Awilco Drilling PLC - Share Issue/Capital Change 2018

Awilco Drilling PLC: Option exercised by Shell

With reference to our press release of 18 May 2018, Awilco Drilling PLC is

pleased to confirm that Shell UK Limited has given notice of its intention to

exercise a one well option under the WilPhoenix decommissioning contract. The

contract is therefore extended to 19 firm wells with an estimated duration of

380 days and options for 7 further wells remaining.

WilPhoenix is one of Awilco Drilling's two Enhanced Pacesetter semi-submersibles

and is equipped for drilling in water depths up to 1,200 ft. Awilco Drilling

also has one new build rig on order of Moss CS60 ECO MW design equipped for

drilling in harsh environments, and independent options for additional three

rigs of the same design.

Aberdeen, 30 May 2018

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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