OSLO – May 4, 2025 – Dolphin Drilling AS (Dolphin Drilling AS, OSE: DDRIL): Reference is made to previous stock exchange announcement by the company dated April 30, 2025, regarding the company's refinancing plan. As set out in that announcement, the company has entered into an amendment agreement with respect to its existing USD 65 million facility agreement dated December 22, 2023 with security inter alia over the rig Paul B Lloyd Jr. (the "Secured Facility") providing for amortisation relief of the instalments payable for April, May and June 2025 for a total amount of USD 5 million and a waiver of the market capitalisation covenant from March 2025 until May 31, 2025 (the "Waiver and Payment Deferral").
The lender under the Secured Facility has today consented to an extension of certain conditions for the Waiver and Payment Deferral from May 5, 2025, until and including May 31, 2025.
For further information, please contact:
Ingolf Gillesdal, CFO
Mob: +47 920 45 320
Mail: Ingolf.gillesdal@dolphindrilling.com
About Dolphin Drilling AS:
Dolphin Drilling AS is an Oslo listed, Aberdeen head-quartered, company which owns and operates a fleet of harsh environment mid-water & deep-water semisubmersible drilling rigs, capable of working worldwide.