en.Wedoany.com Reported - Stampede Drilling Inc. announced it has received upfront capital from its client, Greenland Energy Company, to support its drilling project in the Jameson Land Basin, East Greenland. The funds will prepare the rig for Arctic operations under a five-year contract.

The upfront capital will be used for modifications and enhancements required for the rig to operate in Arctic environments and drilling conditions. With this funding, Stampede expects its net capital required to complete the upgrades to be minimal. The company plans to mobilize the rig from Nisku, Alberta, in the third quarter of 2026. Prior to the rig leaving Nisku, decommissioning funds will be deposited into an escrow account under mutually agreed terms to provide financial security for the rig's decommissioning and return.

The Greenland project continues to progress as planned, with an initial program of up to two exploration wells in the Jameson Land Basin. Stampede noted that the drilling contract with Greenland Energy remains subject to final approval from the Government of Greenland.

Lyle Whitmarsh, President and CEO of Stampede, expressed excitement about the opportunity and the client's continued support. Securing upfront capital for a project of this scale is a significant milestone and relatively rare in the market, reflecting Greenland Energy's confidence in and commitment to Stampede's delivery capabilities. The company remains optimistic about the opportunities this frontier project presents for the company and its shareholders.

This arrangement highlights the strength of the relationship between Stampede and Greenland Energy, as well as the company's reputation for safety, efficiency, and operational performance in demanding environments.

Stampede Drilling Inc. is an energy services company headquartered in Calgary, Alberta, providing contract drilling services focused on safety, efficiency, and value for the oil and gas industry in Western Canada and emerging frontier areas. For more information, visit www.stampededrilling.com.

This news release contains forward-looking information within the meaning of applicable securities laws, including statements regarding the planned rig mobilization, timing of mobilization, rig capital upgrades, net capital required by the company, escrow of decommissioning funds, expected progress of the Greenland project, final approval from the Government of Greenland, and the company's expected benefits from the contract. This information is based on assumptions and is subject to risks and uncertainties, including operational and environmental risks associated with remote Arctic operations, weather and seasonal access restrictions, reliance on third parties, regulatory issues, commodity price volatility, and the possibility that the Greenland project may not proceed as currently contemplated. The company undertakes no obligation to update such information. Readers are cautioned not to place undue reliance on forward-looking information.