AWDR – Contract signed with Premier Oil

With reference to our press release of 17 April 2012, Awilco Drilling PLC is pleased to confirm that the contract with Premier Oil UK Limited for the provision of WilPhoenix for a term drilling program has now been signed. The program will start in direct continuation from the previous Premier contract and is firm until 28th February 2014 with options for up to an additional 250 days. The contract is expected to commence late Q4 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, 7 May 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 to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.