Awilco Drilling PLC: Awilco Drilling Reports Q3 2020 results

Awilco Drilling PLC reported contract revenue of USD 10.6 million (USD 6.4 million Q2), EBITDA USD 1.7 million (USD 1.5 million loss in Q2) and a net loss of USD 1.0 million (USD 4.6 million loss in Q2).

Revenue efficiency was 100% during the standard day rate work in the quarter (Q2 fixed price work only).

Operational uptime was 100% during the quarter during the standard day rate work in the quarter (Q2 fixed price work only).

Contract backlog at the end of Q3 was approximately USD 15.2 million (USD 19.4 million Q2).

Please see attached for the Q3 2020 report.

A digital presentation will be held today, on 24 November 2020 at 12:00 UK time (13:00pm CET / 07:00 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/AWDR-Q3-2020

A replay of the presentation will be made available on the Company website after the event.

Aberdeen, 24 November 2020