AWDR - Mandatory Notification of Trade

On behalf of QVT Fund LP and Quintessence Fund L.P., funds under the management of QVT Financial LP, it is informed that on the 11 April 2011 QVT Fund LP and Quintessence Fund L.P. have bought 200,000 shares in Awilco Drilling Limited at a share price of NOK 37. After this transaction, funds under the management of QVT Financial LP own 3,993,500 shares equalling 14.79% of the shares in Awilco Drilling Limited.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.