Election of new Board Member

Mr. Alf C. Thorkildsen has been appointed to the BassDrill Ltd.’s Board of Directors with immediate effect. Mr. Thorkildsen is a senior partner at HitecVision, BassDrill’s majority owner through the «HitecVision Asset Solutions» fund.

Mr. Thorkildsen replaces Mr. Ola Sætre, founding partner at HitecVision, as Mr. Sætre has resigned his directorship at BassDrill Ltd., also with immediate effect.

Mr. Thorkildsen joined the HitecVision partner group in 2013 from the position as Chief Executive Officer of Seadrill (2008-2012). During his tenure, Seadrill grew to become the world’s largest driller by market capitalisation and enterprise value. From 2007 to 2008 Mr. Thorkildsen served as Chief Operating Officer in Seadrill. From 2002 to 2006, Mr. Thorkildsen was the Chief Financial Officer for the offshore drilling contractor Smedvig, and following the acquisition of Smedvig by Seadrill, Mr. Thorkildsen served as the Chief Financial Officer in Seadrill until 2007. Prior to joining Smedvig, Mr. Thorkildsen worked for more than 20 years at Royal Dutch Shell plc, or Shell, in various senior positions.

Mr. Thorkildsen graduated from Oslo Business School with a degree in economics and from Arizona State University with a Masters of Business Administration.

Contact information:
BassDrill Ltd., Lasse B. Kjelsås, CFO, Tel: +47 908 49 772
E-mail: lasse.kjelsaas@bassdrill.com