Dolphin Drilling AS - M&A Activity 2023

Dolphin Drilling announces LOI for a three-year extension for the Paul B. Loyd Jr

(Oslo, 22 June 2023) Dolphin Drilling AS ("Dolphin Drilling") (OSE: DDRIL)

announces an LOI for a three-year extension to the firm contract period for the

Paul B. Loyd Jr.

Dolphin Drilling has received a commitment subject to certain conditions from

Harbour Energy to extend the firm contract period for Paul B. Loyd Jr for an

additional three years until September 2027. The total existing firm contract

plus the new extended commitment represents an estimated contracted revenue

backlog of USD 279 million.

Harbour Energy also maintains a further five one-year options for future

projects post the extension period.

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation and is subject to the disclosure requirements pursuant

to section 5-12 the Norwegian Securities Trading Act.

This stock exchange announcement was published by Ingolf Gillesdal, VP Corporate

Finance and Investor Relations Dolphin Drilling AS on 22 June 2023 at the time

set out in this notice on behalf of the Company.

ENDS

For further information, please contact:

Bjørnar Iversen, Chief Executive Officer, Mobile: +47 932 40 417

Ingolf Gillesdal, Corporate Finance and Investor Relations, Mobile: +47 920

Dolphin Drilling | www.dolphindrilling.com

Dolphin Drilling is a leading harsh environment drilling contractor for the

offshore oil and gas industry. Dolphin Drilling owns a fleet of three high

-technical standard 4[th] and 5[th] generation enhanced Aker H3 units, Borgland

Dolphin, Blackford Dolphin, and Bideford Dolphin, operated by an experienced

team with a strong operational track record. The company has offshore and

onshore employees, and onshore locations in Norway, Scotland, Brazil, Nigeria,

and Mexico.

AI assistant