Oslo, 29 December 2025: Deep Value Driller AS (the "Company" and together with
its subsidiaries, the "Group") is pleased to announce the entry into an
extension of the Amended Bareboat Charter with Saipem (the "Charterer") where
the Company and the Charterer has agreed to a firm extension of 31 days until 31
July 2026 (the "Initial Period") for the Group's 7th generation mobile offshore
drilling vessel "Deep Value Driller" (the "Drillship").
Furthermore, the Company and the Charterer has also agreed to an extension on
the Purchase Option to purchase the Drillship (the "Potential Transaction")
until 16 February 2026. The purchase price in the Potential Transaction will be
USD 300 million, plus payment of the remaining hire for the Initial Period (if
any).
In addition, the Charterer has an option to extend the Amended Bareboat Charter
with an additional 365 days (the "Second Period") from 1 August 2026 to 31 July
2027, which must be declared within 16 February 2026. If the Second Period is
extended, the Charterer's right to purchase the Drillship, at the same terms, is
also extended until 31 December 2026.
For more information, please see the Company's announcement of 7 March 2025 and
14 April 2025.
Contacts:
Svend Anton Maier, CEO
+47 41 42 71 29
sam@deepvaluedriller.no
Einar J. Greve, Chairman of the Board
+41 79 644 77 66
ejg@cipriano.no
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
About Deep Value Driller Deep Value Driller AS is a drillship-owning company
which owns the high specification UDW 7th generation drillship "Deep Value
Driller", built in 2014. As part of its strategy, the company has an ambition to
create and maximise value for its customers and investors, while at the same
time ensuring safe and sustainable operation of its drillship. For further
information, visit www.deepvaluedriller.no.
Forward looking statements All statements in this press release other than
statements of historical fact are forward-looking statements, which are subject
to a number of risks, uncertainties and assumptions that are difficult to
predict and are based upon assumptions as to future events that may not prove
accurate. Actual results may differ materially from those expected or projected
in the forward-looking statements. The Company undertakes no responsibility or
obligation to update or alter forward-looking statements for any reason.