Greenland Energy acquired the right to earn a majority stake in the project from British exploration company 80 Mile by funding the drilling programme. Under the agreement, Greenland Energy can obtain up to a 70% interest, while 80 Mile retains 30%. The potential resource is substantial. Company-backed estimates have suggested billions of barrels of prospective oil resources in the basin, although these figures refer to oil that has not yet been discovered and therefore carry considerable geological and commercial uncertainty. Greenland Energy’s own regulatory filings acknowledge that there is no certainty that the prospective resources will actually be discovered or that they would be economically or technically recoverable.