Awilco Drilling PLC - Share Issue/Capital Change 2023

Awilco Drilling Plc: New Sponsored Norwegian Depository Receipts (SNDRs) issued

Aberdeen, 27 July 2023

Reference is made to the stock exchange notice from Awilco Drilling PLC ("Awilco

Drilling" or the "Company") on 30 June 2023 announcing the successful placement

of Sponsored Norwegian Depository Receipts (SNDRs) in a private placement in the

Company at a subscription price of NOK 9 per SNDR (the "Private Placement") and

the corresponding issuance of new shares.

On 26 July 2023, the 2,833,690 new shares were legally and validly issued under

Tranche 2 of the Private Placement. Following the issuance of the new shares,

Awilco Drilling has a share capital of GBP 9,196,677.75 divided into 14,148,735

shares, each with a nominal value of GBP 0.65.

Furthermore, Nordic Issuer Services AS, Awilco Drilling's issuer account

operator with Euronext Securities Oslo (the "VPS") has today issued new

2,833,690 SNDRs, each corresponding to one underlying share in Awilco Drilling.

The SNDRs will be delivered to subscribers in the Private Placement on or about

27 July on a delivery-versus-payment basis.

For further information please contact:

Erik Jacobs, CEO of Awilco Drilling; Tel: +47 95 29 22 71

Cathrine Haavind, Investor Relations of Awilco Drilling; Tel: +47 93 42 84 64,

This information is published in accordance with the requirements of the

Continuing Obligations.

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