SD Standard Drilling : SDSD-DISCLOSURE OF LARGE SHAREHOLDING AND MANDATORY NOTIFICATION OF TRADE

Reference is made to the stock exchange notice dated 5

January 2017 regarding a contemplated private

placement of up to 111,111,120 new shares (the "New

Shares") in S.D. Standard Drilling PLC ("SDSD") for

gross proceeds of approx. up to NOK 100 million

(the "Private Placement") and today's stock exchange

notice regarding completion of the Private Placement.

In the Private Placement, Saga Tankers ASA, and its

wholly owned subsidiary Strata Marine & Offshore AS

(jointly "SAGA"), have been allocated 7,872,174 New

Shares at the subscription price of NOK 0.90 per New

Share.

As a result of this allocation and all allocations in

the Private Placement, SAGA's shareholding in SDSD

will decrease from 20.34% to 18.49% of total

outstanding share capital, following completion of the

Private Placement and issuance of the New Shares.

Following completion of the Private Placement and

issuance of the New Shares, SAGA will hold 147,183,771

shares in SDSD, corresponding to 18.49% of the total

outstanding share capital.

* * *

For further information, please contact:

CEO Espen Lundaas

[phone]

This information is subject of the disclosure

requirements acc. to §5-12 vphl (Norwegian Securities

Trading Act)