PRESS RELEASE

SHELF DRILLING ANNOUNCES CONTRACT AWARD FOR THE SHELF DRILLING TENACIOUS 

Dubai, June 5, 2024 - Shelf Drilling, Ltd. ("Shelf Drilling" or the "Company",
OSE: SHLF) announced today that it has secured a 15-month award for the Shelf
Drilling Tenacious jack-up rig for drilling operations offshore West Africa. The
award will begin in direct continuation of the rig's current contract, extending
the commitment until February 2026. The total added contract value is
approximately USD 66 million.

About Shelf Drilling
Shelf Drilling is a leading international shallow water offshore drilling
contractor with rig operations across Middle East, Southeast Asia, India, West
Africa, Mediterranean and North Sea. Shelf Drilling was founded in 2012 and has
established itself as a leader within its industry through its fit-for-purpose
strategy and close working relationship with industry leading clients. The
Company is incorporated under the laws of the Cayman Islands with corporate
headquarters in Dubai, United Arab Emirates. The Company is listed on the Oslo
Stock Exchange under the ticker "SHLF".

Additional information about Shelf Drilling can be found at
www.shelfdrilling.com.

Contact details
For questions or comments, please contact communications@shelfdrilling.com.

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

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange