Awilco LNG

Share Issue/Capital Change • May 19, 2017

ALNG - Subsequent Offering

ALNG - Subsequent Offering

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN

PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR

THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE

RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS

ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE

SECURITIES DESCRIBED HEREIN.

Awilco LNG ASA: Subsequent Offering

Reference is made to the stock exchange notice of 18 May

2017 by Awilco LNG (the "Company") regarding the decision to

carry out a subsequent offering (the "Subsequent Offering")

of up to 5,715,000 new shares in the Company (the "Offer

Shares") for gross proceeds of up to NOK 20 million.

The Subsequent Offering will, on the basis of a prospectus

approved by the Norwegian Financial Supervisory Authority,

expected by the end of June 2017, be directed towards

shareholders who (i) are shareholders in the Company as of

18 May 2017, as registered as shareholders in the Company's

register of shareholders with the Norwegian Central

Securities Depositary (Nw. Verdipapirsentralen) (the "VPS")

as of expiry of 22 May 2017, (ii) were not offered to

participate in the Private Placement, and (iii) are not

resident in a jurisdiction where such offering would be

unlawful or, for jurisdictions other than Norway, would

require any prospectus, filing, registration or similar

action (the "Eligible Shareholders"). The Eligible

Shareholders will be granted non-tradable subscription

rights.

The subscription price in the Subsequent Offering is NOK

3.50 per Offer Share, being the same as the subscription

price in the Private Placement. The subscription period in

the Subsequent Offering will commence shortly after

publication of the Prospectus (publication of the Prospectus

expected during end of June 2017).

The following key information is given with respect to the

Subsequent Offering:

Date of announcement of the Subsequent Offering: 19 May 2017

Last day including right: 18 May 2017

Ex-date: 19 May 2017

Record date: 22 May 2017

Date of approval: The Subsequent Offering was approved by

the Company's board of

directors on 18 May 2017.

Maximum number of Offer Shares: 5,715,000

Subscription price per Offer Share: NOK 3.50

For further information, please contact:

Snorre Schie Krogstad, CFO

+47 90 85 83 93

Important information:

The release is not for publication or distribution, in whole

or in part directly or indirectly, in or into Australia,

Canada, Japan or the United States (including its

territories and possessions, any state of the United States

and the District of Columbia) or any other jurisdiction in

which the release, publication or distribution would be

unlawful. This release is an announcement issued pursuant to

legal information obligations, and is subject of the

disclosure requirements pursuant to section 5-12 of the

Norwegian Securities Trading Act. It is issued for

information purposes only, and does not constitute or form

part of any offer or solicitation to purchase or subscribe

for securities, in the United States or in any other

jurisdiction. The securities mentioned herein have not been,

and will not be, registered under the United States

Securities Act of 1933, as amended (the "US Securities

Act"). The securities may not be offered or sold in the

United States except pursuant to an exemption from the

registration requirements of the US Securities Act. The

Company does not intend to register any portion of the

offering of the securities in the United States or to

conduct a public offering of the securities in the United

States. Copies of this announcement are not being made and

may not be distributed or sent into Australia, Canada, Japan

or the United States. The issue, exercise, purchase or sale

of subscription rights and the subscription or purchase of

shares in the Company are subject to specific legal or

regulatory restrictions in certain jurisdictions. Neither

the Company nor the Manager assumes any responsibility in

the event there is a violation by any person of such

restrictions.

The distribution of this release may in certain

jurisdictions be restricted by law. Persons into whose

possession this release comes should inform themselves about

and observe any such restrictions. Any failure to comply

with these restrictions may constitute a violation of the

securities laws of any such jurisdiction. The Manager are

acting for the Company and no one else in connection with

the Private Placement and will not be responsible to anyone

other than the Company for providing the protections

afforded to their respective clients or for providing advice

in relation to the Private Placement and/or any other matter

referred to in this release.

Forward-looking statements:

This release and any materials distributed in connection

with this release may contain certain forward-looking

statements. By their nature, forward-looking statements

involve risk and uncertainty because they reflect the

Company's current expectations and assumptions as to future

events and circumstances that may not prove accurate. A

number of material factors could cause actual results and

developments to differ materially from those expressed or

implied by these forward-looking statements.