Awilco Drilling PLC: Sale of WilPhoenix Concluded

Further to our Press Release of 4 May 2022, Awilco Drilling Plc announces that its fully owned subsidiary, Awilco Drilling Offshore (UK) Limited, has now concluded the previously announced sale of the drilling rig WilPhoenix. Concurrent with this transaction, the short-term shareholder loan with Awilhelmsen Offshore AS and QVT Family Office Fund LP has been redeemed.

WilHunter, Awilco Drilling’s other semi-submersible, is in the process of being sold for recycling.

Aberdeen, 9 June 2022

For further information please contact:

Eric Jacobs, Interim CEO
Phone: +44 1224 737900

Cathrine Haavind, Investor Relations
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.