---
schema_version: "secwatch.filing_event.v1"
accession: "0001829126-26-010531"
form_type: "8-K"
ticker: "GLND"
cik: "0002093507"
company_name: "Greenland Energy Co"
filed_at: "2026-09-29T13:23:18+00:00"
generated_at: "2026-10-12T13:44:29.596743+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Greenland Energy rebuts Fugazi Research short report, says 13B-barrel figure is high-end 3U prospective resource

## Summary
- Letter states GLND has no earnings, no production, no proved reserves and has not drilled its first well; 13B-barrel 3U case is unrisked, with 1.1B low and 4.2B best estimates from Sproule ERCE.
- Company says Fugazi miscast burn: $4.6M six-month operating cash use versus $17.5M capitalized into the asset and $10.5M in prepaid exploration costs and deposits.
- GLND raised about $70M cash from share and warrant sales; warrants at $5.00 and $15.00 strikes would bring roughly $110M if fully exercised.
- Company paid £500,000 to preserve its right to earn up to a 70% working interest for two more years; environmental baseline work at the planned well site was approved in August.
- Letter cites $231,000 in the bank behind the going-concern note, MaloneBailey's PCAOB matter over quality controls, not-yet-effective internal controls, and director Carol Craig.

## SEC filing metadata
- accession: 0001829126-26-010531
- form_type: 8-K
- ticker: GLND
- cik: 0002093507
- company_name: Greenland Energy Co
- filed_at: 2026-09-29T13:23:18+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2093507/000182912626010531/0001829126-26-010531-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2093507/000182912626010531/greenlandenergyco_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-26-010531
- JSON: https://secwatch.observer/filing/0001829126-26-010531.json
- Plain text: https://secwatch.observer/filing/0001829126-26-010531.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.