Hamilton, Bermuda (May 16, 2014)

First Quarter 2014 highlights

• First quarter revenue from continuing operations of $504.8 million.
• First quarter EBITDA from continuing operations at $39.5 million including a $3.6 million charge for restructuring costs.
• Net loss for the quarter of $8.5 million.
• First quarter operational cash flow of $31.5 million.
• Net interest-bearing debt of $745.4 million at March 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 Friday May 16, 2014.

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

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