SDRL - Statement regarding Ensco's competing bid for Scorpion Offshore Ltd

Hamilton, Bermuda, May 28, 2010 - Reference is made to the conditional offer by

Ensco to acquire shares in Scorpion Offshore Ltd that was disclosed on May 27

this year.

The Board in Seadrill has decided not to accept Ensco's conditional offer for

the shares in Scorpion Offshore Ltd. Seadrill is currently considering if we

should raise our offer price per share in order to secure more than 50 percent

ownership in Scorpion. The strengthening in the US dollar since the originally

Seadrill bid of NOK36 per share was launched gives Seadrill room for an increase

in the offer price. However, the financial commitments to third parties entered

into by the Board of Scorpion subsequent to our offer reduce the value of

Scorpion for Seadrill. As Seadrill has no intention of accepting the current

offer from Ensco, we encourage other shareholders to do the same.

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

(Norwegian Securities Trading Act)

[HUG#1419655]

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