Awilco Drilling PLC: Awilco Drilling Reports Q1 2020 Results

Awilco Drilling PLC reported nil contract revenue (USD 8.3 million in Q4), EBITDA USD 7.4 million loss (USD 0.5 million loss in Q4) and a net loss of USD 9.4 million (USD 27.0 million loss in Q4).

Revenue efficiency was n/a during the quarter (86.0% in Q4).

Operational uptime was nil during the quarter (100% in Q4).

Contract utilization was nil during the quarter, (43.8% in Q4).

Contract backlog at the end of Q1 was approximately USD 13.8 million (nil Q4).

Please see attached for the Q1 2020 report.

A digital presentation will be held today, 13 May 2020, at 11:00 UK time (12:00pm CET / 06:00 EST). The presentation will be available for download on the Investor Relations section (go to "Press Releases") at www.awilcodrilling.com prior to the meeting. There will be a Q&A session after the presentation.

To join the digital meeting, please click this link or copy and paste the following address into your browser: https://bit.ly/3fEyPXG

Aberdeen, 13 May 2020

For further information please contact:

Jens Berge, CEO
Phone: +44 1224 737900

Cathrine Haavind, IR Manager
Phone: +47 93 42 84 64
Email: ch@awilcodrilling.com

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

Attachment

• AWDR Q1 2020 report