HAMILTON, Bermuda, Dec. 23, 2005 (PRIMEZONE) -- Reference is made to the press release dated 21 December 2005, in connection with SeaDrill Limited's ("SeaDrill") offer to purchase shares in Mosvold Drilling Ltd.
The acceptance period will commence on Tuesday 27 December 2005 and end on Friday 20 January 2006. Shareholders in Mosvold Drilling Ltd. accepting the Offer will receive a consideration of NOK 14 per share payable in cash.
Settlement for acceptances will be made on a continuous basis to each Acceptant in NOK, as soon as possible and within three banking days after the Receiving Agent (Pareto Securities ASA) has registered the Acceptance. Settlement will be made to the bank account registered in the VPS for dividend payments at the time of the Acceptance, or such other account as notified to the Receiving Agent.
SeaDrill has prepared an Offer Document containing information on the offer which, together with an Acceptance Form, will be sent to all existing shareholders in Mosvold Drilling Ltd. http://hugin.info/135817/R/1027568/164044.pdf
SeaDrill Limited 23 December 2005 Hamilton, Bermuda Contact: Tor Olav Troeim, Director + 44 207 824 5530