Archer Limited : Archer Limited : First Quarter 2013 Results

         Archer Limited : Archer Limited : First Quarter 2013 Results

Hamilton, Bermuda (May 30, 2013)

First Quarter Highlights

  oFirst quarter revenue of $514.5 million.
  oFirst quarter EBITDA of $39.7 million.
  oNet loss for the quarter of $37.0 million.
  oFirst quarter operational cash outflow of $25.8 million.
  oRaised $250.0 million from the issuance of 208.3 million new shares in a
    private placement
  oNet interest bearing debt at the end of the first quarter 2013 at $982.5
    million.
  oAnnounced the sale of North American Rental and Tubular business for $244
    million.

In connection with the earnings release, a conference call/webcast will be
held at 1PM GMT (2PM CET) on Thursday May 30, 2013.

For information on how to attend the webcast, detailed information is found on
our webpage; http://www.archerwell.com/page/48/webcast.htm

Questions should be directed to:
Fredrik Halvorsen, Chief Executive Officer and Deputy Chairman
Christoph Bausch, Chief Financial Officer
Lars Bethuelsen, Senior Vice-President, M&A and Investor Relations

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

2013 1Q Results

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Source: Archer Limited via Thomson Reuters ONE
HUG#1705726
 
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