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Pelican Acquisition Corp $PELI + Greenland Energy Co The Transaction
Recorded: March 16, 2026 Duration: 1:04:30Space Recording
Full Transcription
Thank you. Thank you. All right.
How are we doing today, everybody?
Hopefully, sound is coming through loud and clear.
As usual, happy to be back for another Small Cap Investing show with the Story Trading crew.
And we are here to talk about all the amazing things that's happened in the world of small caps.
And also after this on the second half, we do have an interview segment as well.
But as usual, it's always great to be here with you guys.
My name is Taj helping out the Wolf Crew.
Oh, didn't get my second profile up here,
but I will say that it's always a pleasure to be here
with Story Trading and all the amazing guys that's on the panel.
So if you have not done so already, highly appreciate it.
If you just drop a little comment in the bubble below.
Also, if you have any friends, colleagues
that would be interested in small cap investing
and the conversation that we'll be having here,
I would love if you'd share this out and really help the show.
The more people that are in here, the better the show, the production, if you will.
And we can have a great conversation kicked off.
So I'll pass it over to Ben.
How's it going on your side?
And we can go around the panel to hear how everybody's doing.
Yeah, absolutely.
And yeah, the second half of this show, we are interviewing an interesting company.
It's ticker symbol P-E-L-I.
It's up 13% today.
It's an oil company in Greenland.
It's about to switch over.
It's a SPAC.
They're about to switch over tomorrow, I think, or Wednesday to a new ticker symbol.
And a very timely situation.
Greenland oil stops reacting well today.
So definitely have some interesting questions for that management team on the second half of this show.
Also, so glad to see Money Mark is back on the panel.
We missed some here last couple of months.
So I don't want to take too much time up because I haven't heard from in a while.
So let me just quickly give my macro thoughts.
Obviously, everything's about, you know, price of oil right now.
Not even war, but price of oil, right?
For me, everything's dependent on the price of oil.
I've been looking at Brent crude, and I think that $100 level is a demarcation point that
if we stay above it too long, I think it turns into a black swan.
And, you know, my base case is it is a black swan right now.
Unless, you know, something changes and there's a quick, quick resolution or a quick sustained move below $100. But as the longer Brent crude stays over $100, the more I'm going to see this
as a COVID crash situation or Liberation Day crash situation. So I am on actually red alert right now
and looking for the strong possibility that all the indices break below the 200 DMA. But again, that's contingent on oil staying above $100.
And for the time being, it is.
And obviously, here in the small cap show,
high oil prices, not good for rates.
We have FOMC this Wednesday,
which I can't imagine anything good will come out of that.
It's just going to be now uncertainty.
It's going to be like,
we can't know anything about anything because, we can't, you know,
know anything about anything because now we have oil, another variable, and it's over 100. So our
hands are tied and we can't tell you if or when we're going to cut rates. It's going to be something
like that on Wednesday, I believe. So I'm firmly in red alert, but I keep an open mind and watch
the news daily and watch the price of oil closely. But for right now, my base case, again, is if we sustain over 100, then we can have something
like a 15, 20% correction from peak on the major indices.
And with that, let me turn over to Mark, who's raised his hand anyway.
But let's get him here.
Adam is a speaker.
Mark, go ahead.
I just, oh, wait, there was an error adding Mark.
All right.
Can someone else try to add Mark here?
Yeah, I added him.
It's like what happened, it seems like he's bouncing up and down.
So, Mark, if you just hop out and come back in, I think it's just X is glitching.
But once it reconnects it should be
able to get you back up here so all right so we'll wait for him to uh hop off and come right back
but yeah let's do these macro thoughts quickly so we have a chance to talk about a favorite
stock of ours as well before 130 let's go to laptop yeah hi so yeah i agree about oil uh you know if you look at the markets they have me a little
befuddled today because i i think i figured out the cues pretty well today um three days in a row
i think i've been uh seeing this big sell-off around 10 30 in the morning but the market still don't seem to have taken in the full
awareness of how oil is going to impact every facet of the global economy in our lives
everything is based on oil we're an oil driven global economy right now because of energy
and i just for me it's it's a false pump if it's the administration or anybody that's trying
to prop up the markets. I think the markets are going to come to the realization at some point
in reality, and Wednesday might do it with Powell, who now coming off the triumph of getting his
subpoenas squashed, might throw the last nail in the coffin.
So I'm very bearish on everything except for oil.
And I'll just throw that back and keep it brief.
Yeah. I mean, can anything possibly good come out of FOMC Wednesday?
I mean, I can't imagine it.
Yeah, I don't think so i i feel like i could write exactly what uh powell
can say right exactly pretty pretty obvious money mark go ahead welcome back yeah if he's done with
his macro i'll i'm not i'm not interjecting with his uh i was just letting you know i'm back no
no no go go we're doing rapid fire today. Go ahead. Oh, okay. Great.
Well, it's good to be back. It's been a long time and not much has changed since the last
live I was here. I was spending week after week after week saying it's a yellow alert
and AI is not a bubble. Those were the two major themes that I was putting out to the crowd here, and then obviously sharing picks along those
themes. And what we have is since my hiatus began, obviously, the market is down across the board.
