BlackRock Discloses 8.3% Stake in Greenland Energy Amid Fugazi Criticism
GLND has more than doubled off its 52-week low of $1.093 on elevated volume (2.5× avg).
Summary
BlackRock filed an 8.3 on 28 Sep 2026, disclosing an 8.3% stake in Greenland Energy with investment discretion but no voting power, and reporting no trades, derivatives, or options. This follows the 24 Sep farm-out amendment extending the first well deadline to December 2028, for which Greenland paid £500,000. Fugazi Research claims the company raised $70M despite no proven reserves or revenue, and that its 13 billion-barrel figure is an unrisked estimate from 58 prospects. The BlackRock filing adds institutional validation but the Fugazi critique highlights the speculative nature of the asset base. Watch for any response from Greenland Energy to the Fugazi claims and further developments on the 80 Mile merger.
At the time of this announcement, GLND was trading at $4.10 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $196.3M. The 52-week trading range was $1.09 to $23.00. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Wiseek News.