Awilco Drilling PLC

Earnings Release • May 11, 2017

AWDR - Awilco Drilling Reports Q1 2017 Results

AWDR - Awilco Drilling Reports Q1 2017 Results

Awilco Drilling PLC reported contract revenue of USD 31.9 million (USD 12.3

million in Q4), EBITDA USD 24.8 million (USD 2.6 million in Q4) and net profit

of USD 15.8 million (USD 3.8 million loss in Q4).

Revenue efficiency was 90.7% during the quarter (97.7 % in Q4).

Contract utilisation was 50.0% during the quarter, (50 % in Q4).

Contract backlog at the end of Q1 was approximately USD 148 million

(approximately USD 183 million Q4).

The Board approved a dividend distribution payable in Q2 2017 of USD 0.20 per

share.  The shares will trade ex-dividend on 23 May 2017, the record date is 24

May 2017 and the payment date is on or around 23 June 2017.

Please see attached for the Q1 2017 report.

A quarterly presentation will be held on Thursday 11 May 2017at 10:30 CET in

Awilhelmsen's offices at Beddingen 8, Aker Brygge, Oslo, Norway.

A conference call will be held on Thursday 11 May 2017 at 14:00 UK time (15:00

CET / 09:00 EST). The presentation will be available for download on the

Investor Relations section (go to "Press Releases")

at www.awilcodrilling.com prior to the call. There will be a Q&A session after

the presentation.

Click this link to register for the conference call, or copy and paste the

following address into your browser:

http://members.meetingzone.com/selfregistration/registration.aspx?booking=LN6lmt

WbyEiqCOFnRTyp1BzBtm2b3ooR0kp9AIN2WyI=

Once registered, you will receive an email with dial-in numbers and pins.

Aberdeen, 11 May 2017

For further information please contact:

Jon Oliver Bryce, CEO

Phone: +44 1224 737900

Cathrine Haavind, IR Manager

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.