Awilco Drilling PLC

Awilco Drilling PLC: Sale of WilPhoenix

Awilco Drilling PLC (the Company) announces that its fully owned subsidiary

Awilco Drilling Offshore (UK) Limited has signed a Memorandum of Agreement (MOA)

for the sale of the WilPhoenix rig to Well-Safe Solutions Ltd. The agreed

purchase price is USD 15.5 million. Expected time of delivery of the rig is on

or around 1 June 2022.

WilPhoenix is one of Awilco Drilling's two Enhanced Pacesetter semi-submersibles

and is equipped for drilling in water depths up to 1,200 ft. WilHunter, Awilco

Drilling's other semi-submersible, is in the process of being sold for

recycling.

Aberdeen, 4 May 2022

For further information please contact:

Eric Jacobs, Interim CEO

Phone: +44 1224 737900

Cathrine Haavind, Investor Relations

Phone: +47 93 42 84 64

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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