SOURCE: Seadrill Limited

November 13, 2008 03:29 ET

SDRL -TRS agreements

HAMILTON, BERMUDA--(Marketwire - November 13, 2008) -


Seadrill has agreed an early termination of the total return swap agreements with Carnegie Investment Bank AB Norway Branch with 4,500,000 shares in Seadrill Limited as underlying security. The swaps originally had December 19, 2008 as maturity date. Simultaneously, Seadrill entered into a total return swap agreement with DnBNor Markets with 4,500,000 shares in Seadrill Limited as underlying security. The agreed initial reference price under the swap agreement is NOK56.7 per share with expiry on February 12, 2008. Seadrill also has a current holding of own treasury shares of 717,800 shares.

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act).

Seadrill Limited
Hamilton, Bermuda
November 13, 2008

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.



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Contact Information

  • Contact:
    Jim Daatland
    VP Investor Relations
    Seadrill Management AS
    +47 51 30 99 19