Archer Limited : Archer Limited : Mandatory notification of trade

      Archer Limited : Archer Limited : Mandatory notification of trade

February 11, 2013

Reference is made to the notification dated February 8, 2013, regarding the
completion of a private placement in Archer Limited (the "Company", OSE:
ARCHER). The allocation of shares mentioned in the following, is conditional
on the Company's shareholders resolving to increase the Company's authorized
share capital and to reduce the par value of the Company's authorized and
issued shares at the special general meeting to be held on February 13, 2013.

Seadrill Limited ("Seadrill") has today been allocated 82,003,000 shares in
the private placement of Archer Limited. The shares were acquired at price USD
1.20 per share. Furthermore, Seadrill will receive 2,811,793 shares in Archer
as compensation for underwriting parts of the private placement.

Following this  purchase  and  the receipt  of  the  underwriting  commission, 
Seadrill will be the owner of 231,053,239 shares in the Company, corresponding
to 39.9% of the total number of outstanding shares in the Company.

Lime Rock  Partners V  L.P. ("LRP"),  a Cayman  Island based  investment  fund 
managed by Lime Rock Management LP ("LRM", and together with LRP "Lime  Rock") 
has today been allocated 20,833,000 shares in the private placement of  Archer 
Limited. The shares were acquired at price USD 1.20 per share.

Furthermore, LRP will receive 416,658 shares in Archer as compensation for
underwriting parts of the private placement.

Following this purchase and the receipt of the underwriting commission, LRP
will be the owner of 66,351,525 shares in the Company, corresponding to 11.46%
of the total number of outstanding shares in the Company. LRP is represented
in Archer Limited's board of directors through Messrs. Saad Bargach and John
T. Reynolds.

Mr. Fredrik Halvorsen, Vice Chairman and CEO and primary insider of Archer
Limited, has today been allocated 116,000 shares in the private placement of
Archer Limited. The shares were acquired at price USD 1.20 per share.

After  this  transaction,  Mr.   Fredrik  Halvorsen  willhold  directly   and 
indirectly 116,000 shares and 1,000,000 stock options in Archer.

Drew Investment Limited, a company controlled by Mr.Tor Olav Trøim,  director 
and primary insider of Archer Limited, has today been allocated 233,000 shares
in the private  placement of Archer.  The shares were  acquired at price  USD 
1.20 per share.

After this transaction, Mr. Tor Olav  Trøim will hold directly and  indirectly 
433,000 shares and 50,000 stock options in Archer Limited.

Mr. Olivier  Muller, President  Emerging Markets  & Technologies  and EVP  and 
primary insider of Archer  Limited has today been  allocated 12,000 shares  in 
the private placement of  Archer Limited. The shares  were acquired at  price 
USD 1.20 per share.

After this transaction, Mr. Olivier  Muller will hold directly and  indirectly 
12,000 shares and 160,000 stock options in Archer Limited.

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

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(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: Archer Limited via Thomson Reuters ONE
HUG#1676950