AWDR – Correction of Allocation in Private Placement

Reference is made to Awilco Drilling PLC’s announcement of 1 June 2011 – Private Placement Completed. The announcement erroneously stated that the Company’s largest shareholder, Awilco Drilling AS, subscribed for 1,286,400 shares in the private placement. The correct number of shares Awilco Drilling AS subscribed for is 1,403,100. Awilco Drilling AS now holds 14,633,100 shares equivalent to 48.73 percent of the outstanding shares in Awilco Drilling PLC.

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