Every index is down since the onset of my yellow alert months ago. So from a macro perspective, that's in line. The one thing that
I'll do to kind of differ from my colleagues here in terms of their macro view is to say that
the pullback in the market has been very geopolitical in nature, duh, but that also
means that it could end on a dime, right? And so as I look out onto the sources here that I'm seeing,
the question is, is Trump gonna put boots on the ground
or is he going to see that this is kind of
an untenable situation that threatens
the midterm elections and gracefully say,
hey, my objectives have been achieved and it's time for us to move on,
right? And that's the $64,000 question. So we shall see. In the meantime, the markets,
you look at the Qs, pulled back to the 200-day moving average. S&P 500 pulled back to the 200-day
moving average. Russell 2000, just about at the 200-day moving average. We have significant support levels that we've hit. The Russell 2000 down about 10% from its high,
that's correction territory. And what we've seen is with the exception of something significant,
the market has bounced from those levels, partly because of a major dynamic that I have been talking about in my particular
on my YouTube channel on Fridays, which is passive money going into the markets.
Okay, so I won't get into it because we're rapid fire. But suffice it to say that there is just a
flood of money that keeps going into the market blindly week after week, month after month as
people get paid, that keeps the market hovering because that money has no choice but to go into stock. So just be careful about this because
one day you might wake up and the market's gapped up 4% because Trump decided he needs to get out
of Iran for now to save the midterm elections some way, shape, or form. So that's the geopolitical
macro side. As far as digging down into AI is
not a bubble real quick, anthropic, the big news. Since I went on hiatus, their run rate has
accelerated by 2x to $20 billion. They're on a $20 billion run rate. The last time you heard from
me, they were on a $10 billion run rate. The valuation less than a year ago was about $60 billion. It's now $380 billion. That's a six-bagger,
ladies and gentlemen. And the culprit is the fact that AI has accelerated greatly since the last
time you heard from me. And yes, the word I used is accelerated. It's no longer just moving forward in a orderly fashion up and to the right. It has
taken a hockey stick up with the latest versions of the LLMs that are out there with the agentic
AI. And what is happening as a result is that corporations and users in greater quantities
are now starting to pay the LLMs, right? If you look me four months ago, I was on free AI.
Three months ago, paying AI 20 a month.
Two months ago, paying two LLMs $20 each a month
and having them compete against each other for answers
so I don't get hallucinations.
And this month, I'm paying $350 for perplexity computer,
basically the highest level that you can find out there.
And I'm finding it so powerful that I am blowing through. I've already blown through my entire
month's allocation of tokens, and I'm ready to re-up for more. So when you have more and more
people and more and more corporations rushing to use AI, and once they do, they spend more and more money. You have a
multiplicative effect that leads to an acceleration in revenue run rate like we've seen in Anthropic.
Bottom line, AI is not a bubble. This is going to be significant for stocks in many ways,
which we'll talk about in the second half of the show, but keep in mind, we're seeing the action already.
Block laying off 40% of their people.
Klarna, 40% of their people.
Fiverr, 30% of their people laid off.
Meta just announcing they're going to lay off 20% of these people.
These are healthy companies laying off large percentages of people and specifically identifying AI as the reason.
You can add Amazon and oracle to that mix
so bottom line um nothing has changed it's only accelerated and we will be back in the second
half of the show with my latest picks and um updates hey uh money mark I have to say something about Trump you know I think
it's gonna have to put boots on the ground somewhere Hagsworth said they
have 50,000 troops assembling in Middle East the 2,500 Marines just left the
Philippines there's three other other assault warships en route at maximum speed, the Tripoli, the San Diego, and the New Orleans.
And Trump's begged for other nations, especially trying to put pressure on NATO to help.
They've all turned him down.
It's going to be a one-man show.
He's going to carry the weight of the midterm elections, his legacy, and everything, especially going into the summer, which would be a big travel
month for everyone. Sorry, travel season. I think he's committed and it's a one man show.
Well, you know, look, everybody's going to have their opinion on this. I'm not going to
say that your view is wrong or my view is wrong. My my philosophy is to act quickly on what I see happen.
So what's for sure, right?
I think we can both agree that if we do see boots on the ground,
they're not going to get off the ground in a couple of days.
But from where we stand right now,
even as troops get deployed out to different areas strategically,
that could just be a pressuring
tactic. And until I actually see boots on the ground, I'm not going to be overly alarmed at a
point in time when the market is sitting here down at the 200-day moving average across the board and
in correction territory for some of the indices. So that's not to counter anything you've said.
It's just to kind of create some well-roundedness,
a little yin-yang to your view.
So, and there's nothing wrong with your view,
it's just more of a,
we need to really wait and see what happens next.
My, if I had to guess,
I'd say that they're really trying to secure
the straights of Hormuz
and will not put boots on the ground for any other reason,
but we'll see
all right uh dougie your turn macro good to hear you uh money mark there here we go real quick so
so uh crypto crypto looking good iwm is just all over the place. Been dipping down right here.
It honestly looks like it wants to dip down a little bit more, but has good support right here at 249.
So we have to see what's going on.
The whole market looks a little shaky.
And they have been, the Q's been popping up in the morning and just crushing it down at around 1030.
But then they pop back up a little bit and they're just running straight.
We'll probably see it flush down again at the end of the day. And I would say gold, silver, both down, not looking so good. And of
course, all eyes are on oil and what the prices are and what they're going to be doing. Fed rate
cut Wednesday doesn't look like we're going to see a rate cut according to the poly market. So
I think Powell's just going to be up there excited. He's pretty happy. They threw out that case that Trump had against him the other day on Friday.
So I'm sure he's going to be excited about that.
And I can't see anything exciting happening on Wednesday from FOMC.
And yeah, I don't think there's a whole lot going on in the market.
We kind of have to just see what's going on.
And like you guys were talking about with the boots on the ground.
