NOTE: THE COMPANY IS AN INVESTMENT ENTITY AND SHALL NOT CONSOLIDATE ITS
SUBSIDIARIES.

(Limassol, 11 November 2021) S.D. Standard Drilling Plc (Standard Drilling,
OSE:SDSD) reported a net loss after tax of USD 2.7 million in the third quarter
of 2021, up from negative USD 6.1 million in the same quarter last year, of
which positive USD 0.5 million are related to the investment portfolio. The
value of the refocused investment portfolio has strengthened substantially after
the end of the third quarter. 

"Standard Drilling continued the transitions towards our renewed focus on more
diversified and liquid investments within the shipping and energy segments in
the third quarter. We are gradually building up our investment portfolio,
expanding the team of investment professionals and implementing the strategy
with controlled risk. We have had a strong value development in the portfolio
after the closing of the quarter and look forward to continue the implementation
of our investment strategy, " says Martin Nes, Chairman of the Board of S.D.
Standard Drilling Plc.

Standard Drilling reported an operating loss of USD 2.7 million in the third
quarter of 2021 (Q3 20: USD (6.1) million), which is the net effect on
unrealized loss on revaluation of financial assets, Platform Supply Vessels
(PSVs) and the Very Large Crude Carrier (VLCC) investments, of USD 3.1 million
and positive USD 0.5 million are related to the investment portfolio. 

Standard Drilling is an investment entity and shall not consolidate its
subsidiaries. Consequently, the company measures its investments in PSVs and
VLCC based on fair value estimates from reputable independent valuers. Revenues
and EBITDA from chartering out the vessels are not consolidated into, nor
reflected in the financial statements. The investment portfolio are valued at
market value.

From operating the PSVs the group had an underlying positive adjusted EBITDA* 
in the third quarter 2021 of USD 0.4 million (Q3 20 USD (0.9) million). The
utilization of the large-sized PSV's was 91 % in the quarter (Q3 20: 66%). 

During the quarter, Standard Drilling announced the sale of large size PSV
Standard Olympus. In addition Northern Supply AS, where Standard has an
ownership of 28%, sold the medium size PSV FS Bergen. 

At the end of the third quarter, Standard Drilling held shares in Weatherford
International Plc and other investments for USD 22.2 million, classified as
financial assets held for trading.

"After the quarter end, we disposed our ownership related to the VLCC Gustavia
S, which increases our cash holding with USD 14.1 million. In addition, we have
seen a substantial increase of our investment portfolio to USD 65 million,
whereof gains year to date corresponds to USD 17 million, "Nes concludes. 
  
ENDS
For additional information, please contact: 
General Manager, Evangelia Panagide at +357 99 77 11 16  
Chairman of the Board, Martin Nes at +47 92 01 48 14

*Excluding non-recurring cost and dry dock, special survey, maintenance and
repair

Standard Drilling|www.standard-drilling.com
S.D. Standard Drilling is an investment company founded in 2010. The company
holds a focused investment portfolio and a fleet of Platform Supply Vessels
(PSVs). S.D. Standard Drilling is headquartered in Cyprus and is listed on Oslo
Stock Exchange with the ticker code SDSD.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act.
This stock exchange announcement was published by Espen Lundaas, on 11 November
2021 at 07:00 CET.