Awilco Drilling PLC

Regulatory Filings • Feb 25, 2020

AWDR - Letter of Intent signed for WilPhoenix

AWDR - Letter of Intent signed for WilPhoenix

Awilco Drilling PLC has signed a Letter of Intent with Serica Energy (UK)

Limited for the provision of WilPhoenix for a one well workover on the Rhum

field. The program has an estimated duration of 45 to 70 days and will commence

between 1st September and 30th October 2020. The contract value is estimated at

GBP 5.9 million to GBP 9.1 million (USD 7.8 million to USD 11.9 million).

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. Awilco Drilling

also has two new build rigs on order of Moss CS60 ECO MW design equipped for

drilling in harsh environments, and independent options for additional two rigs

of the same design.

Aberdeen, 25 February 2020

For further information please contact:

Jens Berge, CEO

Phone: +44 1224 737900

Cathrine Haavind, IR Manager

Phone: +47 9342 8464

Email: ch@awilcodrilling.com (mailto:ch@awilcodrilling.com)

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act