Yeah, I think it could be a pressuring tactic as well money mark and i don't think until we see them on the ground then you know if they're
on the ground then you know you have a few days or even weeks but until then and i think it could
be just a pressuring tactic and i think trump does realize he has to do something relatively
quick he can't drag this thing out forever because he does have the midterms and everything coming up
so we'll see what happens this week i think it'll be a pivotal week right here especially
with the fomc and everything else happening and back to you guys
um is ariel up here is that the acs i don't see him as a yeah yeah yeah no thanks guys. So yeah, nice to have everyone back here. Hey, Manny Mark.
Yes, sir.
Yeah, I mean, look, I'm looking at this market. It's telling me a couple of things. It's more
like I am looking at the agentic space. I did talk about it last week, looking at all the names in
that area. And what it's telling me is that this is the excuse that, you know, if you look
forward a couple of months, you're going to say, oh man, I saw this dip. It hit the 200.
I never have a chance to buy these stocks. It's always running away from me. I hate buying it
too high. And here we are where no one wants to buy it. And that's what I was telling you guys
before. I love buying the dips on one of my portfolios, right? We were talking about that the
other week, depending on what short-term and long-term. If you're a trader, you have to be
super careful here because any second the rug could pull out of you. But at the same time,
I'm looking for opportunities here for companies that I love the thematic play. The agentic space
to me and Anthropic is a perfect example of where everything's going. I'm 100% with MoneyMark.
I know it's easy when he explains it like that, but I've been looking into all those language
models and I've been actually using it myself. I own a healthcare company as an example,
and it's in the reimbursement billing space, health policy, all that good stuff.
Well, guess what? We're firing 50% of our staff, and I'm putting all my agents to work. My co-coder and my head IT guy is a rock star. I'm giving him a bump in salary and a percentage of my company. Why? Because he was just able to offload all my expenses and have the same productivity, if not better. So that just tells me I'm using it now,
and I'm looking at my Wall Street side,
and I'm using the analysis.
The game is literally changing as we speak.
Everything's changing right beneath our eyes.
And if you're not going to own any of these agentics plays,
I mean, I don't know what to tell you.
I mean, you're getting these Amazons that are being created today.
They'll be multi-trillion dollar companies tomorrow.
So I think we need to just look further beyond this war.
This war is absolutely horrific.
I hate wars.
I know this is necessary, but you got to look past it.
This is not going to last forever.
You know, this is going to go.
And then, yes, we're going to have some interim pain.
But if you're telling me there's generational wealth being built here and you're not looking for it, then I think that's short-sighted.
So that's my little rant here, but one that I'm pretty big time on.
And I'm just really honing in on that space alongside, like I said before, cash-flowing
producing assets.
I hope they get smoked.
I keep wanting the markets to go down because I love cash-flowing assets.
That's where I make all my money is when people don't understand the business. They're just like, oh,
no, the stock is down. I'm going to sell it more because it's down. I'm like, cool. All right.
I'll just step in. So that's just my two cents here.
All right, Taj, back to you.
Yeah, really great stuff there, guys, giving the general overviews.
And we have just a few minutes now because we only have 10 minutes.
So we're going to kind of have to go a little rapid fire.
But, you know, some specific stocks if you want to dive into,
just something to keep on the radar of the audience.
You know, I'd love to hear.
Ben, do you have any thoughts on that?
Before I go to Dougie
and everybody else, it's really quick.
Yeah, let me just give one stock quickly. And this stock is not a recommendation of,
hey, this is a great company or anything like that. But it's my largest position in
my trade account right now. It's Pew, P-E-W, grab a gun. I'm in it for a swing.
I've been in it the last couple of days.
They reported earnings a couple of days ago.
This is a SPAC.
Donald Trump Jr. is on the board of a scanner for several SPAC turned into a grab a gun.
And I've been watching it.
Haven't done anything until this earnings report.
Everyone's left it for dead.
There was a lot of excitement over it when they first did the de-SPAC. haven't done anything until this earnings report. Everyone's left it for dead.
There was a lot of excitement over it when they first did the D-SPAC.
But everyone's completely left this for dead.
And I just noticed going through my feed that their top line beat rather nicely.
So I'm like, oh, you know what?
Let me dig into the conference call.
And I listened to the conference call call and I was shocked to find out
that this company is basically a break even doing buybacks and they're trading below their net cash
level. And management sounds extremely competent. I was very, very impressed by the CEO and the
direction they're going. They've expanded from not just selling their own firearms on their
website, grab a gun, but they've now launched a whole, I think they called it Pew Logistics,
which is basically, it's like a Amazon slash Shopify engine for the firearms, online sales firearms industry. So it's a highly regulated space, you know, so it's not as simple as, you know, you can't
just go on Shopify to do that.
So they are filling this need that has a lot of regulation and it's a higher margin business
for them.
But bottom line is, if you look at this, this is a stock that's been completely left for
dead.
It's now crossing above the 50 DMA, trading at less than net cash. If you look at this stock, you'd think it's like
a shit code that's burning a ton of cash, but they're not. They're basically a break-even,
buying back stock, below net cash, and this 50 DMA is crossing to the upside. So there's very
few charts like this and setups like this right now. A lot of stuff are coming off of their highs,
very richly valued.
So this is one that really caught my eye
and I'm in it for a swing to possibly $3.84 over here.
We're only at $3.20 right now.
A little resistance at $3.47 and then $3.84.
But this is no means like a endorsement
that is a great long- term investment or a great company.
I just don't know it well enough. It just seems to be a little bit of a turning point situation for the stock.
Maybe it's down its bottom and it's gone on a little bit of a run nil. So that's ticker symbol P-E-W.
Awesome. Good thoughts there. Money Mark, I'll pass it over to you.
