1/8 - @80milePLC has signed an extension letter on its Jameson hydrocarbon JV in East Greenland. The headline number: £500,000 in cash, paid to #80M on signing. What's changed, and why the timing is interesting 🧵 #80M

2/8 - The JV partner has a new name. March GL (MGL) is novating its rights and obligations to @GL_Energy_Co That follows the merger of Pelican Acquisition Corporation, Greenland Exploration Limited and MGL, announced in March. #80M | $GLND

3/8 - The bigger operational change is on permits. $GLND will now be solely responsible, at its own cost, for every drilling permit, licence, environmental approval and consent needed for both Jameson wells. That burden sits with the partner, not @80milePLC. #80M

4/8 - In return, the drilling deadlines move. Well 1 longstop: 31 Dec 2026 to 31 Dec 2028 Well 2 longstop: 31 Dec 2027 to 31 Dec 2028 So first drilling could come later than first planned. @80milePLC is being paid for that extra time. #80M

5/8 - Beyond that, the JV Agreement stays in full force, with no other material changes. Cash in, the partner carries the permitting workload and cost, and the rest of the deal stands as it was. #80M

6/8 - The timing is worth noting. On 22 September, Greenland, Denmark and the US announced a trilateral security and defence agreement, reaffirming Greenland's sovereignty and expanding defence cooperation. #80M believes this should support long-term investment confidence.

7/8 - Permitting still sits with the Greenlandic authorities, subject to environmental, community and regulatory requirements. Executive Director Roderick McIllree describes Jameson as exposure to "one of the world's last remaining untested hydrocarbon basins". #80M