Hamilton, Bermuda (February 23, 2015)

Fourth Quarter 2014 highlights

• Fourth quarter revenue from continuing operations of $603.7 million
• Fourth quarter EBITDA from continuing operations at $69.3 million.
• Fourth quarter impairment charge of $58.9 million.
• Net loss for the quarter of $90.2 million.
• Fourth quarter operational cash flow of $30.9 million.
• Net interest-bearing debt of $782.5 million at December 31, 2014.

In connection with the earnings release, a conference call will be held at 7:00 Houston time, 13:00 London time, 14:00 Oslo time on Monday February 23, 2015.

For information on how to attend the webcast, detailed information is found on our webpage; http://archerwell.com/investor-relations/webcast/

Questions should be directed to:
David King, Chief Executive Officer
Christoph Bausch, Chief Financial Officer

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.