Oslo, 19 October 2020. Fearnley Securities, (“Fearnleys” or the “Manager”) have
been engaged by Saga Tankers ASA (“Saga Tankers” or the “Seller”) for a
contemplated sale of up to 105,846,245 existing shares in S.D. Standard Drilling
Plc (“SDSD” or the “Company”), representing around 18.4 percent of the issued
share capital and voting rights in the Company (the "Transaction").

The Transaction will be structured as an accelerated book-building process
towards the 30 largest shareholders of Saga Tankers, representing 92.3% of the
shareholders in Saga Tankers. The book-building process will commence following
the publication of this announcement and may be closed at short notice at the
sole discretion of the Seller and the Manager. An announcement will be made
following completion of the book-building to announce, inter alia, the number of
shares sold and the minimum price per share. The minimum order and allocation
has been set to the NOK equivalent of EUR 100,000. The Seller may, however,
allocate amounts below EUR 100,000 to the extent exemptions from the prospectus
requirement in accordance with applicable regulations, including the Norwegian
Securities Trading Act and ancillary regulations, are available. 

The Seller reserves the right, at its sole discretion, to reduce the number of
offer shares or to sell no shares at all.

Saga Tankers is represented on the Board of Directors in SDSD and currently
holds 105,846,245 shares in the Company, representing 18.4% of the share
capital. If all shares are sold, Saga Tankers will no longer hold any shares in
the Company.

Important Notice 
The distribution of this announcement and the offer and sale of the shares in
certain jurisdictions may be restricted by law. The shares may not be offered to
the public in any jurisdiction in circumstances which would require the
preparation or registration of any prospectus or offering document relating to
the shares in such jurisdiction. No action has been taken by the Manager nor any
of its affiliates that would permit an offering of the shares or possession or
distribution of this announcement or any other offering or publicity material
relating to such securities in any jurisdiction where action for that purpose is
required. Persons into whose possession this announcement comes are required to
inform themselves about and to observe any such restrictions. Any failure to
comply with these restrictions may constitute a violation of the securities laws
of any such jurisdiction. 

This press release is for information purposes only and does not constitute or
form a part of an offer to sell or a solicitation of an offer to purchase any
security of the Company in the United States or in any other jurisdiction where
such offer or solicitation is unlawful. The securities of the Company described
in this press release have not been and will not be registered under the U.S.
Securities Act of 1933, as amended (the "Securities Act"), or any applicable
state or foreign securities laws and may not be offered or sold in the United
States absent registration or an exemption from the registration requirements of
the Securities Act. There will be no public offering of securities in the United
States.