Awilco Drilling PLC

Report Publication Announcement • Jan 23, 2018

AWDR - Letter of Intent signed for WilPhoenix

AWDR - Letter of Intent signed for WilPhoenix

Awilco Drilling PLC has signed a Letter of Intent with an undisclosed operator

for the provision of WilPhoenix. The one well program has an estimated duration

of 115 days and will commence in direct continuation from the rig's current

contract with Apache North Sea Limited in Q2 2018. The contract value is

estimated at USD 13.8 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.

For further information please contact:

Jon Oliver Bryce, CEO

Phone: +44 1224 737900

Cathrine Haavind, IR Manager

Phone: +47 9342 8464

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.