NOT  FOR  DISTRIBUTION  OR  RELEASE,  DIRECTLY  OR INDIRECTLY, TO U.S. NEWS WIRE
SERVICES  OR FOR DISSEMINATION IN THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR
HONG  KONG, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD
BE  UNLAWFUL OR WOULD REQUIRE REGISTRATION  OR OTHER MEASURES. THIS ANNOUNCEMENT
DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Aberdeen, 5 September 2023

Reference is made to the stock exchange notice from Awilco Drilling Plc ("Awilco
Drilling"  or  the  "Company")  on  22 August  2023 regarding  the  start of the
subscription period in the subsequent offering (the "Subsequent Offering") of up
to 469,400 new sponsored Norwegian depository receipts (the "Offer Shares") at a
subscription price of NOK 9 per Offer Share (the "Offer Price").

The  subscription period in the  Subsequent Offering (the "Subscription Period")
will  expire today, 5 September 2023, at 16:30 hours (CEST). Subscription rights
that  are  not  used  to  subscribe  for  Offer  Shares before the expiry of the
Subscription  Period will have  no value and  will lapse without compensation to
the holder.

The  terms  and  conditions  for  the  Subsequent  Offering  are  set  out  in a
shareholder    letter   which   is   available   on   the   Company's   website:
https://awilcodrilling.com/shareholders/.

Clarksons  Securites AS is acting as sole manager of the Subsequent Offering and
Nordic  Issuer  Services  AS  is  acting  as settlement agent for the Subsequent
Offering.  Advokatfirmaet Wiersholm AS  is acting as  Norwegian legal counsel to
Awilco Drilling.

For further information about the Subsequent Offering please contact:

Truls   Chr.  Trøan,  Head  of  Investment  Banking,  Clarksons  Securities  AS:
+47 41 40 19 37

Erik Jacobs, CEO of Awilco Drilling