Awilco Drilling PLC - Capital/Financing Update 2014

AWDR - Successfully completed bond issue

Awilco Drilling PLC has successfully completed a USD 125 million secured bond

loan in the Norwegian bond market with maturity in April 2019. The purpose of

the bond loan is refinancing of existing debt and for general corporate

purposes. Settlement date is expected to be 9 April 2014 and the bond loan will

be issued with an interest rate of 7.00%. The bond issue was substantially

oversubscribed. An application will be made for the bond is to be listed on Oslo

Børs.

RS Platou Markets AS acted as sole manager and bookrunner.

Aberdeen, 31 March 2014

For further information, please contact:

Ian Wilson, CFO Awilco Drilling

Telephone: +44 7789 954569

Cathrine Haavind, IR Manager, Awilco Drilling

Telephone: +47 93 42 84 64

Simen Flaaten, RS Platou Markets

Telephone: +47 22 01 63 77

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1772751]

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