Seadrill Closes Scorpion Shares

Seadrill Limited closed previous forward contacts for 11, 394,700 shares in Scorpion Offshore Ltd and simultaneously entered into a forward contract for the equivalent number of shares with due date on December 18, 2008. Following these transactions, Seadrill controls 19,494,700 shares corresponding to 36.0% of the outstanding shares.

The total ownership percentage has been calculated based on an issued share capital in Scorpion Offshore Ltd of 54,205,156 shares.