Awilco Drilling PLC

Earnings Release • May 14, 2014

AWDR: Awilco Drilling Reports Q1 2014 Results

AWDR: Awilco Drilling Reports Q1 2014 Results

Awilco Drilling PLC reported contract revenue of USD 62.7 million (USD 61.4

million in Q4 2013), EBITDA of USD 44.1 million (USD 40.5 million in Q4 2013)

and net profit of USD 34.5 million (USD 31.6 million in Q4 2013).

Revenue efficiency was 97.2% during the quarter (95.6% in Q4 2013).

Contract backlog at the end of Q1 was approximately USD 707 million

(approximately USD 762 million Q4 2013).

The Board approved a dividend distribution payable in Q2 2014 of USD 1.15 per

share.  The share will trade ex-dividend on 19 May 2014, the record date is 21

May 2014 and the payment date is on or around 20 June 2014.

Please see attached for the Q1 2014 report.

A quarterly presentation will be held on the 14th of May 2014 at 10:30 CET in

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

A conference call will be held on the 14th of May 2014 at 14:00 UK time (15:00pm

CET / 9:00 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.

Conference Call Dial-in details:

Standard International Access: +44 (0) 20 3003 2666

UK Toll Free: 0808 109 0700

US Toll Free: +1 866 966 5335

Norway Toll Free: 800 19 457

Password: Awilco

Aberdeen, 14 May 2014

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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