Hamilton, Bermuda (August 30, 2013)

Second Quarter Highlights

·            Second quarter revenue from continuing operations of $514.5 million, Year-to-date revenue from continuing operations of $1.0 billion.

·            Second quarter EBITDA from continuing operations of $26.9 million, Year-to-date EBITDA from continuing operations of $55.7 million.

·            Net loss for the quarter of $25.7 million, Year-to-date net loss of $62.7 million.

·            Completed divesture of North American Rental and Tubular business for $244 million.

·            Second quarter operational cash flow of $45.4 million, Year-to-date operational cash flow of $19.6 million.

·            Net interest-bearing debt of $742.1 million at June 30, 2013.

In connection with the earnings release, a conference call/webcast will be held at 1PM GMT (2PM CET) on Friday August 30, 2013.

For information on how to attend the webcast, detailed information is found on our webpage; https://archerwell.com/page/48/webcast.htm

Questions should be directed to:
David King, Chief Executive Officer
Christoph Bausch, Chief Financial Officer
Lars Bethuelsen, Senior Vice-President, M&A and Investor Relations

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