Akastor ASA: Advanced discussions regarding potential investment of USD 75.0 million in Odfjell Drilling Ltd.

Odfjell Drilling Ltd. (OSE: ODL, "ODL "), an international drilling, well service and engineering company, today announced that it is considering to acquire the "Stena Midmax Rig", a Moss CS60E semisubmersible drilling rig. An Akastor owned company is in advanced discussions with ODL to finance USD 75.0 million of the rig acquisition by subscription of a perpetual preferred equity instrument to be issued by ODL. A warranty package will also be included in the structure.

The company will revert with further details should the advanced discussions lead to a final agreement between ODL and Akastor.


For further information, please contact:

Leif Borge
Chief Financial Officer
Mob: +47 917 86 291
E-mail: leif.borge@akastor.com

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.

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Source: Akastor ASA via Globenewswire