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Seadrill Limited : SDRL - Disclosure regarding Sevan Drilling ASA



      Seadrill Limited : SDRL - Disclosure regarding Sevan Drilling ASA

Hamilton, Bermuda, February 7, 2013 - Reference is made to the stock  exchange 
notice from  Sevan  Drilling ASA  ("Sevan"),  dated 15  January,  2013,  where 
Seadrill Limited ("Seadrill") in  a private placement  had been allocated  and 
subscribed for 81,828,500 shares in Sevan at a subscription price of NOK 3.95.
Subsequently, Seadrill received and accepted  an offer from a commercial  bank 
to finance these shares. In connection  to this, Seadrill has transferred  its 
entire allocation  to the  same commercial  bank and  entered into  a  forward 
agreement to buy the same number  of shares. The forward agreement runs  until 
May 6, 2013 and has a strike price of NOK 3.9815 per share.

Following this  transaction, Seadrill  will not  directly hold  any shares  in 
Sevan, but will be exposed through forward agreements to 177,828,500 shares or
30.31 percent of the  outstanding shares following  completion of the  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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This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
the
information contained therein.

Source: Seadrill Limited via Thomson Reuters ONE
HUG#1676282
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