Awilco Drilling PLC

Earnings Release • Feb 14, 2017

AWDR - Awilco Drilling Reports Q4 2016 Results

AWDR - Awilco Drilling Reports Q4 2016 Results

Awilco Drilling PLC reported contract revenue of USD 35.1 million (USD 35.7

million in Q3), EBITDA USD 25.4 million (USD 25.3 million in Q3) and net profit

of USD 14.9 million (USD 17.9 million in Q3).

Revenue efficiency was 97.7% during the quarter (99.1% in Q3).

Contract utilisation was 50.0% during the quarter (50 % in Q3).

Contract backlog at the end of Q4 was approximately USD 159 million

(approximately USD 195 million Q3).

The Board approved a dividend distribution payable in Q1 2017 of USD 0.20 per

share.  The shares will trade ex-dividend on 21 February 2017, the record date

is 22 February 2017 and the payment date is on or around 24 March 2017.

Please see attached for the Q4 2016 report.

A quarterly presentation will be held on Tuesday 14 February 2017at 10:30 CET in

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

A conference call will be held on Tuesday 14 February 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=dYhZth

gt2HQMynBb54xcCL5X3xIScaiqznEhanzwBXA=

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

Aberdeen, 13 February 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.