Seadrill Limited

April 29, 2011 02:49 ET

SDRL - Buyback of Shares

HAMILTON, NORWAY--(Marketwire - Apr 29, 2011) - Seadrill has through market purchases executed April 28, bought back 300,000 of the Company's own common stocks at an average price of NOK185.41 per share.

The strategy behind the repurchase is to reduce the total outstanding number of shares after the recently announced notification of Call Option as informed in the press release April 7, 2011, and subsequent anticipated conversion of the US$749.5 million 2012 Convertible debt into equity.

After the purchase, Seadrill has increased its holding of treasury shares from to 898,687 shares to 1,196,687.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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