AWDR - Operational Update for WilPhoenix

Reference is made to the Awilco Drilling Q4 2015 presentation given on 11 Ferburay 2016. The WilPhoenix remains berthed at Hartlepool while awaiting final project acceptance by Apache North Sea Ltd prior to re-commencement of the remaining 22 months of its three-year contract. A further update will be released upon re-commencement of normal operations.

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, 29 February 2016


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.