HAMILTON, Norway, Feb. 2, 2006 (PRIMEZONE) -- Reference is made to the press-release dated 30 January 2006 in connection with SeaDrill's offer to purchase shares in Mosvold Drilling Ltd.
The acceptance period will commence on Friday 3 February 2006 and end on Friday 17 February 2006. Shareholders in Mosvold Drilling accepting the Offer will receive a consideration of NOK 17 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 3 banking days after the Receiving Agent (Pareto Securities) 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.
SeaDrill has prepared a letter containing information on the offer which, together with an Acceptance Form, will be sent to all existing shareholders in Mosvold Drilling Ltd.
Offer Letter:
http://hugin.info/135817/R/1032553/166055.pdf
Acceptance:
http://hugin.info/135817/R/1032558/166057.pdf
Hamilton, Bermuda 1 February 2006
SeaDrill is engaged in the business of owning and operating off- and onshore drilling rigs and other vessels to be used in the exploration for, production and transportation of crude oil.
As of the date hereof, the SeaDrill Group owns and operates three jack-up rigs and two FPSO vessels. The SeaDrill Group has furthermore two jack-up rigs on order from KFELS and PPL, two semi submersible rigs on order from Jurong in addition to two semi submersible rigs with harsh environmental specifications on order for Daewoo.
The SeaDrill Group has furthermore two jack-up rigs on order from KFELS, and an option to order a third jack-up rig from the same yard. SeaDrill also hold a minority interest in a number of jack-up rigs, barge rigs and land rigs owned, operated and ordered by PT Apexindo Pratama Duta Tbk in addition to a substantial holding in Smedvig ASA and Mosvold Drilling Ltd.