Pelican Acquisition Corporation - Ordinary Shares (PELI)

Pelican Acquisition (NASDAQ: PELI) partner Greenland Energy’s incoming CEO Robert Price said global energy markets may be underestimating structural risks to oil supply, citing geopolitical chokepoints such as the Strait of Hormuz and declining long-term investment in conventional production. In an exclusive interview with Benzinga, Price emphasized that frontier exploration efforts, including the company’s work in Greenland’s Jameson Land Basin, are aimed at addressing future supply constraints rather than short-term price movements, arguing that long-cycle conventional resources will remain essential to maintaining global energy security.

Pelican Acquisition (NASDAQ: PELI) announced that Ashiq Merchant has been appointed chief financial officer of Greenland Energy Company ahead of the proposed business combination between the two entities. Upon completion of the transaction, which is expected to follow the March 17, 2026 Extraordinary General Meeting of shareholders, the combined company is expected to trade on Nasdaq under the ticker symbol “GLND,” with Merchant overseeing financial operations, capital markets strategy, governance and regulatory compliance as the company advances development plans for the Jameson Land Basin.

Pelican Acquisition (NASDAQ: PELI) announced that the leadership team behind the formation of Greenland Energy Company has entered into a strategic logistics agreement with Canadian maritime group Desgagnés to support cargo transportation for planned drilling operations in Greenland’s Jameson Land Basin. The agreement, coordinated with and approved by Royal Arctic Line, provides specialized ice-class vessels and Arctic beach-landing capabilities required to mobilize equipment and crews for the upcoming exploration campaign. The arrangement was executed by March GL Company, which along with Greenland Exploration Ltd. is set to merge with Pelican; upon completion of the business combination, the combined entity is expected to operate as Greenland Energy Company and list on Nasdaq under the ticker symbol “GLND.”

Pelican Acquisition (NASDAQ: PELI) is moving forward with a merger that will create Greenland Energy Company, which plans to drill the first modern exploration wells in Greenland’s remote Jameson Land basin — a frontier petroleum system that some geologists believe could contain more than 13 billion barrels of recoverable oil. According to a report by OilPrice.com’s Tom Kool, the project brings together Texas-based explorer March GL, Greenland Exploration Ltd. and Pelican Acquisition Corp., with veteran oil executive Robert Price expected to lead the combined company once the transaction closes March 17 and the entity begins trading under the ticker GLND.