Seadrill Limited — M&A Activity 2010

Jul 19, 2010

Seadrill Limited - Disclosure of acceptances related to the mandatory offer for outstanding shares in Scorpion

Hamilton, Bermuda, July 19, 2010 - Reference is made to Seadrill Limited's

mandatory offer to purchase all outstanding shares in Scorpion Offshore Ltd. at

NOK40.50 per share that expired on Friday, July 16, 2010. Seadrill has received

acceptances for a total of 43,760,355 shares equaling approximately 48.7 percent

of the total number of outstanding shares and votes in Scorpion Offshore Ltd. As

such, Seadrill following completion of the offer period in total controls

88,771,206 shares, which represent approximately 98.8 percent of the outstanding

shares and votes in Scorpion Offshore Ltd. Settlement for shares tendered, is

scheduled to take place on July 21, 2010.

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

(Norwegian Securities Trading Act)

[HUG#1432400]