Rig: Well-Safe Defender

Operational Update for WilPhoenix

Reference is made to Awilco Drilling's press release of 17 June. Awilco Drilling PLC is pleased to confirm that the WilPhoenix has moored at Apache's drilling location on the Storr field and resumed operations last night, 26 June. WilPhoenix is one of Awilco Drilling's two enhanced pacesetter semi-submersibles and is equipped for drilling in water depths up to 1,200 ft.

Operational Update for WilPhoenix

Reference is made to Awilco Drilling's press release of 26 April 2016 and the Q1 2016 presentation given on 11 May 2016. Awilco Drilling PLC and Apache North Sea Ltd. have agreed that WilPhoenix should leave the yard in Hartlepool around 22 June 2016 and resume operations at Apache's first drilling location around 26th June. A further update will be released once drilling operations have been resumed. WilPhoenix is one of Awilco Drilling's two enhanced pacesetter semi-submersibles and is equipped for drilling in water depths up to 1,200 ft.

Consent for exploration drilling for Faroe Petroleum

Faroe Petroleum has received consent to drill an exploration well in block 37/1. Faroe Petroleum Norge AS (Faroe Petroleum) is the operator for production licence 740 in the North Sea. The exploration well will be the first to be drilled in this production licence. It will be drilled in a prospect named Brasse, with the designation 31/7-1. The location is 16 km south-east of Oseberg A and approx. 93 km west of Sotra in Hordaland. Water depth at the site is 188 metres. The drilling will start in the second half of May at the earliest, with an estimated duration of up to 57 days. The drilling will be performed using Transocean Arctic, which is a semi-submersible mobile drilling facility operated by Transocean Offshore (North Sea) Ltd NUF. It was built by Mitsubishi Heavy Industries in Japan in 1987, and substantially upgraded in 2004. Transocean Arctic was issued with an Acknowledgement of Compliance (AoC) by the PSA in July 2004. The PSA has granted Faroe Petroleum consent for the exploration drilling.

Operational Update for WilPhoenix

Reference is made to Awilco Drilling's press release of 4 April 2016. The yard stay for WilPhoenix is now complete and Awilco Drilling considers the rig to be, in all respects, ready to drill awaiting Apache North Sea Ltd's instructions to resume operations. The total cost for the yard stay and the installation of the new BOP was below the budget of USD 42.5 million. In accordance with the contract, Awilco Drilling considers that WilPhoenix is on standby rate from the completion of the yard stay. Apache North Sea Ltd. does not agree that the rig is ready to drill nor that Awilco Drilling is entitled to standby rate at this point. A further update will be released as and when appropriate.

AWDR - Operational Update for WilPhoenix

Reference is made to Awilco Drilling's press release of 29 February 2016 and the Q4 2015 presentation given on 11 February 2016. The yard stay for WilPhoenix is taking longer than anticipated and in the meantime the rig remains berthed at Hartlepool on zero dayrate. Awilco Drilling is working expediently to close out the yard stay in co-operation with Apache North Sea Ltd. The estimated total cost for the yard stay and the installation of the new BOP continues to be below the budget of USD 42.5 million. A further update will be released upon re-commencement of the rig's remaining 22 months of its three-year contract. WilPhoenix is one of Awilco Drilling's two enhanced pacesetter semi-submersibles and is equipped for drilling in water depths up to 1,200 ft.

Operational Update for WilPhoenix

The WilPhoenix remains berthed at Hartlepool while awaiting final project acceptance by Apache North Sea Ltd prior to re-commencement of the remaining 22 months of its three-year contract. A further update will be released upon re-commencement of normal operations. WilPhoenix is one of Awilco Drilling's two enhanced pacesetter semi-submersibles and is equipped for drilling in water depths up to 1,200 ft.

Premier Oil extend existing contract for Awilco Drilling's 'WilPhoenix' rig

Awilco Drilling, the UK based drilling contractor that operates two semisubmersible rigs in the North Sea has announced the exercising of a contract option by Premier Oil UK for the company’s ‘WilPhoenix’ rig. The 250 day contract option is related to the contract signed between Premier and Awilco for use of the ‘WilPhoenix’ rig on 7th May 2012 and the extension means the unit will now be contracted to Premier Oil until the 31st October 2014 at the latest. The extension of the existing contract coincides with the extension of another contract Premier Oil has for the same rig, which was originally intended to be for 70 days but has now been increased to 80 days.

Awilco secures new North Sea drilling contract

UK based rig operator Awilco Drilling has announced that the company has been awarded a new three year contract for its ‘WilPhoenix’ semi-submersible drilling unit for operations in the UK North Sea. The contract has been awarded to the operator by Apache North Sea and Taqa Brantani for the use of the ‘WilPhoenix’, with the total value of the contract expected to be around US$424 million. The contract is expected to commence in the second half of 2014. The award of the contract now means that Awilco has secured long term drilling contracts for both of its semi-submersible assets with the company’s other unit the ‘WilHunter’ currently contracted through to the end of November 2015.

LUNDIN PETROLEUM SPUDS TORPHINS EXPLORATION WELL, OFFSHORE UNITED KINGDOM

Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that drilling of the exploration well 21/8-4 on the Torphins prospect located in block 21/8, production licence P1107, in the central North Sea sector of the United Kingdom Continental Shelf (UKCS), has commenced. Well 21/8-4 is targeting the Palaeocene sandstone reservoir. The Torphins prospect is defined by a 3D seismic anomaly. The estimated unrisked gross potential is approximately 30 million barrels of oil equivalent (mmboe). Lundin Petroleum has contracted the Transocean's GSF Arctic II semi-submersible rig to drill this prospect. Drilling is expected to take up to 75 days. Well 21/8-4 is located 12km north of the Lundin operated Scolty discovery drilled in late 2007 and is targeting a similar amplitude anomaly. Lundin Petroleum is the operator with 40 percent interest. Partners are Challenger Minerals (North Sea) Limited and Revus Energy (E&P) Limited.