NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES
AND POSSESSIONS, ANY STATE OF THE UNITED STATES OF AMERICA AND THE DISTRICT OF
COLUMBIA) (THE "UNITED STATES"), AUSTRALIA, CANADA, THE HONG KONG SPECIAL
ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA OR JAPAN, OR ANY OTHER
JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE
SECURITIES DESCRIBED HEREIN. 

PRESS RELEASE
SHELF DRILLING HOLDINGS, LTD. ANNOUNCES SENIOR SECURED NOTES LISTING

Dubai, December 21, 2023 - Shelf Drilling Holdings, Ltd. (the "Issuer"), a
wholly owned subsidiary of Shelf Drilling, Ltd. ("Shelf Drilling", OSE: SHLF),
hereby announces that the $1,095,000,000 in aggregate principal amount of its
9 5/8 % Senior Secured Notes due 2029 (the "Notes") issued on October 13, 2023, have
been admitted to the Official List of The International Stock Exchange.

About Shelf Drilling
Shelf Drilling is a leading international shallow water offshore drilling
contractor with rig operations across Middle East, Southeast Asia, India, West
Africa, the Mediterranean and the North Sea. Shelf Drilling was founded in 2012
and has established itself as a leader within its industry through its
fit-for-purpose strategy and close working relationship with industry leading
clients. The company is incorporated under the laws of the Cayman Islands with
corporate headquarters in Dubai, United Arab Emirates. The company is listed on
the Oslo Stock Exchange under the ticker "SHLF".

Additional information about Shelf Drilling can be found at
www.shelfdrilling.com.

Cautionary Statement
The Notes and the guarantees thereof will not be registered under the United
States Securities Act of 1933, as amended (the "Securities Act"), or applicable
state securities laws. Accordingly, the Notes were offered only to qualified
institutional buyers and to non-U.S. persons outside the United States ("U.S.")
in reliance on Rule 144A and Regulation S under the Securities Act,
respectively. Unless so registered, the Notes may not be offered or sold in the
United States or for the account or benefit of any U.S. person or in any way
distributed in the United States except pursuant to an exemption from the
registration requirements of the Securities Act and applicable state securities
laws.

This announcement is for informational purposes only and does not constitute an
offer to sell or a solicitation of an offer to buy the Notes or any other
security and shall not constitute an offer, solicitation or sale in the United
States or in any jurisdiction in which, or to any persons to whom, such
offering, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any jurisdiction.
This announcement is not being made in and copies of it may not be distributed
or sent into any jurisdiction in which, or to any persons to whom, such
offering, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.

This announcement does not constitute and shall not, in any circumstances,
constitute an invitation to the public in connection with any offer or
constitute any offer to the public, each within the meaning of Regulation (EU)
2017/1129 ("Prospectus Regulation"). In member states of the European Economic
Area ("EEA"), this announcement and any offer of the securities were made
pursuant to an exemption under the Prospectus Regulation from the requirement to
publish a prospectus for offers of the securities referred to herein.

The securities are not intended to be offered, sold or otherwise made available
to and should not be offered, sold or otherwise made available to any retail
investor in the EEA. For these purposes, a retail investor means a person who is
one (or more) of: (i) a retail client as defined in point (11) of Article 4(1)
of Directive 2014/65/EU (as amended, "MiFID II")