Company: PELI
Filing Date: 2025-10-23
Form Type: 425
Source: 0001829126-25-008346
Chunk: 4

Company: Pelican Acquisition Corp
Filing Date: 2025-10-23
Form: 425
Chunk 4
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 if successful, could produce more than 1.2 billion barrels of oil combined, with upside of as high as a combined 4 billion barrels.

“We know the oil is there. The question is, ‘Where is it trapped?’” Price said. “This is not a one in 10 shot. This is a very high percentage of discovering what could be one of the largest oilfields in the world.”

Energy analyst Lewis Lawrence finds it interesting that the government extended the exploration licenses last year, despite the moratorium. The political winds in Greenland pushing for independence from Denmark seem to lean more in favor of welcoming the oil sector in some form, he said.

“There seems to be a little bit of flip-flopping internally with Greenland as to whether they want to progress with some kind of oil and gas future or not,” Lawrence said.

And, while Greenland Energy may represent a longshot bid, Lawrence added, “If a big enough discovery were made, then it could compete globally.”

About Greenland Exploration Limited

Greenland Exploration Limited is a Texas-based entity focused on developing strategic positions in North American energy assets. Through its partnerships and future acquisitions, Greenland aims to deliver long-term shareholder value in a dynamic and evolving energy market.

About March GL Company

March GL Company, a privately-owned Texas Corporation, entered into an agreement with 80 Mile for drilling to commence at the Jameson oil and gas basin in Greenland. March GL will fund 100% of the costs associated with up to two exploration wells which are designed to delineate the sedimentary structure and energy potential of the Jameson Land Basin. In return, March GL will earn through 80 Mile’s subsidiary company up to 70% interest of the entire basin. March GL Company will be appointed as Field Operations Manager. More information is available on its website www.MarchGL.com.

About Pelican Acquisition Corporation

Pelican Acquisition Corporation is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Pelican is not limited to any particular industry or geographic region in identifying prospective targets.

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Additional Information About the Proposed Transaction and Where to Find It

In connection with the Business Combination, Holdco intends to file relevant materials with the SEC, including a registration statement on Form S-4, which will include a document that serves as a proxy statement/prospectus. The proxy statement/prospectus will be sent to all SPAC shareholders