Hamilton, Bermuda, January 30, 2013 - Seadrill Limited ("Seadrill") has received
and accepted an attractive offer from a commercial bank to finance its current
exposure to Sevan Drilling ASA ("Sevan") through a forward agreement. Seadrill
has in connection with this sold its existing 96,000,000 shares and received
aÂ forward agreement with exposure to the sameÂ number of shares. The shares have
been sold at NOK 3.95 per share. The forward agreement runs until 30 April 2013
and has a strike price of NOK 3.9851. Following the new agreement Seadrill are
not longer directly owners of any shares in Sevan, but are exposed though
forward agreements to 96,000,000 shares or 28,52 percent of the outstanding
The total ownership percentage has been calculated based on an issued
shareÂ capital in Sevan of 336,625,000 shares and do not include the issuance of
the new planned private placement.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
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originality of the information contained therein.
Source: Seadrill Limited via Thomson Reuters ONE