Disclosure regarding Sevan Drilling ASA

1/30/2013 11:27 AM EST

(This is a copy of announcement from Seadrill 
Limited, 30.01.2013 at 17:09 hours.)

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 a forward agreement with exposure 
to the same 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 shares.

The total ownership percentage has been calculated 
based on an issued share capital in Sevan of 
336,625,000 shares and do not include the issuance of
the new planned private placement.