Awilco Drilling PLC - Earnings Release 2020

Awilco Drilling PLC: Awilco Drilling Reports Q1 2020 Results

Awilco Drilling PLC reported nil contract revenue (USD 8.3 million in Q4),

EBITDA USD 7.4 million loss (USD 0.5 million loss in Q4) and a net loss of USD

9.4 million (USD 27.0 million loss in Q4).

Revenue efficiency was n/a during the quarter (86.0% in Q4).

Operational uptime was nil during the quarter (100% in Q4).

Contract utilization was nil during the quarter, (43.8% in Q4).

Contract backlog at the end of Q1 was approximately USD 13.8 million (nil Q4).

Please see attached for the Q1 2020 report.

A digital presentation will be held today, 13 May 2020, at 11:00 UK time

(12:00pm CET / 06:00 EST). The presentation will be available for download on

the Investor Relations section (go to "Press Releases") at

www.awilcodrilling.com (http://www.awilcodrilling.com) prior to the meeting.

There will be a Q&A session after the presentation.

To join the digital meeting, please click this link (https://bit.ly/3fEyPXG) or

copy and paste the following address into your browser: https://bit.ly/3fEyPXG

(https://eur01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fbit.ly%2F3fEy

PXG&data=02%7C01%7Cchaavind%40awilhelmsen.no%7C28e53cb7af4c4e341a2708d7f58a151a%

7C13406330ee5743ad9fa7ea6e572899d4%7C0%7C0%7C637247846911050626&sdata=%2Fo2G%2BV

ohJQ%2F3%2FUBQ%2FIlP7Minq98BwHV3H0BK6hCfZaI%3D&reserved=0)

Aberdeen, 13 May 2020

For further information please contact:

Jens Berge, 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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