NOTE: THE COMPANY IS AN INVESTMENT ENTITY AND SHALL NOT CONSOLIDATE ITS
SUBSIDIARIES.

(Limassol, 6 November 2020) S.D. Standard Drilling Plc (Standard Drilling, OSE:
SDSD) had a negative adjusted EBITDA of USD 0.9 million in the third quarter of
2020 from the underlying operations of Platform Supply Vessels (PSVs) (Q3 2019:
USD 3.3 million positive), with a utilization of 66 % on fully owned large-sized
PSVs (Q3 2019 95%). The reported equity per share is NOK 1.60. 

Standard Drilling reported an operating loss of USD 6.1 million in the third
quarter 2020 (Q3 2019: Profit USD of 0.6 million), following unrealized loss on
revaluation of financial assets representing investments held in the PSV and
VLCC markets of USD 6.2 million. Standard Drilling is an investment entity and
shall not consolidate its subsidiaries. Therefore, the company measures its
investments in PSVs and VLCC based on fair value estimates from reputable
independent valuers. Revenues and EBITDA from chartering out the vessels are not
consolidated into, nor reflected in the financial statements. 

From operation of the PSVs the group had an underlying negative adjusted EBITDA 
in the third quarter 2020 of USD 0.9 million (Q3 2019 USD 3.3 million positive).
The utilization of the large-sized PSV's was 66% in the quarter (Q3 2019 95%). 

"The operating result from the PSV fleet in the third quarter was disappointing
but better than the second quarter. The Covid 19 still has a material impact on
the level of activity. We believe the activity will pick up when the Covid 19
situation is more under control, travel restrictions will ease and the
maintenance programs in the North Sea will go back to normal. Until then, as
repeatedly stated, with our strong balance sheet with no debt and a good cash
position, we will continue to focus on cash preservation and shareholder value",
says Martin Nes, Chairman of the Board of Standard Drilling Plc.

The total cash balance was USD 38.6 million at the end of third quarter,
including pro-rata ownership of the subsidiaries and investments, up from USD
37.4 million at the end of second quarter 2020. The main reason for the cash
increase during the third quarter is related to the operation of the JV owning
the VLCC "Gustavia S".

The VLCC Gustavia S, of which SDSD owns 33,3%, completed its maiden voyage in
June, its second voyage was completed end of August and it will complete its
third voyage mid of November 2020.

In addition to the part-ownership of the VLCC vessel Gustavia S, Standard
Drilling currently owns 100% of four large-size modern PSVs. Further, the
company has invested in 8 mid-size PSVs through Northern Supply AS, bringing the
total fleet of partly and fully owned PSVs to 12. The company increased its
ownership in Northern Supply AS from 25.5% to 28.1% in the fourth quarter. The
company has zero debt, cost effective operations and low overhead cost. 
  
ENDS
For additional information, please contact: 
General Manager, Evangelia Panagide at +357 99 77 11 16  
Chairman of the Board, Martin Nes at +47 92 01 48 14

Standard Drilling|www.standard-drilling.com
S.D. Standard Drilling was founded in 2010. In addition to a 33.3% ownership of
a VLCC, the company currently has 100% ownership interest in four large-size
Platform Supply Vessels ('PSVs') and an indirect ownership interest in eight
mid-size PSVs.

1) Excluding non-recurring cost and dry dock, special survey, maintenance and
repair