u/Either-Fan9152

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/

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?

Allow me the painful task of BURSTING BUBBLES. Could be worse, but in fact our share price shows that the bubble is already long burst. I feel completely cheated, so without further ado...

NO DRILLING THIS YEAR — PROBABLY NEVER.
THE COMMUNITY — AND COUNTRY — IS 100% OPPOSED TO US, WITH NEARLY 100% OF ABLE-BODIED RESIDENTS IN ITTOQQORTOORMIIT COMING TO THE PROTEST (pop 325, 100 away on holiday = 225. 180 of those came to the protest.)
AND PRIME MINISTER JENS-FREDERIK NIELSEN ADDRESSING THE ANTI-GLND PROTEST IN NUUK ON 13 JULY 2026.

!!! BUT HERE IS THE REAL BOMB — Last Friday, 17 July 2026, Greenland's Department of Natural Resources Permanent Secretary has answered a journalist's serious questions as follows — LOOK AT NUMBER 2!
(UPCOMING NEWS COVERAGE WILL PROVE THIS IS AUTHENTIC):

1. I read in *Sermitsiaq* and *KNR* that there are currently professional applications to conduct stratigraphic drilling. Do those permits also cover oil drilling?

**No, these are not oil drilling operations in any way.**

***

**2.** Can you provide an overview of what Greenland Energy is actually authorized to do, and which permits/applications are currently being processed?

**They do not have any active permits or approvals for anything at all.**

***

**3.** Does Greenland Energy have permission to bring 300 containers ashore in East Greenland in September? What would such a permit require?

**No. We are currently looking into what requirements, if any, would need to be imposed from our side. These would relate to environmental protection, safety, and financial security to ensure that cleanup can be carried out afterwards. However, nothing concrete has been established yet.**

***

**4.** How far has Greenland Energy progressed with its Environmental Impact Assessment (EIA) and Social Impact Assessment (SIA) reports in connection with the project?

**They have submitted a draft of the so-called Terms of Reference for the EIA and SIA. These Terms of Reference must be submitted for public consultation. They describe the topics and investigations that must be included in the actual EIA and SIA work.**

**Finally, it is also important to understand that Greenland Energy is merely the operator of an activity. They are not the license holder. We communicate exclusively with the responsible license holders.**

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.