Yeah. So looking at AI, there's several companies that are benefiting from this,
and this is where the money is going to get squeezed into as other companies start to
get hit by AI. A couple that come to mind, there's a company, Izea, I-Z-E-A is the ticker symbol.
I-Z-E-A is the ticker symbol.
What they do is they take the influencers
and they match them up with corporations.
Now, if you look at, for example, Time Warner, right?
Barbie, Superman, F1, those big movies, right?
They have huge advertising budgets.
And what they're finding is, okay, you can do billboards,
you can do commercials on TV,
you can do whatever, right? But what they're finding is when they tested out
Isaiah and leveraging their middleman capability to say, listen, we can't go out and find 200
influencers that are the perfect influencers to run a campaign on the F1 movie.
You guys know how to do that stuff. You guys have the experience. The CEO comes from Leo Burnett,
who invented the Marlboro Man, Tony the Tiger, Pillsbury Doughboy, right? They know how to put
together campaigns, advertising campaigns for large corporations. So they're taking that knowledge along with a massive
proprietary database of influencers at a platform that they spent over $40 million developing,
right, to create basically an AI-proof platform. Because without the expertise, without the
proprietary database, you can't just replicate this platform with AI. And as a result, right,
they can and do put together those campaigns on behalf of Time Warner for those movies. So for F1,
they sent 250 influencers to Times Square for the red carpet event who blew up the internet
with posts about this and created a buzz where the measuring and mapping that took place on
the back end of this, right? So what Isaiah does is they secure the customer, they secure the
influencers that are perfect for the campaign, they design the campaign, they organize it,
they contract with the influencers, they execute the campaign, and then they measure and map the
effect of the campaign, the effectiveness for the
customer. What's happened is that 250-person campaign for F1 has blown up to where now
Wuthering Heights, one of the more recent movies, they used 2,000. So not only is IZEA getting new
customers, including Amazon, by the way, but the existing customers are now starting to use them more. The CEO said that the pipeline has expanded dramatically. When he came
in to take over the business, they were doing a bunch of crappy business. So along with a few
little, you know, good pieces of business, they got rid of all the non-profitable business. The
company was highly unprofitable, flipped the company to profitability. So you don't see the
revenue moving much, but that's because he got rid of like half the revenue that wasn't profitable to
the business. And now what you're going to see is them growing off of that lower base of highly
profitable business. Now, the funniest thing about it is if you look at the stock, it's trading at
$3.65. They have $3 in cash. Now, the only concern might be that they
use that cash on acquisitions instead of returning it to shareholders. Well, guess what? The CEO from
Leo Burnett has extensive expertise in doing M&A and he was very successful in his last business,
building it up, building up the revenue, building up the EBITDA through M&A and being able
to get out of there at a much higher valuation. So he's either going to give that cash back to us
or he's going to use it in a very effective manner. Plus the company has tons of losses in the past.
So any acquisitions that they take in are going to actually, the profitability of those companies
are going to help to offset against those tax gains, losses that they took in the past, and they won't have to pay taxes on the profitability of the companies that they
acquire. So you've got a $3.68 stock with $3 in cash, perfectly aligned with what's happening in
the AI economy with these influencers that now have AI at their disposal. If you didn't see the fight between Tom Cruise
and Brad Pitt on the internet, the AI-generated fight,
go check that out on YouTube and see what AI can produce.
The influencers are now making ads
that are just as great as the Super Bowl ads
so they can compete with the Leo Burnett's of the world.
But now they're doing it through Isaiah as influencers
and it's creating shockwaves throughout the industry. The Leo Burnett's are actually scared
of what's happening right now. There's a lot of people being thrown out onto the
streets from those corporations because this kind of stuff is taken over.
So anyways, last one that I'll give you for now, since we're short on time, is WATT.
I mentioned it on my show on YouTube, my show Money Mark Stocks. And I will just say that we
are doing continued research, but we're excited by what we see so far. They are an instrumental
and proprietary piece of the IT puzzle as it pertains to the emergence of IoT, basically sensors being used by companies like Walmart to track everything throughout their supply chain and send that data in real time to the cloud, which AI crunches, analyzes, and allows business decisions to be made in an agentic way. You've heard of AI agents. Well,
that's what Walmart's doing with this. And WATT is the company that is powering those devices.
That's all I'll give you for now. Stay tuned. I'll give you a lot more next week.
Great stuff there. And yeah, we are running up on the top of the half hour, but I'm not sure if you
see the rest of the crew that's supposed to come up here
Otherwise, you know, I'm like I'm up there now
Okay, awesome
Really quick Dougie
Any quick thoughts because we're about to run into the second half of this show
But any anything that you'd like to throw out there really quick. I'll just check out plug plug
I'll just mention that when I mentioned it last week week, not looking bad. And yeah, go ahead.
You guys can kick it back so you can get ready for the interview.
Awesome.
I'm not seeing them come up yet.
I'll wait for that, Dougie.
What do you think about Pew, the Pew chart?
Let's see Pew real quick.
How about, let's talk, P-E-L-I.
Are you looking at this miniature?
Yeah, I know.
That's the one we're about to interview is P-E-L-I.
Yeah, I know.
It's insane right now.
And then Pew doesn't look bad.
It actually just jumped up and looks a little bit better.
It's just a little bit slow just because of the volume.
But the volume is much higher than it was at over 400K right now.
And it does look like it's going to creep up.
We picked it up last week, and it's just been bouncing around a little bit.
But I think we're going to get some movement on it, so it does
look good. Just taking its time, that's all.
Alrighty,
I sent those invites out. Larry
and Robert, if you guys can just accept, then that will
bring you up as a speaker for this
X Spaces.
