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Dolphin Drilling ASA – Election of new chairman

Reference is made to the market communication dated 21 May 2019 regarding resignation of board members, including the chairman of Dolphin Drilling ASA (the "Company").   The board of the Company has elected Aksel. O. Hillestad as chairman of the board with effect from 29 May 2019. The new chairman will be registered with the Norwegian Register of Business Enterprises with undue delay. This announcement is made in accordance with the Norwegian Securities Trading Act.

Termination of group management

Reference is made to the previous market communications with respect to the restructuring efforts of Dolphin Drilling ASA ("DDASA"), and in particular the market communication of 12 April 2019 which set out the contemplated restructuring of its drilling business (as defined therein, the "Drilling Restructuring"). As contemplated by DDASA's secured lenders, the Drilling Restructuring will not include the management of DDASA. All of DDASA's key management is employed by Dolphin Drilling Management AS. On this basis, Dolphin Drilling Management AS has today given notice of termination to

Dolphin Drilling ASA – Company update

Reference is made to previous market communication with regards to the refinancing efforts of Dolphin Drilling ASA (the "Company") and its subsidiaries (together the "Group"). Lenders under the Company's USD 2,000 million secured credit facility holding more than 78% of the principal amount outstanding under such facility (the "Majority Lenders") have entered into an agreement for the reorganisation and recapitalisation of the drilling business of the Group (the "Drilling Recapitalisation"). The Majority Lenders include Danske Bank, DNB, SEB and Swedbank, as well as funds advised by

Dolphin Drilling and i3 Energy has entered into a contract for Borgland Dolphin

Dolphin Drilling Ltd., a subsidiary of Dolphin Drilling ASA, has entered into a 94 day contract with i3 Energy for an appraisal and development drilling programme in the UK North Sea, using the semi-submersible drilling rig Borgland Dolphin. The program is scheduled to commence in the window 15th July – 15th August 2019. Borgland Dolphin holds a valid Safety Case for operation on the UK Continental Shelf as well as an Acknowledgement of Compliance for operation on the Norwegian Continental Shelf. Contacts:Ivar Brandvold, CEO, (+47) 22 34 10 00Hjalmar Krogseth Moe, CFO, (+47) 22 34 10

Fred. Olsen Energy ASA: New company name "Dolphin Drilling ASA" registered

Reference is made to the minutes from the extraordinary general meeting held yesterday, 20 December 2018, and the related stock exchange notice whereby the extraordinary general meeting in Fred. Olsen Energy ASA resolved to change the company's name to "Dolphin Drilling ASA". The new company name has now been registered with the Norwegian Register of Business Enterprises. The company's shares will from 27 December 2018 (inclusive) be quoted on Oslo Børs with the new name and the new ticker "DDASA". The ISIN number is unchanged. *** For further information, please contact:

Report for the 2nd quarter 2018 and the 1st half year 2018

Figures in USD FRED. OLSEN ENERGY ASA (FOE) REPORTS AN OPERATING PROFIT BEFORE DEPRECIATION (EBITDA) OF -51 MILLION FOR THE 2ND QUARTER 2018 AND -20 MILLION FOR THE 1ST HALF YEAR 2018 HIGHLIGHTS FOR THE 2ND QUARTER 2018 ·Revenues were 17 million ·EBITDA was negative 51 million ·Impairment of 97 million ·Operating profit (EBIT) was negative 202 million ·Profit before tax was negative 208 million ·Earnings per share were negative 3.12  ·Blackford Dolphin commenced contract in May ·The waiver with financial creditors expired end

Report for the 4th quarter 2017 and preliminary results for 2017

Figures in USD FRED. OLSEN ENERGY ASA (FOE) REPORTS AN OPERATING PROFIT BEFORE DEPRECIATION (EBITDA) OF 10 MILLION FOR THE 4TH QUARTER 2017 AND EBITDA OF 105 MILLION FOR THE YEAR 2017 HIGHLIGHTS FOR THE QUARTER: · Revenues were 50 million · EBITDA were 10 million · Operating profit (EBIT) was -45 million · Profit before tax was -56 million · Earnings per share were -0.94 Post quarter event · New contract for Blackford Dolphin

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