Pelican Acquisition Corp. Merger to Launch Greenland Drilling Targeting Potential 13-Billion-Barrel Arctic Basin

Pelican Acquisition Corp. (NASDAQ: PELI) is proceeding with a merger to establish Greenland Energy Company, which intends to drill the first modern exploration wells in Greenland's remote Jameson Land basin. This frontier petroleum system is estimated by some geologists to contain over 13 billion barrels of recoverable oil. The project consolidates Texas-based explorer March GL, Greenland Exploration Ltd., and Pelican Acquisition Corp., with veteran oil executive Robert Price slated to lead the combined entity upon the transaction's closure on March 17, after which it will trade under the ticker GLND.

The drilling campaign will focus on structures identified through approximately 1,800 kilometers of seismic data, originally gathered by Atlantic Richfield in the 1980s and recently reanalyzed with contemporary imaging technology. Success in these wells could verify one of the largest undeveloped petroleum systems in the Arctic, potentially positioning Greenland as a new strategic energy frontier. This development occurs against a backdrop of escalating geopolitical competition and renewed interest in Arctic resources. A report by OilPrice.com's Tom Kool provides further context on the project's formation and significance.

March GL Company, a key partner in the venture, has committed to funding 100% of the costs for up to two exploration wells designed to assess the sedimentary structure and energy potential of the Jameson Land Basin. In return, March GL will earn up to a 70% interest in the entire basin through a subsidiary of 80 Mile and will serve as the Field Operations Manager. Additional details about the company are available at https://www.MarchGL.com. The broader implications of this exploration effort extend beyond commercial interests, touching on global energy security and environmental considerations in a sensitive polar region.

The transaction and subsequent drilling activities represent a significant step in Arctic energy exploration, with potential ramifications for international energy markets and regional geopolitics. The full terms of use and disclaimers applicable to this content are provided on the InvestorBrandNetwork website at http://IBN.fm/Disclaimer. Investors and observers are cautioned that forward-looking statements in the announcement involve risks and uncertainties, as detailed in the company's SEC filings, and actual results may differ materially from current expectations.