Might be their first X x bases ever could be
yep and i'm just changing the title but in the meantime while i'm changing the title uh laptop
travel if you just have a quick one you want to throw out in like 20 seconds you'd love to hear
your uh ticker hey for all the uh listeners who appreciate you coming into the show,
I've put my three tickers in the comments.
If folks want to check them out, I've also accompanied them with a chart.
Real quick, ADVB, which is Advanced Biomed.
This is a U.S.-Taiwan company, and they're doing an amazing thing.
They're actually doing cancer research, taking an actual patient's own cells,
recreating them in the lab, and doing 3D modeling with them,
and trying to perfect the perfect cancer solution for each person based on their own unique DNA.
Just check it out.
And thank you, and looking forward to Pelican and greenland all right it looks like we do have oh where'd he go we have robert up here uh larry i just sent
that invite to you over uh again i'm not sure if you got it there all you have to do is hit accept
don't bring you up as a speaker but uh ben you Ben, you want to kick us off because we do have Robert up here.
Yeah, okay, great.
We got Robert Price, CEO of Greenland Energy Company.
Greenland Energy Company is about to merge in the SPAC when the book goes through,
which I think is going to be tomorrow.
Newstaker will be GLND.
I'm going to give just a very high level overview
because I'd love to spend some time. We talked to you guys the other day. I'd love to have a
chance to dig deeper on this particular call here. So basically, this is a oil drilling
exploration company in Greenland with a ton and ton, a ton of acreage and a ton of, I guess, proven reserves.
Robert will correct me on all this in a second.
At a very low $215 million valuation at just the right time.
I mean, the timing of this couldn't be any crazier in terms of the geopolitics of what's going on.
And the stock is seeing a lot of interest right now
ahead of this merger in the next day or so.
So, yeah, that's just, Robert,
if you want to just correct me on some of that
and give me your kind of high-level intro
of what GLND is going to be about, that would be great.
Oh, you got to unmute yourself there, Robert.
Okay, got it.
Okay, yeah.
Yeah, thanks for that introduction. And I've been listening for the past half hour and hearing everyone's thoughts have been extraordinarily insightful.
Our project, I'm the CEO of Greenland Energy.
The DSPAC will happen tomorrow. And then, as you mentioned, we'll be trading on the symbol GLND. I have, throughout my career,
I've drilled for oil and gas, and I've drilled for and found millions of barrels of oil.
I've never had the opportunity to drill for billions of barrels of oil, and that's what we're doing in Greenland.
We own the entire basin, 2 million acres.
Our predecessor was Arco.
Arco was, in the 1980s, the sixth largest oil and gas company in the world.
They discovered Prudhoe Bay, Alaska.
That's the largest oil field in North America at 13 billion barrels of oil.
After discovering Prudhoe Bay, their number one prospect was our basin in Greenland.
They spent over $275 million doing seismic, building an airport, a seaport.
doing seismic, building an airport, a seaport, and due to macroeconomics, oil prices going down
in the 80s onto the 90s, a different royalty scheme that they had. We've now negotiated a
better royalty scheme. They never drilled their first well. So we have partnered with Halliburton as our project manager, some other incredible
engineers. We have hired a company out of Calgary called Stampede that's going to be moving the rig
this summer or pre this summer. And then we have also reserved a ship with a premium
shipper in the Arctic Circle. It's called Degagne. We'll be staging all of
Halliburton's equipment, Stampede's equipment in Montreal in this summer. The ship will set sail
to Greenland. It leaves on September 12th. We will already have other equipment repositioned to build a three mile road in.
So this is all on shore.
We're not doing horizontal drilling.
We're not fracking.
This is a conventional reservoir.
The types that were discovered in the, the twenties, thirties and forties and beyond. And we will then bring the larger vessel in, the Degagne ship, with 300 containers worth
of equipment. Then we'll go along that three-mile road. We will begin drilling our first well
on or around October 1st. It'll take us about three or about four weeks to drill our well.
It'll take us about three or about four weeks to drill our well.
As we drill down, we see on our seismic, we took all of Arco seismic, the same type of
vintage seismic they used to discover Prudhoe Bay, and we've reprocessed it.
And we see five different trapping mechanisms of oil as we drill down.
And so we'll have those results towards the end of October,
and then we'll immediately move the rig and drill our next prospect. What we are targeting here
through an independent engineering report is over 13 billion barrels of oil. Truly, I have never been involved in something this significant.
And this is the type of project that major oil and gas companies drill.
Our little small micro cap company, this is our opportunity right now.
If Larry is on now, he can talk about the SPAC, the D-SPAC process, and Larry is serving as our executive chairman.
He has great financial background, and truly, it's incredible to work with Larry.
Yep, go ahead, Larry.
Hey, hello, everyone. Robert, appreciate that. Yeah, you know, we're really excited about this transaction. I'm, you know, more interested in answering questions than I am getting up and giving a soliloquy or a pitch here. But, you know, having done SPACs for the last 20 years, worked on over a dozen of them, been one of the top ranked sponsor teams.
them. Been one of the top-ranked sponsor teams. This is, to me, one of the most interesting ones
that I've worked on. And we're a bit of a target here. We're not the sponsor. We're actually,
we kind of formed a target company with Robert in order to take advantage of the opportunity
of what we think is the most interesting asymmetric risk reward that I've seen in deals
that we've worked on. And why I love the
SPAC as a tool, because really it's just a tool, right? It's not the solution for everything. It's
not how every company should go public, but it is a really unique tool because it allows
individual investors to participate on these kinds of transactions. This would normally have
been done by private equity,
you know, back behind the scenes, you know, with the usual suspects throwing in hundreds of millions of dollars and reaping all the rewards. And we really felt for me, I was drawn to the
geopolitics of the opportunity of assisting the Greenlandic people in their economic security and
their economic independence, which I think is the right thing for the us
is to have a strong and independent uh greenland who is thankful to
folks like for having ignited their industry with capitalism
so uh you know what that sets up is a really unique asymmetric opportunity where the money is going directly to work into the wells and providing this really interesting asymmetric risk reward.
