Transocean Ltd : Transocean Ltd. Management and Board of Directors Share Their Perspectives On the Right Path Forward to

Transocean Ltd : Transocean Ltd. Management and Board of Directors Share Their
     Perspectives On the Right Path Forward to Maximize Shareholder Value

       

      Company Launches Twitter Handle to Foster Shareholder Interaction

ZUG, SWITZERLAND--Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today released
videos from Chairman of the Board of Directors, J. Michael Talbert; Director
and Corporate Governance Chair, Martin McNamara; President and Chief Executive
Officer, Steven Newman; and Executive Vice President and Chief Financial
Officer, Esa Ikäheimonen, on its recently launched website
www.transoceanvalue.com. Transocean and its Board of Directors remain
committed to ensuring consistent and transparent communication with its
shareholders. Aligned with that effort, the company also launched a Twitter
handle @TransoceanValue. 

Within the videos, Transocean's leadership shares the company's key positions
and recommendations outlined in the proxy statement for the May 17, 2013
Annual General Meeting ("AGM"). These include:

  *The Board has proposed a dividend of $2.24 per share - or approximately
    $800 million in the aggregate - which supports the company's balanced
    capital allocation strategy and represents one of the industry's largest
    payout ratios and implied yields. The Board is confident that its proposed
    dividend will maximize long-term value creation and, importantly, in its
    view, establishes a basis that is sustainable and supports future dividend
    increases as business conditions warrant.

  *The company has put forth five highly qualified and diverse Director
    nominees - Frederico F. Curado, Thomas W. Cason, Steven L. Newman, Robert
    M. Sprague and J. Michael Talbert - with very deep industry experience and
    unique viewpoints. The election of Mr. Curado would represent the seventh
    new director in the last two years, aligning with the company's efforts to
    regularly infuse fresh perspectives into an extraordinarily experienced
    and knowledgeable Board.

  *The company has made significant and tangible progress toward its goals to
    improve its operational and financial performance, including improved
    revenue efficiency, utilization and cash flow from operations.

The company encourages shareholders to watch these compelling video
perspectives from Transocean's leadership as they discuss their commitment to
delivering long-term value to shareholders.

About Transocean

Transocean is a leading international provider of offshore contract drilling
services for oil and gas wells. The company specializes in technically
demanding sectors of the global offshore drilling business with a particular
focus on deepwater and harsh environment drilling services, and believes that
it operates one of the most versatile offshore drilling fleets in the world.

Transocean owns or has partial ownership interests in, and operates a fleet
of, 83 mobile offshore drilling units consisting of 48 High-Specification
Floaters (Ultra-Deepwater, Deepwater and Harsh-Environment drilling rigs), 25
Midwater Floaters and 10 High-Specification Jackups. In addition, we have six
Ultra-Deepwater Drillships and two High-Specification Jackups under
construction.

For  more   information   about   Transocean,  please   visit   the   website 
www.deepwater.com.

Forward-Looking Statements

Statements included in this news release and referenced video messages and
Twitter statements, including, but not limited to, those regarding the
proposed dividend, the company's capital allocation strategy, value-creating
objectives and sustainability of potential future distributions, that are not
historical facts, are forward-looking statements that involve certain
assumptions and uncertainties. These statements are based on currently
available competitive, financial, and economic data along with our current
operating plans and involve risks and uncertainties including, but not limited
to, shareholder approval, market conditions, Transocean's results of
operations, the effect and results of litigation, assessments and
contingencies, and other factors detailed in "Risk Factors" in the company's
most recently filed Annual Report on Form 10-K, and elsewhere in Transocean's
filings with the Securities and Exchange Commission. Should one or more of
these risks or uncertainties materialize (or the other consequences of such a
development worsen), or should underlying assumptions prove incorrect, actual
outcomes may vary materially from those expressed or implied by such
forward-looking statements. Transocean disclaims any intention or obligation
to update publicly or revise such statements, whether as a result of new
information, future events or otherwise.

This press release or referenced documents does not constitute an offer to
sell, or a solicitation of an offer to buy, any securities, and it does not
constitute an offering prospectus within the meaning of article 652a or
article 1156 of the Swiss Code of Obligations or a listing prospectus within
the meaning of the listing rules of the SIX Swiss Exchange. Investors must
rely on their own evaluation of Transocean Ltd. and its securities, including
the merits and risks involved. Nothing contained herein is, or shall be relied
on as, a promise or representation as to the future performance of Transocean
Ltd.

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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: Transocean Ltd via Thomson Reuters ONE
HUG#1679482
 
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