Dolphin Drilling AS – Update on Blackford Dolphin

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(Oslo, 15 May 2024) Dolphin Drilling AS (Dolphin Drilling, OSE:DDRIL) refers to the 10 May 2024 announcement 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.

The termination of the contract is disputed by GHL, which also made an application to the Nigerian courts for an interim injunction seeking to maintain status quo, pending the appointment of an arbitrator.

GHL is portraited in Nigerian media to have been granted a permanent restraining order for the rig, which is inaccurate. This has been brought to the court’s attention, whereupon the court has directed GHL’s counsel to take steps to prevent any such further pre-emptive or prejudicial communications from being instigated by GHL, with counsel also undertaking to do so.

The company wishes to clarify that no new decision has been made by the Nigerian court in relation to restraining of the Blackford Dolphin. The situation is that the court has today appointed a mutually acceptable sole arbitrator and will hear arguments on 20 May 2024 on the discharge of the status quo orders earlier granted.

The company will continue to update the market on any material developments in the arbitration and court processes as they occur.

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