Hey, Larry, thanks for that.
Any update on the insights you can give us in terms of how the redemptions are going?
Is that time period closed?
The redemption deadline was Friday at 5 p.m., I believe, Eastern. You can always have reversals at the company's option. We're trading very well today. Um, and, uh, you know, so I think, uh, you know,
we'll just gotta do a wait and see, you know, our meeting is on Tuesday. Uh, and, uh, you know,
we're really encouraged by, uh, you know, the trading volume and the price today. I think it,
uh, is, uh, you know, more reflective of, uh, of the value opportunity. So redemptions will be provided as soon as required
and we'll disclose it to the public.
I think Robert and I can say honestly
that we're not concerned about how we finance this company
because there is so much global interest
in this opportunity.
And forget oil generally, but Greenland and then oil, obviously what's going on.
And so we'll find the right financing partners.
And if it's the general retail investing public, great.
We think that's actually the most ideal outcome.
But ultimately, we'll get this project financed.
I think, Robert, you can confirm your confidence in that along with me.
We're going to do it the right way. We're going to do it slow and steady.
You know, that's this is a this is a long term opportunity.
And just to kind of follow up, we have already paid for a lot of the equipment.
We've bought D9 bulldozers, excavators, housing for over 40 workers.
All that equipment is now positioned right next to our license.
And so that'll be moving in in the early part of the summer.
So we continue even before we went down the path of the SPAC and the D-SPAC. We have funded much of it
privately, and so we're progressing it on schedule. Okay, great. And Robert, the vote is tomorrow,
so the new ticker symbol would be probably not until Wednesday or Thursday. Is that right?
be probably not until Wednesday or Thursday. Is that right? Larry, I think it's almost
simultaneous, isn't it? Maybe Wednesday, GLND? So if everything goes well on Tuesday,
as we would suspect it would, closing could be as early as Wednesday, and then the new ticker GLND
would be on Thursday.
Perfect. Perfect. All right. Listen, I have so many questions.
Bring it on. That's what I love about these.
If anyone on the panel just wants to butt in, you know, go ahead.
Don't feel like you got to let me know. Real quick. Is it GLNB as in boy or D as in dog?
D as in dog. So it's like short for green land, right?
So GL for green and then LND for land.
That makes sense.
All right.
Thank you very much.
Great.
So I'm trying to figure out where the risks are in this whole process because obviously
the timeline you put out there that we talked about and the size of the oil deposit
looks like very compelling. So what are the risks to not getting? So one is one topic,
regulation that I just want to talk about, you know, are there more steps and more barriers in
terms of approvals from Greenland and how long, you know, you have
to do certain studies or whatever it is until the point where you can actually extract it from the
ground and sell it, right? So what are kind of the rate-limiting steps there in terms of regulation
that has to happen? Well, so the first part of the question is the different risks. So when ARCO discovered Prudhoe Bay, Alaska, they're at 70 degrees
latitude. Our licenses are in our basin is at 70 degrees latitude as well. The Arctic conditions
are only getting easier to operate in. And so we know that when that ship sets sail,
We know that when that ship sets sail, we need to have everything in place.
Logistics, logistics, logistics.
We have many redundant systems as well to make sure that we're not flying things in and out while we're drilling those wells.
So we're trying to solve for that one risk, and that is logistics and making sure our equipment is there.
Secondly, we received all
the approvals to place our equipment. We've done extensive environmental studies. In fact,
we hired an environmental group that used to be head of the Greenlandic oil and gas division,
and they've been working with us. But let me just kind of, from a general standpoint,
with us. But let me just kind of from a general standpoint, mention the Greenlandic people,
they are dependent on Denmark for about the tune of about a half a billion dollars a year for their
subsistence. They do fish a lot. That's part of their economy. There is a fair amount of tourism.
They have seen what Denmark has taken out of the North Sea. And I'm not going to dive
into the oil part or the geology part of this, but our petroleum system is exactly the same
petroleum system as North Sea because the continents were one at one time. Greenland
has seen what Denmark's taken out of the North Sea, Norway and other countries have taken out.
of the North Sea, Norway, and other countries have taken out. They want to know if they have
one of the largest oil fields in the world, and they have been working with us very positively.
As far as permitting, once we drill these wells, the permits to produce, I think, will be
forthcoming. Okay, so what permits are left to get? Is it just a permit to produce as the last
approval that's needed? Yeah, the ones to produce, that will be, so we, our very first well,
we will drill through five different formations. That well could discover up to 2.9 billion barrels of oil on just the first
test. And so it would become literally a steel city overnight by drilling additional wells to
get that 2.9 billion barrels out. So we would do additional environmental studies, but all the
environmental studies we have done so far
um they've come back positively and so we don't expect any whole any delay in being able to produce
our our oil of note we are three miles from the shore and so being able to get the oil out
in shorter fashion um should be i mean we could be exporting oil within a couple years.
Laptop, I'll come to you in just a minute.
I don't want to lose my frame of thought here.
So that first well, you're saying you can confirm somehow that there's 2.9 billion barrels of oil.
I'd like to understand that preliminary estimate that there's 2.9 billion barrels of oil. I'd like to understand that preliminary estimate
of that there's 2.9 billion in there. What kind of technology is that based on? Is that
seismic readings, radars? What kind of technology is that based on?
