Oslo, Norway, July 24, 2024
 
NorAm Drilling AS ("NorAm Drilling" or the "Company") announces that its Chief
Operating Officer Thomas Taylor has on July 24, 2024 exercised 100,000 options
to acquire shares in the Company. 

Due to prior cash distribution adjustments, the strike price per share option is
negative NOK 5.6412. To account for the negative share price, the Company will
settle the net difference in additional 14,103 shares based on its market value
by applying today's volume weighted average price of NOK 40.0004 on the Euronext
Growth Oslo exchange. 

Following this exercise of options, Thomas Taylor owns 133,553 shares in the
Company and has 50,000 share options. 

Please find further details in the enclosed form. 


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