Seadrill has entered into a Heads of Agreement ("HOA") with Songa Offshore SE for a potential purchase of the rig Songa Eclipse (UDW semisub). The HOA has certain subjects, hereunder board approval from Seadrill and Songa. A key element in the HOA is that Seadrill is granted exclusivity up to Nov. 15, 2012 to carry out a due diligence of all adequate issues related to the Songa Eclipse.
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