Seadrill Now Controls Nearly All Eastern Shares, Votes

Seadrill has--after the expiry of the mandatory offer dated April 18, 2007, to acquire all outstanding shares in Eastern Drilling ASA at NOK135 per share--received acceptances for a total of 13,648,434 shares equaling approximately 35.8 percent of the total number of outstanding shares and votes in Eastern Drilling.

Counting the accepted shares and shares already owned, Seadrill now controls 38,052,695 shares, which represent approximately 99.7 percent of the outstanding shares and votes in Eastern Drilling.

Settlement for these shares is expected to take place on May 24, 2007, at the latest.


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