Awilco Drilling Reports Q2 2020

Awilco Drilling PLC reported contract revenue of USD 6.4 million (nil Q1), EBITDA USD 1.5 million loss (USD 7.4 million loss in Q1) and a net loss of USD 4.6 million (USD 9.4 million loss in Q1).

Revenue efficiency was 100% during the quarter (nil in Q1).

Operational uptime was 100% during the quarter (nil in Q1).

Contract utilisation was 34.1% during the quarter (nil in Q1).

Contract backlog at the end of Q2 was approximately USD 19.4 million (USD 13.8 million Q1).

Please see attached for the Q2 2020 report.

A digital presentation will be held today, 12 August 2020, at 13:00 UK time (14:00pm CET / 08:00 EST). The presentation will be available for download on the Investor Relations section (go to “Press Releases”) at prior to the meeting. There will be a Q&A session after the presentation.

To join the digital meeting, please click this link or copy and paste the following address into your browser:

Aberdeen, 12 August 2020

For further information please contact:

Jens Berge, 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.