AWDR - Update on Alpha Petroleum and receipt of LOI for WilPhoenix

Reference is made to Awilco Drilling's press release of 27th November 2017. Following revisions to the project schedule the Letter of Award from Alpha Petroleum Resources Limited did not result in an agreed contract for WilPhoenix.

However, we are pleased that Awilco Drilling PLC has signed a Letter of Intent with an undisclosed operator for the provision of WilPhoenix. The program is expected to commence around 1st September 2018, with an estimated duration of 450 days for an undisclosed dayrate.

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, 14 February 2018

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.