SeaDrill Increases Stake in Mosvold Drilling

SeaDrill Limited has acquired 675,662 shares in Mosvold Drilling at NOK 14.0 per share. After this transaction, SeaDrill owns 47,088,162 shares in Mosvold Drilling, representing 40.08% of the total outstanding shares in the company. SeaDrill Limited intends, in line with Mosvold's by-laws, to put forward a mandatory cash offer at NOK 14.00 to all remaining shareholders in Mosvold Drilling. The Offer Document is expected to be available by the next week.

Earlier this month SeaDrill purchased a total of 46,412,500 shares in Mosvold Drilling Ltd equaling 39.5% of Mosvold Drilling's outstanding share capital. SeaDrill Limited has paid NOK 626,042,150 in cash for the shares.

SeaDrill is engaged in the business of owning and operating off- and onshore drilling rigs and other vessels to be used in the exploration for, production and transportation of crude oil.