Greenland Energy has pushed its first Jameson Land Basin test well in eastern Greenland to the end of 2027 after permitting setbacks, regulatory pressure and local opposition, extending a timetable that had already slipped from this summer to winter. At a June meeting in Ittoqqortoormiit, the Texas-based company told residents the wider area could hold as much as 13 billion barrels of oil, while CEO Robert Price has said the planned well targets up to 2.9 billion barrels. Residents questioned why Greenland would receive only 15 percent of profits and raised concerns in a community where musk ox hunting remains important. The project is proceeding under older exploration licenses despite Greenland's moratorium on new oil licensing, and since the company listed on the Nasdaq Global Market in March its market capitalization has fallen nearly 85 percent to about $54 million.