Good day, and welcome to Awilco Drilling fourth quarter presentation. My name is Eric Jacobs, and I'm the new interim CEO of the company. If you see the agenda, we have a few points to go through today. We will be giving you a little update on the main events since last quarter. We'll give you the figures for the fourth quarter and preliminary results for 2020. The CEO will go through that, Ian. We will then have the U.K. status, where the CEO will give you an update on that. Arbitration cases, that will be me. The company outlook will be me. Then we'll take questions thereafter. Main events. The total Q4 revenue was $8.6 million, which gave us an EBITDA loss of $2.6 million and a net loss of $141.1 million. Ian will go more into details regarding these figures under his presentation. Revenue efficiency was 54.1% during the quarter, due to a combination of repair time and waiting on weather. You'll get more on that from Roddy in a short while. Total contract backlog at end of Q4 2020 was approximately $15 million. The construction contract with Keppel FELS for new build rig number two was terminated during the period. We'll get back to that also. In the same period, we also substantially cost or reduced the cost in our Norway build-up, and that was basically the Stavanger office. We'll talk more about that also. Me replaced the CEO from the first of February. Ian, I think I will leave the second quarter results to you to comment on, and then we'll take it from there. Okay. Thank you, Eric. Just going through the comprehensive income statement for the fourth quarter. Revenue of $8.3 million, which reflects the revenue efficiency of 54.1%. As Eric mentioned, that was principally due to repair time and waiting in weather, and Roddy will provide more color on the repair time incident. Total combined revenue there, $8.6 million. The rig operating expenses of $6.1 million and the OpEx per day for the WilPhoenix during that period was $65,300 per day, and the WilHunter continues in cold stack status, bearing costs of $1,300 per day. The G&A expense, quite high this quarter, $5 million. That includes $1 million in respect of closed down costs for the Stavanger office. There's also some additional professional fees in terms of legal fees for the arbitration case of a further $0.5 million. The underlying G&A expense for the quarter, including ongoing Norway costs, was $3.5 million. Depreciation in line with previous quarters at $2.5 million. Two significant numbers there. Impairment of $25 million. That was a full write-down of what was left of the WilHunter and a partial write-down on the WilPhoenix. The split was about 50/50 of that $25 million. A further $110.8 million derecognition of assets. I think as most people are aware, we do have significant deposits and some additional payments made in respect of variation orders made to Keppel FELS, and that's $97.7 million. A very prudent approach has been taken to basically derecognize the value of those amounts recoverable from Keppel FELS. We're treating that as a contingent asset within the balance sheet. Then a further write-off. Obviously we've been accumulating cost in relation to the project team that would have been a capitalized cost. Without the project going forward, that has been expensed also in quarter four, and that amounted to $13.1 million. Operating loss for the quarter, yes, $141 million. Some small items down below, none of any significance. Total comprehensive loss for the quarter, $141.1 million, equivalent to a loss of $2.59 per share. On the full year results, just very quickly, just a reminder that the contract revenue for the year, $25.3 million, that was a combination of the fixed price contract with Petrofac and then the ongoing work with Serica. The rig operating expenses, during the operating period there, the WilPhoenix, for the period June to December, OpEx of $63,100 per day. Keeping the OpEx levels just below the $65,000 for the year. G&A expense, $13.7 million. That's the U.K. and Norwegian office cost. I think that's really most of the points covered. For the year, total comprehensive loss of $156.1 million, equivalent to $2.86 loss per share. If we can go onto the balance sheet. Rigs machinery and equipment, say, quite a significant decrease during the quarter. Combination of the impairment and the a deposit and variation orders that we are derecognizing from fixed assets and, say, taking them through the P&L. That was a reduction of $43 million plus $13.1 million in respect of the project team costs, say, that had previously been capitalized. The trade and other receivables, say, $3.5, that is the November billing to Serica and some miscellaneous recharges. That's all since been paid. Prepayments and accrued revenue, $2.8 million, that's principally the December accrued revenue plus, say, some recharges. The inventory down to $3 million. $1.6 of the WilHunter inventory was written off. There's a reduction in inventory balance there for the group, down to $3 million. The year-end cash was $14.7 million. Total assets $102 million. Retained earnings, as you see below, obviously we're into a negative situation with retained earnings. That's fully in respect of the impairments and the derecognition. Trade and other creditors, just the usual items in there. Similarly with accruals, no individually significant items. Total equity and liabilities $102 million. That's all I have on that. Roddy, I believe it's over to you. Thank you, Ian, and good afternoon, everyone. Firstly, I think we should start by saying thank you to our crews offshore and the onshore team for continuing to work safely through the whole of 2020 and to date, as they continue with this complex workover in the northern North Sea. The numbers are there. I think, you know, on the OpEx, there's a continued focus on cash preservation, and I think it's a credit to the team that they're able to operate the unit at that rate. That's certainly a continued area of focus. We expect the WilPhoenix to remain on the Rhum workover well into March as things stand at the moment. As per our customers' comments, I think, to the markets generally, it's a complex operation and we continue with it as of the time of speaking. The market outlook, we are seeing a lot of tenders currently, some for 2021, some for 2022. The work that we're seeing in 2021 is substantially of shorter duration, although there are perhaps one or two longer opportunities. As we move into 2022, we're seeing more term opportunities appear in the market, many of those exceeding 12 months and some as much as two years. Those are probably weighted towards the P&A space. We see that plug and abandonment space as being