PRESS RELEASE

SHELF DRILLING ANNOUNCES CHANGES TO THE BOARD OF DIRECTORS

Dubai, 13 August 2020 - Shelf Drilling, Ltd. ("Shelf Drilling" or the "Company",
OSE: SHLF) has been notified by each of Hongyuan Wang and Menggui Zhang of their
respective resignations as directors of the Company with effect from August 31,
2020.

David Mullen, CEO, commented: "I would like to thank Hongyuan and Menggui for
their valuable contributions during their respective tenures and wish them both
well in the future." 

The Board of Directors of the Company has, based on the unanimous recommendation
of the Nomination Committee, decided to nominate Mr Cong Yongjian and Mr Lou
Dongyang for election as directors of the Company at the annual general meeting
to be held on August 31, 2020.

Biographies of the nominated directors are set out below:

Mr. Cong Yongjian, aged 44, is an attorney admitted in the bars of People's
Republic of China and New York State of the United States of America. He has
over 15 years of extensive experience in alternative investments and legal
practice, including cross-border acquisitions, private equity investments,
mezzanine financing, debt restructuring, asset restructuring and other special
situations investments. Mr. Cong has been the person in charge of China
Merchants Capital Marine Industry Fund since 2013. From 2011 to 2013, he was one
of the founding members of China Development Bank International Holdings Ltd
("CDBI"), where he served on the Investment Committee and was in charge of fund
and legal departments. At CDBI, Mr. Cong led the equity investment amounting to
US$200 million in Alibaba Group as well as many privatization transactions of
Chinese companies listed overseas. In addition, as the person in charge of the
fund department of CDBI, he directly led the establishing of over US$5 billion
of USD- and RMB-denominated funds. From 2005 to 2010, he worked in alternative
investments at J.P. Morgan, Standard Chartered, and other global financial
institutions, and was mainly engaged in private equity investments, real estate
investments, mezzanine financing, acquisition and disposal of non-performing
assets, and other special situations investments. His projects spanned across
major cities in Asia, and was the person in charge of stripping, restructuring
and acquisition of distressed assets of financial institutions in China and
Malaysia. Mr. Cong obtained degrees of Master of Laws from both University of
International Business and Economics in the PRC and Cornell University in the
USA. Moreover, he was an independent non-executive director of Sunway
International Holdings Limited (00058.HK) from 14 August 2015 to 6 June 2019.

Mr. Lou Dongyang, aged 44, is currently a Chairman and Non-executive Director in
CMIC Ocean En-Tech Holding Co., Ltd. since April 2018. He is also the Chief
Financial Officer of China Merchants ("CM") Industry Holdings Co., Ltd. Mr. Lou
served as an engineer in the Chemical Engineering Office of the Institute of
Standardization of Nuclear Industry and as secretary-general for the National
Technical Committee for Standardization of Radioisotopes from July 1997 to
October 2001, as an engineer in the Planning Department in China Isotope Company
from October 2001 to August 2003, as a specialist of the board of supervisors
for Key Large State-Owned Enterprises under the State Council from August 2003
to August 2004, as deputy head of the board of supervisors for Key Large
State-Owned Enterprises under the State Council from September 2008 to September
2012, as an assistant to the department director of the intellectual property
administrative department of China Merchants Group Limited ("CM Group") from
September 2012 to May 2015, as an assistant to the department director of the
finance department (intellectual property department) of CM Group from May 2015
to October 2015, and as a deputy department director of the finance department
(intellectual property department) of CM Group from October 2015 to November
2017. Mr. Lou obtained a bachelor's degree in applied chemistry from Peking
University in 1997 and a master's degree in business administration also from
Peking University in 2002.

About Shelf Drilling 
Shelf Drilling is a leading international shallow water offshore drilling
contractor with rig operations across Middle East, Southeast Asia, India, West
Africa and the Mediterranean. Shelf Drilling was founded in 2012 and has
established itself as a leader within its industry through its fit-for-purpose
strategy and close working relationship with industry leading clients. The
company is incorporated under the laws of the Cayman Islands with corporate
headquarters in Dubai, United Arab Emirates. The company is listed on the Oslo
Stock Exchange under the ticker "SHLF". 

Additional information about Shelf Drilling can be found at
www.shelfdrilling.com. 

Contact Details 
For questions or comments, please contact investor.relations@shelfdrilling.com. 

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

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