Seadrill Successfully Completes $38 Million Private Placement

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 $ 3.80 per share. The issue was significantly oversubscribed. Total number of shares outstanding after the offering is 120 million.

The company is in the process of finalizing a firm contract for building of 1 + 1 Semisubmersible rig with a first class shipyard. The proceeds are intended to be used for payment of instalments in connection with this contract, but could alternatively be used for other expansion projects.

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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