Oslo, 10 May 2024
Dolphin Drilling AS (the "Company") (ticker code: DDRIL) refers to the
announcement on 30 April 2024 regarding the termination of the drilling contract
in Nigeria. Further to the notice of termination to General Hydrocarbons Limited
("GHL"), a Nigerian oil and gas company, in respect of a contract for the
Blackford Dolphin rig, the Company has filed a Request for Arbitration to pursue
the recovery of sums remaining due by GHL.
The termination of the contract is disputed by GHL. GHL have also filed a
Request for Arbitration and, additionally, have made an application to the
Nigerian courts for an interim injunction seeking to maintain status quo,
pending the appointment of an arbitrator. The Company is, together with its
external counsel in Nigeria, immediately taking steps to oppose the interim
injunction before the Nigerian courts.
The Company will continue to update the market on any material developments in
the arbitration and court processes.
For further information, please contact:
Ingolf Gillesdal, Corporate Finance and Investor Relations, tel: +47 920 45 320
Stephen Cox, CFO, tel: +44 7800 612 130