Dolphin Drilling AS - Update on Blackford Dolphin

01 Jul 2024 20:08 CEST

(Oslo, 1 July 2024) Dolphin Drilling AS (Dolphin Drilling, OSE: DDRIL) refers to
the 10 and 15 May 2024 announcements regarding the termination of the drilling
contract with General Hydrocarbons Limited (GHL), and the request for
arbitration to pursue the recovery of sums remaining due by GHL.

Dolphin Drilling confirms the submission of a bank guarantee of USD 20 million
and the removal of the Blackford Dolphin from Nigerian waters. The rig will
continue the transit to India to commence the next contract.

Dolphin Drilling is currently in the process of negotiating a debt facility
underwritten by DNB Markets, part of DNB Bank ASA in order to bridge the funding
for the security required and will continue to update the market on material
developments as they occur.

ENDS

For further information, please contact:

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

Stephen Cox, CFO, tel: +44 7800 612 130

About 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 4th and 5th generation enhanced Aker H3 and H4 units,
Borgland Dolphin, Blackford Dolphin, and Paul B. Loyd, Jr., operated by an
experienced team with a strong operational track record. The company has
offshore and onshore offices and operations in Norway, Scotland, and Brazil.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 the Norwegian Securities Trading Act. This stock exchange
announcement was published by Ingolf Gillesdal, VP Corporate Finance and
Investor Relations Dolphin Drilling AS on 1 July 2024 at 20.07 CET on behalf of
the company.

More information:
Access the news on Oslo Bors NewsWeb site