AWDR – Update on LOI for WilPhoenix

Further to our press release of 23rd January 2018 relating to a Letter of Intent with an undisclosed operator for the provision of WilPhoenix for a one well program with an estimated duration of 115 days.

Awilco Drilling has been advised that the operator will no longer proceed with this program of work.

The WilPhoenix is therefore available from around 1st May 2018, prior to its later commitment from around 1st of September 2018.

Aberdeen, 15 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.