HAMILTON, Bermuda, Dec. 21, 2005 (PRIMEZONE) -- SeaDrill Limited has today acquired 675,662 shares in Mosvold Drilling at NOK 14.0 per share. After this transaction, SeaDrill owns 47,088,162 shares in Mosvold Drilling, representing 40.08% of the total outstanding shares in the company. SeaDrill Limited intends in line with Mosvold's by-laws to put forward a mandatory cash offer at NOK 14.00 to all remaining shareholders in Mosvold Drilling. The Offer Document is expected to be available within the next week.