Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 254

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 254
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 & Associates II, PLLC.

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<div align='center'>INFORMATION ABOUT MARCH GL</div>

Overview

March GL is a Denver, Colorado headquartered, Texas energy resources company that is focused on unlocking Greenland’s vast hydrocarbon potential through application of modern exploration technologies. The Company’s primary asset and focus is its license at the Jameson Land Basin of Greenland. March GL is led by a team of industry veteran professionals and is bolstered by a deep bench of consultants with decades of experience in the energy and natural resources industries.

March GL holds exclusive licenses to over 2-million acre area in the Jameson Land Basin, where its licenses cover the majority of the basin. As of October 2025, the independent resource estimates prepared by the Sproule ESCE indicate that March GL’s licenses hold the potential resources of 13 billion barrels of oil. The Company is currently not operating any wells but is preparing to drill its first well in the basin. March GL, through a series of complex series of partnerships and agreements, will own 70% interest in the licenses covering the Jameson Basin after drilling the first 2 wells of the project.

References in this section to “we,” “our,” “us,” “the Company” or “March GL” generally refer to March GL, LLC and its consolidated subsidiaries.

Business Model

The business model for March GL is based on exploration and resource development in the frontier basins of Greenland. The core tenants of our business strategy are as follows:

| ● | Acquire and Earn: We focus on securing and developing large-scale, unexplored high-potential acreage through exclusive licenses, such as our exclusive licenses to 2-million acres of Greenland’s Jameson Land Basin, Our strategy is centered on the structure to earn up to 70% of the basin by funding the initial drilling for the first 2 wells. |

| ● | Explore and De-Risk: core tenant of our strategy is innovative exploration using modern technologies to unlock Greenland’s hydrocarbon potential. We leverage previous investment and modern engineering to advance the drill-ready project. Our Phase I exploration program targets high-graded locations (OPW-1, OPW-6, OPW-9) where volumetric estimates exceed the economic levels required to support the drilling program. A By drilling the initial wells, which target multiple formations, we aim to de-risk several subsequent wells and horizons to inform future exploration decisions. We utilize a disciplined risk assessment approach, noting that our frontier