ARCHER - Completed Private Placement
Hamilton, Bermuda (September 1, 2011) Reference is made to the press release dated 31 August regarding a contemplated Private Placement of shares in Archer Limited ("Archer" or the "Company"). The Private Placement was closed on 31 August. The Company has resolved to issue 30,000,000 new shares at NOK 30 per share, raising gross proceeds of NOK 900 million. The Company is pleased to announce that the offering was oversubscribed. Seadrill Limited has been allocated 14,500,000 shares in the Private Placement. Following the Private Placement Seadrill Limited owns 145,778,446 shares,