PRESS RELEASE

SHELF DRILLING SHARE REPURCHASE 

Dubai, December 2, 2019: Reference is made to the stock exchange announcement
dated 2 September 2019 regarding the share repurchase program initiated by Shelf
Drilling, Ltd. (“Shelf Drilling" or the "Company", OSE: SHLF).

Shelf Drilling has on 2 December 2019 bought 19,900 shares in the Company at an
average price of NOK 18.6197 per share. After the transaction Shelf Drilling
holds 408,642 shares in the Company.

About Shelf Drilling
Shelf Drilling is a leading international shallow water offshore drilling
contractor with rig operations across Middle East, Southeast Asia, India, West
Africa and the Mediterranean. 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.