Yeah, absolutely. So this basin has been studied because in the northern part of the basin,
our basin outcrops to mountains. So you can
actually see the mountainous territory. You can see where the Permian Reef buildups are. You can
see the shells above it, the different sands. So you can really appreciate at surface what's
actually down below. Many major oil and gas companies, geologists, have come to our licenses so they can understand
the North Sea petroleum system better. What ARCO did is they shot seismic over two million acres.
They shot it for a long period of time, summers and winters. It's the same vintage seismic that
they used to discover Prudhoe Bay, Alaska. What we have done, we have taken all that
historical data, and the seismic is just vibrating the ground to see where those traps are. We used
modern seismic techniques that we are able to reinterpret their seismic, and that's why we see those five different trapping mechanisms just on our first well.
Okay, got it.
And what are the chances that those seismic readings are wrong?
What are the chances you go in there and it's like, oh, no, all that technology was wrong.
Like, can you give me like a percent odds of the likelihood that you can remember what you think is there? Yeah. Our engineers give it a better than 50% to 80% chance because we have the different five formations.
There could be a bust on seismic.
What we are doing is we'll have a suite of logs.
So as we drill down with Halliburton logs, we'll be able to take pressure readings from the formations.
Caliburte logs will be able to take pressure readings from the formations.
We'll have a sonic log, which, again, this is the first well ever drilled in this petroleum basin.
And so the information we get from this first well will be so valuable for developing it.
And I just want to say that this basin is there.
It's been well known. It's never been drilled.
So it's not a matter of if this basin will be discovered, in my opinion. It's a question of
when. And so we'll get the first well down, which I believe we're going to create significant
shareholder value just by getting that first well down, even if it's not a huge discovery.
There's risk, but we have minimized that risk with the reprocessing the seismic
and picking the first location that has five different formations.
Okay, and last question before I go to laptop. Once you dig that first well, then what technology is then used to confirm the size of that, the reserves there?
Is this a radar that you're, you know, the depth and the width of it?
Is that how it works?
Yeah.
So what we do is we drill down.
We take the cuttings from the formations.
We'll bring them up the hole.
We'll be able to look at them at the surface.
We'll be able to see the
oil if you know if that formation has it but then haliburt is bringing a very sophisticated suite
of logging equipment so we'll be go we'll be able to go down the hole as we're drilling we'll be
able to do side cores that will be able to get the rock out, and then we'll be able to get pressure data,
and we'll be able to take samples of the live oil in the formation. We'll be able to run
engineering reports on what the pressure data we have, and we'll be able to get a good idea
of, at least on this first well, what the reserves might be.
Okay, great. Laptop, over to you.
Well, good afternoon, Robert and Larry. I appreciate it. Actually, I'll be speaking with you
at 9 a.m. tomorrow and looking forward to that. I'm probably the only person on the panel that's
ever been to Prudhoe Bay. And luckily, I've been at the other end of the Trans-Alaska pipeline of salmon fishing in Valdez. My question today is the financial arrangements because of the unique political status of Greenland.
What is your lease agreement in profit sharing between Denmark?
And then is Greenland also privy to payments or is it only to Denmark?
And then Denmark just feeds money to Greenland.
And what is your percentage take with Greenland Energy Company versus your other partners?
Basically, how much are you taking
out of this? Yeah, that's a great question. And it actually goes all the way back to ARCO.
When ARCO discovered Prudhoe Bay, they negotiated with Denmark, where Denmark got almost 40% of the
oil. ARCO negotiated down the hills of Prudhoe Bay because they thought they might have the next
Prudhoe Bay. Denmark didn't want to renegotiate that and that was one of the reasons that ARCO
would relinquish the license because of lower oil price at the time. Since then Greenland
totally controls the licensing so Denmark has nothing to do with it. We were able to negotiate
a 15% net profits interest with them. So it's a sliding scale. So when we get 35% net profits,
Greenland gets 3.75% of the royalty, and there's a sliding scale up to 15%.
and there's a sliding scale up to 15%. That royalty scheme is unprecedented worldwide in
concessions and even here in the shell basins of the U.S. But I want to note that Greenland,
just through the economic development of developing this oil basin, will benefit greatly even beyond the royalty. Sure, absolutely. I get that. So you
really ended up with, I guess I call it, sweetheart deal.
And it's good for everyone. It gives us the incentive to go drill. And one thing I also
want to point out, we're not, you know, we had this project in the works for a long time.
If we're expecting the same quantity of oil that our engineering report says, we could be one of the lowest cost producers in the world at $25 a barrel as a break-even. You see, U.S. Shell, their break-even is $60 and in some places $70
a barrel. We weren't chasing higher oil prices. We're about opening up this basin. Now, it is a
bonus with the current oil prices, but if you look at 13 billion barrels of oil time, the current price, that's over a trillion dollars of oil that we are attempting to.
Everyone just got muted.
All right.
Sorry.
Go ahead, Robert.
Microphone's closed.
You have to hit the unmute button.
Just another day on X.
Yeah, if you are speaking right now, if you look on the bottom left hand of the screen, you should see a little microphone.
And it should open it back up, unfortunately.
Oh, my God.
Yeah, I apologize. It was just. I'm yeah. I'm,
I apologize. It was just about 20 seconds ago. No worries about it. Okay. Got it. Okay. Good.
Yeah. Just to, in conclusion, you know, we're not chasing, um, you know, these large oil prices.
