Hamilton, Bermuda (April 29, 2016)

First Quarter 2016 highlights

• First Quarter revenue from continuing operations was $229.2 million
• First Quarter EBITDA from continuing operations of $19.9 million including $8.7 million of restructuring costs
• Net loss for the Quarter of $27.8 million
• First Quarter operating cash flow of $ 6.4 million
• Net interest-bearing debt of $809.0 million at March 31, 2016
• Business was realigned into two reporting segments; Eastern Hemisphere and Western Hemisphere

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 Friday, April 29, 2016.

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

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