Awilco Drilling PLC: Sale of WilPhoenix

Awilco Drilling PLC (the Company) announces that its fully owned subsidiary Awilco Drilling Offshore (UK) Limited has signed a Memorandum of Agreement (MOA) for the sale of the WilPhoenix rig to Well-Safe Solutions Ltd. The agreed purchase price is USD 15.5 million. Expected time of delivery of the rig is on or around 1 June 2022.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. WilHunter, Awilco...

Awilco Drilling PLC (the Company) announces that its fully owned subsidiary Awilco Drilling Offshore (UK) Limited has signed a Memorandum of Agreement (MOA) for the sale of the WilPhoenix rig to Well-Safe Solutions Ltd. The agreed purchase price is USD 15.5 million. Expected time of delivery of the rig is on or around 1 June 2022.

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

Aberdeen, 4 May 2022

For further information please contact:

Eric Jacobs, Interim CEO
Phone: +44 1224 737900

Cathrine Haavind, Investor Relations
Phone: +47 93 42 84 64
Email: [email protected]

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