Deep Value Driller AS announced that it has secured a USD 10 million senior secured credit facility with a Norwegian bank. The net proceeds from the Loan will be used to keep the Company's seventh generation mobile offshore drilling vessel (the Rig) warm stacked at Westcon Yard in Ølensvåg in an improving market while being ready to commence activation of the Rig upon contract. The Loan has been guaranteed by certain of the Company's large shareholders against compensation on market terms. The Loan will be secured by first priority pledge in the Rig and will carry an interest on market terms. The Loan will mature 12 months from the utilization date.

The Company is also working on a credit facility to cover reactivation cost to make the Rig ready to drill upon contract.