Dolphin Drilling presents its fourth quarter and interim full-year 2022 financial results

28 Feb 2023 07:29 CET

(Oslo, 28 February 2023) Dolphin Drilling AS (Dolphin Drilling, OSE: DDRIL)
today announces a company update following the release of the fourth quarter
2022 financial results, where the key event was the Special Periodic Survey
(SPS) of the Blackford Dolphin prior to the commencement of the drilling
contract with General Hydrocarbons Limited (GHL).

"The fourth quarter of 2022 was a busy period for Dolphin Drilling with the
finalization of the preparation of the Blackford Dolphin to commence its 12
-month drilling contract for GHL in Nigeria in mid-March 2023. Our preparations
in the fourth quarter provided a good platform for 2023 when we will return to
revenue-generating operations," says Bjørnar Iversen, CEO of Dolphin Drilling.

During the first months of 2023, Dolphin Drilling signed a Letter of Award (LOA)
for additional work in Nigeria in direct continuation with the drilling contract
with GHL. The LOA has the potential to extend the backlog by a minimum of 120
days and up to 485 days. The effective day rate associated with the minimum firm
period of the LOA is USD 325,000, including the mobilization fee.

"The most recent LOA to extend Blackford's backlog underlines the potential of
our assets. We currently see increased tender activity for standard moored rigs
in all global markets underlines these expectations," Bjørnar Iversen concludes.

Dolphin Drilling will present its fourth quarter 2022 and interim full-year
results in a webcast today, 28 February 2022, at 10:00 CEST. The presentation
material is enclosed with this announcement. The webcast can be accessed from
this link:

Dolphin Drilling Q4 webcast 2802.2023 - registration
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Questions may be submitted online during the presentation. The fourth quarter
report and presentation are attached to this release and is available on the
company's website. A recording of the presentation will also be made available
after today's event.

For further information, please contact:

Ingolf Gillesdal, Corporate Finance and Investor Relations, tel: +47 920 45 320

Dolphin Drilling | www.dolphindrilling.com
Dolphin Drilling is a leading harsh environment drilling contractor for the
offshore oil and gas industry. Dolphin Drilling owns a fleet of three high
-technical standard 4[th] and 5[th] generation enhanced Aker H3 units, Borgland
Dolphin, Blackford Dolphin, and Bideford Dolphin, operated by an experienced
team with a strong operational track record. The company has approximately 260
offshore and onshore employees, and onshore locations in Norway, Scotland,
Brazil, Nigeria, and Mexico.

More information:
Access the news on Oslo Bors NewsWeb site

583754_20230228_DDRIL_Q4_2022.pdf
583754_Q4_22_Prelim_Earnings_Report_final.pdf