NorAm Drilling AS – Change of company name and new registered share capital

5 October 2022

Reference is made to the announcement of 3 October 2022 by NorAm Drilling AS
(previously NorAm Drilling Company AS) (the "Company") regarding the
extraordinary general meeting held on the same date.  

The resolutions made by the extraordinary general meeting, including, inter
alia, amendments to the Company's articles of association, change of company
name, change of signatory rights and amendment to the share capital pertaining
to the private placement (completed on 23 September 2022) are now registered
with the Norwegian Register of Business Enterprises. 

The new name of the Company is NorAm Drilling AS.
The Company's new share capital is NOK 86,124,634 divided by 43,062,317 shares,
each with a nominal value of NOK 2.

About NorAm 
NorAm Drilling owns and operates a portfolio of eleven advanced drilling rigs
upgraded to maximize drilling efficiency in the Permian Basin in Texas, which is
the largest oil producing region in North America. NorAm Drilling has industry
leading operating margins, and will be virtually debt free. The company will
have a full pay-out dividend strategy, targeting frequent cash distributions in
a raising market. 

NorAm Drilling has in its 15-year history established a solid foothold in US
drilling market, with significant operating experience in Louisiana, New Mexico
and Oklahoma but is now primarily focusing on the Permian Basin in Texas, where
approximately 60% of the proven reserves in the U.S. are located.

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© Oslo Bors ASA, source Oslo Stock Exchange


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