Following the decision by the Oslo Stock Exchange Appeal Committee on February 20, 2007, Seadrill Limited has been notified by the Oslo Stock Exchange about possible fines of approximately NOK 2 million per day in case of failure to present a mandatory offer to all shareholders in Eastern Drilling ASA.
Seadrill is reviewing all its options. In any event and as previously stated, Seadrill will bring the legal issues before the courts by commencing litigation shortly.
Seadrill Limited
Hamilton, Bermuda
February 27, 2007