AWDR - Contract signed with Premier Oil

With reference to our press release of 23 March 2012, Awilco Drilling PLC is pleased to confirm that the contract with Premier Oil UK Limited for the provision of WilPhoenix for the drilling of two firm wells and up to two option wells has now been signed. The contract is expected to commence late Q3 2012.

WilPhoenix is one of Awilco Drilling's two Enhanced Pacesetter semi-submersibles and is equipped for drilling in water depths up to 1,200 ft.

Aberdeen, 5 April 2012

For further information please contact:

Jon Oliver Bryce, CEO
Phone: +44 1224 737900

Cathrine Haavind, IR Manager
Phone: +47 93 42 84 64

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