SHELF DRILLING, LTD. PRESS RELEASE SHELF DRILLING SHARE REPURCHASEDubai ,January 20 2020 : Reference is made to the stock exchange announcement dated2 September 2019 regarding the share repurchase program initiated byShelf Drilling, Ltd. ("Shelf Drilling " or the "Company", OSE: SHLF).Shelf Drilling has on20 January 2020 bought 15,000 shares in the Company at an average price ofNOK 23.0127 per share. After the transactionShelf Drilling holds 232,483 shares in the Company. AboutShelf Drilling Shelf Drilling is a leading international shallow water offshore drilling contractor with rig operations acrossMiddle East ,Southeast Asia ,India ,West Africa and the Mediterranean.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 theCayman Islands with corporate headquarters inDubai, United Arab Emirates . The company is listed on theOslo Stock Exchange under the ticker "SHLF". Additional information aboutShelf Drilling can be found at www.shelfdrilling.com. Contact details For questions or comments, please contact investor.relations@shelfdrilling.com This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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