5 October 2023: LR-Shelf Drilling International, LP, a Cayman Islands exempted
limited partnership ("LR-Shelf Drilling"), an entity owned by private equity
funds managed by Lime Rock Management LP, has today agreed to sell its stake of
17,195,797 shares in Shelf Drilling Ltd (the "Company"), representing
approximately 8.06% of the share capital and votes in the Company, at a price of
NOK 33.00 per share for a total transaction size of approximately NOK 567
million. Following completion of the sale, the aggregate direct and indirect
holding of securities in the Company for funds managed by Lime Rock Management
LP is reduced from 17,350,883 to 155,086 as a consequence of the sale equal to
8.06% of the total number of shares in the Company. Following completion of the
sale, LR-Shelf Drilling will hold no shares in the Company. LR-Shelf Drilling is
represented on the Board of Directors of the Company.