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Awilco Drilling PLC Capital/Financing Update 2018

May 15, 2018

Capital/Financing Update

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Awilco Drilling PLC: Call Option on Bond AWDR01 Exercised

Reference is made to '7% Awilco Drilling Plc Senior Secured Callable Bond Issue

2014/2019' listed on the Oslo ABM under ticker AWDR01.

On 14 May, Awilco Drilling PLC exercised its call option of this bond at the

rate of 101.5% of par value, in accordance with clause 10.2.1 in the Bond

Agreement. The settlement date will be 30 business days after exercise, being

28th June 2018.

Aberdeen, 15 May 2018

For further information please contact:

Ian Wilson, CFO

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.