SDRL - Seadrill files mandatory offer for remaining shares in Scorpion Offshore

Hamilton, Bermuda, May 10, 2010 - Reference is made to the stock exchange

release dated April 12, 2010 in which Seadrill announced its intention to put

forward a mandatory offer for all the remaining outstanding shares in Scorpion

Offshore Ltd (a company registered in Bermuda with registration number 37220).

Seadrill hereby announces that an offer document where Seadrill makes a

mandatory offer to acquire all outstanding shares in Scorpion not already owned

or controlled by Seadrill has been filed with and approved by Oslo Børs. The

offer is NOK36.00 per share in cash and the acceptance period is from and

including May 10, 2010 to and including June 7, 2010 17:30 CET. For further

information please see the filed offer document in the attachment. The offer

document is also available on the Seadrill web site www.seadrill.com

as well as www.carnegie.no .

A hard copy of the offer document will also be distributed to Scorpion

shareholders registered in the Norwegian Central Securities Depository (VPS)

Seadrill reiterates that it is prepared, subsequent to the completion of the

offer period, to be owner of anything between 40.01% and 100% of Scorpion.

Contact:

Jim Dåtland

VP Investor Relations

Seadrill Management AS

+47 51 30 99 19

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act)

[HUG#1414302]

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