HAMILTON, Norway, Feb. 20, 2006 (PRIMEZONE) -- Reference is made to the press release dated 20 January 2006 regarding the mandatory offer to be set forward by SeaDrill Limited ("SeaDrill") on all outstanding class A and B shares in Smedvig ASA ("Smedvig") not already owned by SeaDrill (the "Mandatory Offer").
The Mandatory Offer is subject to an offer document being approved by the Oslo Stock Exchange. SeaDrill has submitted a mandatory offer document to the Oslo Stock Exchange but the approval process has not yet been completed. The mandatory offer is expected commence without delay after the final approval of the documentation.