Seadrill Closes Forward Contracts for Shares in Scorpion Offshore

On December 8, 2008, Seadrill Limited closed forward contracts for 21,587,200 shares in Scorpion Offshore Ltd. Seadrill controls 23,503,092 shares corresponding to 39.1 percent of the outstanding shares.

The total ownership percentage has been calculated based on an issued share capital in Scorpion Offshore Ltd of 60,133,455 shares.