Greka Drilling : Notice of Annual General Meeting

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DRILLING

GREKA DRILLING LIMITED

(Incorporated in the Cayman Islands with limited liability)

Notice of Annual General Meeting

NOTICE IS HEREBY GIVEN that the Annual General Meeting of the shareholders of Greka Drilling Limited (the "Company") will be held at the offices of Smith and Williamson at 25 Moorgate, London EC2R 6AY, at 2:00 p.m. on Tuesday 26 July 2016 to consider the following resolutions:

1. AS AN ORDINARY RESOLUTION THAT, in accordance with the req uirement in the Company's Articles of Association that a director appointed by the Board retire at the next annual general meeting after his appointment and be eligible to stand for election, Mr. Richard Day's and Mr. Sean Mulhearn's retirements be noted, and they both are hereby reappointed as Non-Executive Directors of the Company with immediate effect.

2. AS AN ORDINARY RESOLUTION THAT the Annual Report of the Company for the year ended 31 December 2015, presented by the Chairman to the shareholders at the meeting, be and is hereby approved.

By Order of the Board Randeep S. Grewal

Chairman

For and on behalf of Greka Drilling Limited

Dated: 30 June 2016

NOTES:

1. Members are entitled to appoint a proxy to exercise all or any of their rights to attend and to speak and vote on their behalf at the meeting. A shareholder may appoint more than one proxy in relation to the Annual General Meeting provided that each proxy is appointed to exercise the rights attached to a different share or shares held by that shareholder. A proxy

   need not be a shareholder of the Company. A Form of Proxy, which may be used to make such appointment and give proxy instructions, accompanies this notice. Ifyou do not have a Form of Proxy and believe that you should have one, or if you require additional forms, please contact our Registrars, Capita Asset Services on 0871 664 0300 (calls cost 12p per minute plus network extras. Lines are open 8.30 am - 5.30 pm Mon.-Fri.) or, if calling from outside the UK, on +44 371 664 0300.

2. A Form of Proxy for use at the Meeting is enclosed. Whether or not you propose to attend the meeting in person, you are strongly urged to complete and sign the enclosed Form of Proxy in accordance with the instructions printed on it and to send it to, or deposit it (together with any power of attorney or other authority under which it is signed, or a notarially certified copy thereof) to PXS, 34 Beckenham Road, Beckenham, Kent, BR3 4TU, United Kingdom as soon as possible and no later than 48 hours before the time appointed for holding the Meeting. Returning the completed Form of Proxy will not preclude you

   from attending the Meeting and voting inperson ifyou so wish.

3. In the case of joint holders of record the vote of the senior who tenders a vote, whether in person or by proxy, shall be accepted to the exclusion of the votes of the otherjoint holders, andfor this purpose seniority shall be determined by the order in which the names stand in the Register of Shareholders.

4. The return of a completed Form of Proxy will not prevent a shareholder attending the Annual General Meeting and voting inperson if he/she wishes to do so.

5. To be entitled to attend and vote at the Annual General Meeting andfor thepurpose of the determination by the Company of the votes they may cast), Shareholders must be registered in the Register of Members of the Company at close of business on 22 July 2016 (or, in the event of any adjournment, on the date which is two days before the time of the adjourned meeting. Changes to the Register of Members after the relevant deadline shall be disregarded in determining the rights of anyperson to attend and vote at the meeting.

DRILLING