Oslo, Norway, April 8, 2025
 
Commercial update:
 
In March 2025, the Company had 10 out of 11 rigs employed and rig utilization
was 91%.

As of April 8, 2025, approximately 91% of available rig days in April are
contracted. We currently anticipate that one of our contracted and employed rigs
will be released in early May. The contracted backlog beyond April is
approximately USD 22.2 million. 

Cash distribution: 

The Board of Directors today approved a monthly cash distribution of
approximately USD 1.7 million based on free cash flow for March 2025. The
distribution will be made from the Company's Contributed Surplus account which
consists of previously paid in share premium transferred from the Company's
Share Premium account.

Key information:

Distribution amount: USD 0.04 per share

Declared currency: USD. Payment to shares registered with Euronext VPS will be
distributed in NOK

Date of approval: April 8, 2025

Last day including right: April 14, 2025

Ex-date: April 15, 2025

Record date: April 16, 2025

Payment date: On or about April 24, 2025

For further queries, please contact:
Marius Furuly, Director of IR and Strategy
Tel: +47 90626191
 

About NorAm Drilling
NorAm Drilling owns and operates a portfolio of eleven advanced drilling rigs
upgraded to maximize drilling efficiency in the Permian Basin in Texas, which is
the largest oil producing region in North America. NorAm Drilling is debt free
and has industry leading operating margins. The Company has a full pay-out
dividend strategy, targeting frequent cash distributions in a profitable market.


www.noramdrilling.com