SeaDrill Ltd. Completes Share Issue

The Board of SeaDrill Limited reports that the Company has successfully completed a share issue of 10 million shares in the Company. The share issue was offered at US $ 3.00 per share. The issue was significantly oversubscribed. Total number of shares outstanding after the offering is 110 million.

The company has entered into a letter of intent building a deep water Semi Submersible Rig at a first class yard. Finalization of the contract is expected within the next 30 days. Delivery is expected 32 months later.

The private placement was managed by Pareto Securities ASA and Carnegie ASA.

The shares are listed on the OTC market in Oslo and it is the intention, at a later date, to seek listing at the Oslo Stock Exchange.


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