Hunter Group ASA

HUNT: Dwellop's board approves WOR contract - effective contract subject to

certain closing conditions

The board of directors in Dwellop has today approved a contract for one work

-over rig (WOR) with an undisclosed client in Asia.

The scope of work is similar with Dwellop's latest WOR delivered, however the

contracted WOR shall comply with "NORSOK" requirements and include a Hunter

Crane. In addition, Dwellop will be responsible for delivery of the cement unit.

The contract is subject to certain closing conditions, primarily that the yard

needs to conclude on a contract with its client. If a firm contract between the

yard and its client is not signed, Dwellop's contract will be cancelled.

Hunter Group is about to secure a project financing facility for the

construction process. The construction period is estimated to 18 months.

This information is subject to disclosure requirements pursuant to section 5-12

of the Norwegian Securities Trading Act.

For further information, please contact:

Vegard Urnes, interim CEO, +47 90 58 54 32, [email protected]

Ola Beinnes Fosse, CFO, +47 97 53 12 27, [email protected]

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