NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR TO U.S. NEWS WIRE SERVICES OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL SDSD: ISSUANCE AND ALLOTMENT OF NEW SHARES

Limassol, January 9, 2017

Reference is made to announcements made on December 8 and 9, 2016, concerning a private placement of up to 423,076,924 new shares (the "New Shares") (the "Private Placement") in S.D. Standard Drilling Plc. ("SDSD" or the "Company") and the announcement made December 9, 2016 regarding an extraordinary general meeting in the Company.

The New Shares have now been issued and registered in the VPS with ISIN number CY0107010916 and will be delivered to the investors that have been allotted shares today. The New Shares will start trading on the Merkur Market with ticker: SDSD-ME as of January 10, 2017 with ISIN number CY0107010916.

The New Shares, however, will not be tradable on Oslo Axess until a prospectus has been approved by the Norwegian FSA. Once the prospectus has been approved by the Norwegian FSA the New Shares will start trading on the Oslo Axess with ticker "SDSD" under its original ISIN number being CY0101550917. Such listing prospectus is expected approved and published during February 2017. Notwithstanding the above, the subscribers in the Private Placement will receive partly settlement by way of already issued, existing and tradable shares made available through a lending arrangement certain existing shareholders, against payment of NOK 0.65 per share. These shares are available for trading on the Oslo Axess with ticker "SDSD" under its original ISIN number being CY0101550917. Following the issuance of the New Shares the share capital of the Company has been increased to USD 6,850,769.24 divided into 685,076,924 shares with a par value of USD 0.01 each. For further information please contact: General Manager Evangelia Panagide at +357 99 77 11 16, or Chairman of the Board Martin Nes at +47 92 01 48 14

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

SD Standard Drilling plc published this content on 09 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 09 January 2017 13:13:08 UTC.

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