Awilco Drilling PLC

Earnings Release • Feb 11, 2016

AWDR - Awilco Drilling Reports Q4 2015 Results

AWDR - Awilco Drilling Reports Q4 2015 Results

Awilco Drilling PLC reported contract revenue of USD 19.1 million (USD 90.4

million in Q3), EBITDA of USD 3.7 million (USD 74.0 million in Q3) and net loss

of USD 32.9 million after an impairment charge of USD 30 million (USD 57.7

million profit in Q3).

Revenue efficiency was 97.7% whilst operational during the quarter (90.3% in

Q3).

Contract utilisation including unpaid shipyard time was 50.0% during the

quarter, excluding unpaid shipyard time was 26.1% (60.2% in Q3).

Contract backlog at the end of Q4  was approximately USD 258 million

(approximately USD 276 million Q3).

The Board approved a dividend distribution payable in Q1 2016 of USD 0.25 per

share.  The share will trade ex-dividend on 23 February 2016, the record date is

24 February 2016 and the payment date is on or around 18 March 2016.

Please see attached for the Q4 2015 report.

A quarterly presentation will be held on 11 February 2016 at 10:30 CET in

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

A conference call will be held on 11 February 2016 at 14:00 UK time (15:00pm 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. Once registered, you will

receive an email with dial-in numbers and pins.

Aberdeen, 11 February 2016

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.

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