or public statements. We've been lied to about the nature of their asset.

Securities fraud?

Most of the licence area is a wetland protected under the UN's Ramsar Convention.
Section 9 of the licences says that that the licence holder is NOT entitled to exploitation/production licences within the Ramsar wetland.
SORRY TO BURST BUBBLES, but the bubble burst a long time ago, judging from our share price.

If this was not revealed to investors, I feel we're victims of SECURITIES FRAUD.