Awilco Drilling PLC

Declaration of Voting Results & Voting Rights Announcements • Jun 19, 2018

Awilco Drilling PLC: Result of the Subsequent Offering

Awilco Drilling PLC: Result of the Subsequent Offering

Aberdeen, 19 June 2018

Reference is made to the stock exchange release from Awilco Drilling Plc (the

"Company") published on 7 June 2018 regarding the approval of the prospectus in

connection with the subsequent offering of up to 1,400,000 new shares (the

"Offer Shares") in the Company (the "Subsequent Offering") and the commencement

of the subscription period in the Subsequent Offering.

The subscription period in the Subsequent Offering expired at 16:30 hours (CET)

on 18 June 2017. A total of 1,400,000 shares will be allocated with a

subscription price of NOK 27.35 per share, raising approximately USD 4.7 million

in gross proceeds.

The Company expects that the Offer Shares will be issued on or about 22 June

2018, and be admitted to trading on Oslo Axess on or about 22 June 2018.

ABG Sundal Collier ASA, Arctic Securities AS and Fearnley Securities AS have

acted as managers in the Subsequent Offering (the "Managers").

For further information, please contact:

Jon Oliver Bryce, CEO

Phone +44 1224 737900

Cathrine Haavind, IR Manager

Phone: +47 93 42 84 64

Email: ch@awilcodrilling.com

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act

Important information:

The release is not for publication or distribution, in whole or in part directly

or indirectly, in or into Australia, Canada, Japan or the United States

(including its territories and possessions, any state of the United States and

the District of Columbia) or any other jurisdiction in which the release,

publication or distribution would be unlawful. This release is an announcement

issued pursuant to legal information obligations, and is subject of the

disclosure requirements pursuant to section 5-12 of the Norwegian Securities

Trading Act. It is issued for information purposes only, and does not constitute

or form part of any offer or solicitation to purchase or subscribe for

securities, in the United States or in any other jurisdiction. The securities

mentioned herein have not been, and will not be, registered under the United

States Securities Act of 1933, as amended (the "US Securities Act"). The

securities may not be offered or sold in the United States except pursuant to an

exemption from the registration requirements of the US Securities Act. The

Company does not intend to register any portion of the offering of the

securities in the United States or to conduct a public offering of the

securities in the United States. Copies of this announcement are not being made

and may not be distributed or sent into Australia, Canada, Japan or the United

States. The issue, exercise, purchase or sale of subscription rights and the

subscription or purchase of shares in the Company are subject to specific legal

or regulatory restrictions in certain jurisdictions. Neither the Company nor the

Managers assumes any responsibility in the event there is a violation by any

person of such restrictions.

The distribution of this release may in certain jurisdictions be restricted by

law. Persons into whose possession this release comes should inform themselves

about and observe any such restrictions. Any failure to comply with these

restrictions may constitute a violation of the securities laws of any such

jurisdiction. The Managers are acting for the Company and no one else in

connection with the Private Placement and the Subsequent Offering and will not

be responsible to anyone other than the Company for providing the protections

afforded to their respective clients or for providing advice in relation to the

Private Placement and the Subsequent Offering and/or any other matter referred

to in this release.

Forward-looking statements:

This release and any materials distributed in connection with this release may

contain certain forward-looking statements. By their nature, forward-looking

statements involve risk and uncertainty because they reflect the Company's

current expectations and assumptions as to future events and circumstances that

may not prove accurate. A  number of material factors could cause actual results

and developments to differ materially from those expressed or implied by these

forward-looking statements.