an area of support for the U.K. market in particular, specifically as the large number of wells that remain to be abandoned, is reaching the top of the agendas of the operating companies and, as importantly, the regulators. I think that's all I have to say on the status of the U.K. at the moment, and I'll hand over to Eric for the arbitration. Thank you, Roddy. Yes, the arbitration. I see that we've already gotten a question about when do we expect arbitration to be closed. I think we can say that we expect the first arbitration, there's two cases, one for each rig, they're separate for now. The first one, we think will come to a close somewhere between 12-15 months from now. For the first rig, we're claiming about or claiming $54.7 million. For the second rig, we're claiming $43 million. That one is a little longer out. That's 15-18 months. We estimate that total legal fees for both cases will be approximately $10 million. I think, then we go to company outlook. Going forward, we're working quite hard and pursuing capital sources for our two rigs that were canceled. We are of the clear opinion that we are entitled to get our money back, and we feel very strongly about this. We will pursue this to the end, and we've built a good team that's working on that, and I'm quite optimistic on both cases. For the ongoing work for WilPhoenix, we're working hard there. Roddy mentioned some of that. We feel that the WilPhoenix is well situated for the plug and abandonment work and that space is looking better every day. We'll work hard so that we can get a backlog or a longer backlog for WilPhoenix going forward. I think, going from a strategic point of view, as an investment company in the offshore space, we're looking at opportunities for the rig that we have cold stacked, and pushing for WilPhoenix in the plug and abandonment space. We're also looking for other opportunities in the offshore space, going forward, and we will get back to the shareholders when and if we find something we think is of interest. If we do not find anything that we think is a good return on, then when we receive our funds from Keppel, then one of the options would be to dividend that back to the shareholders. I think, I'll leave it at that, if there are any questions, we're more than happy to answer them. We've gotten one question asking whether we would be able to borrow money for the SPS- Mm-hmm ... or Keppel claim and, the tax claim, or if a, an equity issue would be needed. Think that's a very good question. I'm gonna ask some help from both Ian and Roddy here, my initial thoughts there is that if we get sufficient backlog on the WilPhoenix, then we'll make our far easier to get the loan for the SPS. I think, so if we do like to go for an SPS, then yes, I think we will then have backlog, and then that will enable us to get funds to do the SPS. When it comes to the tax claim and to the arbitration cases, I hope that that won't be necessary that we have to go to the shareholders and get more funds. I think we will see how things going, are going forward. I. Ian, I don't know if you have something you wanna add to that? I think you've pretty much covered it there. I think to go to the market and borrow money for the WilPhoenix SPS, you know, that would be contingent upon having a reasonable backlog and a, you know, a term contract, say, to satisfy the lenders. You know, there is some opportunities out there, and it really does remain on what happens with the backlog situation. There's also opportunities, you know, whether it's a borrowing or whether it's equity. That decision simply hasn't been made at this point in time. Yes. I think, Cathrine, there are more questions. Yes. one question is whether there are any news about, WilHunter. We have no concrete news about the WilHunter now. We are looking at several opportunities for her, but nothing solid for the moment that we can report on. The follow-up question is whether we see any buyers for WilPhoenix and WilHunter. I don't know, Roddy, if you wanna take a crack at that one. Well, I think we're always in the business of entertaining an approach if the approach is on terms that we're prepared to discuss. I think we can say that as to WilHunter, we've already indicated that we're looking at options. We have had approaches. Those have not resulted in a transaction at this time. We'll always be open to conversations about such things. Thank you. The next question is whether Keppel claims damages in excess of the already paid amounts. Well, I can answer that, Cathrine. First of all, I'm a bit reluctant to go in very detail on an ongoing arbitration case. I think that's a good practice not to go too in-depth on it. When it comes to the question for rig number one, Keppel has counterclaimed for the whole amount of the rig. On rig number two, there is no no claim. Thank you. Anything to add there, Roddy? No. I've got nothing to add, Eric. I think the next one is for Ian, if you can give us an update on the U.S.-U.K. tax claim, sorry. Yes. No, sort of, new news of substance other than that a tribunal date has been set. That's been set for the 3rd, 4th and 7th of June. They did try and call it a little bit earlier, but both HMRC and ourselves, it was such short notice it was not practical to proceed. It has been reset, and really there'll be no news until such time as we go through the tribunal process. At least the date has been set. Okay. Thank you. The next question is whether a scrap value of WilHunter would contribute the net value to the company or if it would, the cost would exceed the scrap value. I think, Roddy, maybe you can answer that question. Yeah. We haven't, we haven't made any decision as to recycling of WilHunter, but, you know, it's certainly a question that's been asked a number of times, and we've seen a number of recycling transactions. The outcome of those transactions have generally been positive, cash accretive. It's minimal. It depends very much on the individual circumstances. For modeling purposes, you might, you might anticipate a modest recovery exceeding the cost of recycling has been the experience of our contractors. Thank you. At this moment, we don't have any further questions. If any participants have any further questions, please type them in. No. Well. It seems like there are no further questions, so I will then hand back to Eric to conclude our session for today. Thank you very much for your attention. We will be continuous working to enhance shareholder value, and we'll revert to you when and if we have anything new to inform the market about. If there are no more questions, then you have a very good day. There are no more questions. Thank you. Thank you.