Deep Value Driller AS (the "Company") is pleased to announce that it has secured
a USD 10 million senior secured credit facility with a Norwegian bank (the
"Loan").

The net proceeds from the Loan will be used to keep the Company's 7th generation
mobile offshore drilling vessel (the "Rig") warm stacked at Westcon Yard in
Ølensvåg in an improving market while being ready to commence activation of the
Rig upon contract. 

The Loan has been guaranteed by certain of the Company's large shareholders
against compensation on market terms. 

The Loan will be secured by 1st priority pledge in the Rig and will carry an
interest on market terms. The Loan will mature 12 months from the utilization
date. 

The Company is also working on a credit facility to cover reactivation cost to
make the Rig ready to drill upon contract.

Contacts
Svend Anton Maier, CEO
+47 41 42 71 29 
sam@deepvaluedriller.no 

About Deep Value Driller  

Deep Value Driller AS is a drillship-owning company which has acquired the high
specification UDW 7th generation drillship "Deep Value Driller", built in 2014.
The Company's strategy is to secure contracts for its drillship with top-tier
drilling contractors worldwide. As part of its strategy, the Company has an
ambition to create and maximise value for its customers and investors, while at
the same time ensuring safe and sustainable operation of its drillship. For
further information, visit www.deepvaluedriller.no. 

Disclosure regulation

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act. The information was
submitted for publication by CEO Svend Anton Maier on 20 May 2022 at 16:12 CEST.