We believe that our break even is about $25 a barrel, much more, um, uh more inexpensive than U.S. shale. And so what we're at current prices,
13 billion barrels of oil, that's a trillion dollars. That's what we're trying to unlock here
by the end of this year with our two wells. Okay, great. Laptop, do you have another one or can i take over again no sir thank you very much
i really appreciate that robert all right thank you all right i'm just so interested now um so
what what is the um the riskiest for investors right uh the riskiest step in all this is it
that you know we went through,
you gave me a percentage there, like 50 to 80% chance it's as big as you think. After that,
let's say it is as big as you think, or even doesn't need to be as big as you think, like you
said, even if it's half the size or a fraction of the size. But then what's the next risk for
investors? Operationally, getting that oil out of the ground, is that a risk?
So let's go through the next step after that.
Yeah, operationally getting the oil out of the ground, that's the easy thing.
As I mentioned, this is not U.S. shell where we're drilling horizontal wells and we're doing multistage fracking.
This is conventional resources. And just like the
early discoveries throughout the world, all conventional, our seismic shows us that this
petroleum system has been uplifted. That means that when we drill down, we're going to be encountering significant pressures.
So we expect that the pressures will help deliver the oil.
That means when we're first producing, no pump jacks.
It'll all be naturally flowing.
Just getting the oil out, it's a...
So let me just be really clear.
We're a small company.
We have no aspirations on bringing this into full production.
We have invited two major oil and gas companies that will be there while we're drilling.
They'll be monitoring it.
It's my belief that with U.S. Shell at $60, $70 a barrel becoming non-profitable,
many of these companies are going to be looking for mergers and acquisitions.
You know, ExxonMobil, they found Guyana in South America. That's an 11 billion barrel field.
The other oil and gas companies have been leaning into U.S. shale.
So we'll need an entire team that will consist of literally a major oil and gas company to bring this basin into full production.
Did you just hint here that, you know, once you get past a certain step and are able to confirm, you know, the reserves there, that a potential here is that the company will be sold to a major right after that?
Is that what I'm hearing?
Yeah, well, we will, I wouldn't say sold, but I would say that the amount of expertise and the amount of people to put this in full development, as you said before,
being in Prudhoe Bay, Alaska, I mean, that's a still city that was built, you know, not overnight,
but in many years. The same will be required here to be able to produce and export what could be over a trillion dollars
worth of oil is going to be a massive undertaking. That's an undertaking that our small cap company
cannot do. So we will look to partner with some of the major oil and gas companies
to be able to produce, develop, and export that crude. And I want to point out one
more thing about our crude. We have taken live oil samples and we have genetically matched it
to the North Sea oil. So it's a 40 degree gravity, light, sweet crude, much like Brent oil. It
commands a premium price. It's not like the Venezuelan, you know, thicker crude.
Okay.
So my last question here, actually, we saw an announcement on Friday regarding stable offshore in the States.
The government using the Defense Production Act, I don't know if you know what's
going on there, to get them to restart their pipelines off because of California. And I was
like very surprised just after the weekend on Monday, they put a press release out saying,
all right, great, we got this authorization. So the oil is already flowing and we'll be selling
our first barrels in just two weeks from now. That was very, very fast.
So tell me again the timeline here to when you think the first barrel can actually be
sold.
It could conceivably be done in the next two years if we have success on this first well.
But like Prudhoe Bay, that has been the economic engine for Alaska for the past five decades, this basin is going to be around for a very long time.
without pumping units, without fracking, they can flow up to 20,000 to 50,000 barrels of oil a day,
which is striking, striking amounts.
So again, our basis is going to be able to bring it on sooner.
I hope that answers your question.
Yeah, it helps.
A lot to learn here.
Taj, over to you.
Do you have any questions or thoughts?
No, that was really great.
I was just listening back for this one.
I think you asked some really great questions,
and I think you gave us a lot to look into
and research, learning a lot about this.
So it's been really good space and discussion.
So I just wanna thank you all and also for the audience,
anyone that wants to research this stuff.
Again, this is, oh yeah,
I was just gonna say, this is not investment advice,
of course, do your own research
and these conversations for educational purposes.
So really want to
thank the team here for putting this together and everyone that is on the panel for
sharing their time with us. But Robert, you were saying something? We'll just go back to our ret afterwards. Oh, I just wanted to say thank you for allowing me and Larry to share what we're doing. As I mentioned, I've drilled for and just thanks for everyone taking the time.
This is a
Just breaking up a little bit there, but Rhett, any closing thoughts?
Nope. Thank you, gentlemen.
And thank you, ladies and gentlemen that are listening in.
Appreciate your time. Thank you.
Thank you, Robert. Thank you, Larry, for your time. It's great.
Looking forward to learning more. There's so much to learn.
So another opportunity to learn more tomorrow morning.
What time does that interview have left up?
Our interview starts at 9 a.m. Eastern Daylight Time, New York Eastern Time.
All right, so you can follow Laptop Travel there to get an even deeper dive tomorrow morning on the topic.
Look forward to that and reach out on DMs anytime.
I'm happy to answer your questions.
Awesome. Thank you, Larry. Have a good day, guys.
Great stuff there. this has been a great
hour really appreciate everyone that's in the audience
that stuck with us and again this is
a recorded space so if you've missed any details
or if there's anything that you want to look up just hit
replay right after I close this but
as usual we have all sorts of spaces whatever
area of finance that you're into with
Wolf Financial the guys are streaming over there on
Wolf Trading right now Wolf Bitcoin has
some things if you're into that too as well.
But just check the schedule,
see what's going on.
And we're always putting on different things
and love to connect with the audience.
So please reach out to us.
Reach out to all the amazing people
that are on the panel.
Have a wonderful rest of your day.
And we'll be back
for another small cap investing space next week. Thank you.
