Seadrill Limited - Delisting Announcement 2018

Sevan Drilling Ltd - Chapter 11 Plan Effective

Hamilton, Bermuda, July 2(nd), 2018 - Sevan Drilling Limited ("Sevan" or the

"Company"), makes reference to the announcement made by Seadrill Limited today,

July 2, 2018. Further to Seadrill Limited emerging from chapter 11, the common

shares in Sevan will be delisted from the Oslo Stock Exchange and cancelled in

due course with no recovery for existing shareholders.

FORWARD LOOKING STATEMENTS

This news release includes forward looking statements. Such statements are

generally not historical in nature, and specifically include statements about

the Company's plans, strategies, business prospects, changes and trends in its

business, the markets in which it operates and its restructuring efforts. These

statements are made based upon management's current plans, expectations,

assumptions and beliefs concerning future events impacting the Company and

therefore involve a number of risks, uncertainties and assumptions that could

cause actual results to differ materially from those expressed or implied in the

forward-looking statements, which speak only as of the date of this news

release. Consequently, no forward-looking statement can be guaranteed. When

considering these forward-looking statements, you should keep in mind the risks

described from time to time in the Company's annual report. The Company

undertakes no obligation to update any forward looking statements to reflect

events or circumstances after the date on which such statement is made or to

reflect the occurrence of unanticipated events. New factors emerge from time to

time, and it is not possible for the Company to predict all of these factors.

Further, the Company cannot assess the impact of each such factor on its

business or the extent to which any factor, or combination of factors, may cause

actual results to be materially different from those contained in any forward

looking statement.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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