Seadrill Cinches 8.1MM Shares in Scorpion

Seadrill Limited has closed previous forward contracts for 8,100,000 shares in Scorpion Offshore Ltd and simultaneously entered into a forward contract for the equivalent number of shares with due date on December 19, 2008.

Following these transactions, Seadrill controls 22,168,692 shares (of which 19,494,700 shares related to forward contracts) corresponding to 37.2 percent of the outstanding shares.

The total ownership percentage has been calculated based on an issued share capital in Scorpion Offshore Ltd of 59,605,156 shares.