RE: £30m Mcap is just far too low10 Sep 2025 20:54
80 Mile PLC (AIM: EIGHT) – Just Had Its 30% Stake in Greenland Oil Project Valued at $92M… on a £30M Market Cap 💥
This one’s flying under the radar… but maybe not for much longer.
Today, 80 Mile PLC confirmed that its 30% stake in the Jameson oil basin in Greenland has been independently valued at $92 million, thanks to a major NASDAQ SPAC merger involving its partner March GL.
Here’s the play:
March GL is earning into 70% of the Jameson project by fully funding two deep exploration wells (3,500m+ each)
That 70% stake has now been valued at $215 million
By extension, 80 Mile’s remaining 30% = $92 million valuation
Current market cap? Just £30 million (~$38M)
That’s 3x the company’s value — just for one asset.
But it gets better...
🛠️ Drilling Imminent, Fully Carried
80 Mile is fully carried for the upcoming drilling — no dilution, no capex
Halliburton and other top-tier contractors signed on
Drilling equipment is being mobilised now
Greenland government has approved logistics
A new NASDAQ entity ("Greenland Energy Company", ticker: GLND) will house the asset going forward
80 Mile retains 100% ownership until drilling is complete — then holds 30% via its Danish subsidiary White Flame Energy A/S.
🌍 Why This Is Big
Jameson is one of the largest undrilled oil prospects left globally
Historical estimates suggest up to 40 billion barrels of oil equivalent
Over $275M already spent on exploration by majors like ARCO
This isn’t a pipe dream — it’s now backed by serious US money and institutions
🧠 Management Quote (and it's a good one):
"Our 30% stake is now valued at $92M — not by cautious UK consultants, but by real-world oil experts. This project is huge on a global scale."
🔥 TL;DR:
80 Mile has a $92M asset on a £30M market cap
No spend, no dilution — they’re carried through drilling
NASDAQ backers and Halliburton on board
Greenland fully approved the operation
The re-rate looks inevitable if/when the wider market catches on
Not financial advice, obviously. But this has all the ingredients of a small-cap moonshot — with proper backing, upcoming catalysts, and a clear mismatch between asset value and market cap.
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