PRESS RELEASE

SHELF DRILLING ANNOUNCES NEW SHORT-TERM CONTRACT AND EXTENSION


Dubai, August 07, 2025 - Shelf Drilling, Ltd. ("Shelf Drilling" or the
"Company", OSE: SHLF) announced today the award of a short-term contract for the
Shelf Drilling Enterprise and a contract extension for the Trident 16.

The Shelf Drilling Enterprise has secured a contract for one firm well in
Vietnam, with an estimated duration of three months. The rig recently completed
its previous campaign in Thailand in late July, and operations in Vietnam are
expected to begin in early October 2025 shortly after mobilization. 

The Trident 16 has been awarded a three-month extension in direct continuation
of its current contract for operations in the Gulf of Suez offshore Egypt, with
the rig now firm until November 2025. 

The estimated combined value of these two awards is approximately USD 14
million.

Greg O'Brien, CEO, commented:
"These awards contribute to our backlog and near-term revenue visibility and
reflect the continued demand for our versatile fleet across core markets. We
remain committed to delivering safe, reliable and best-in-class operations for
our customers."


About Shelf Drilling
Shelf Drilling is a leading international shallow water offshore drilling
contractor with rig operations across the Middle East, Southeast Asia, India,
West Africa, the Mediterranean and the North Sea. Shelf Drilling was founded in
2012 and has established itself as a leader within its industry through its
fit-for-purpose strategy and close working relationship with industry leading
clients. The Company is incorporated under the laws of the Cayman Islands with
corporate headquarters in Dubai, United Arab Emirates. The Company is listed on
the Oslo Stock Exchange under the ticker "SHLF".

Additional information about Shelf Drilling can be found at
www.shelfdrilling.com.

Contact details
For questions or comments, please contact investor.relations@shelfdrilling.com.

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.