Drilling rig should come over from USA during Summer 20267 Jan 2026 18:53
This was part of a filing in October 2025 by Pelican Aquisition Corporation pursuant to Rule 425
Events and timings can change.
"This month, the team began landing equipment to start building the 3-mile road from the coast to the first well. Road construction is expected to begin early next year. Next summer, the plan is for a barge to bring over the drilling rig to start the first well. A second pilot well is scheduled for fall 2026.
The team already is contracted with oilfield services giant Halliburton, IPT Well Solutions, and Stampede Drilling.
The aim is to drill the first well slowly, entering five different geologic zones and testing for oil and gas in each of them. “Once we are hopefully fortunate to discover an oilfield, the costs will certainly come down,” Price argued."