Nyheter for Seawell Ltd.

Fjerning av aksje: Seawell Ltd. (SEAW)

Corporate actions

2010-11-25 16:35:56

Seawell Ltd. (ISIN:BMG795601019, ticker SEAW) er fjernet fra handelsstøttesystemet

SEAW - Seawell Ltd. - removal from the NOTC-list due to listing on Oslo Børs

Company news

2010-11-25 14:40:55

This announcement is published by The Norwegian Securities Dealers Association.

With reference to the news posted by Seawell Ltd. in the NOTC-system eaerlier today (at 14:00), the company will be listed on Oslo Børs and have its first trading day tomorrow, Friday, November 26th and will therefore be removed from the NOTC-system after the end of todays trading day.

SEAW - Approved for Listing on the Oslo Børs

Company news

2010-11-25 14:00:05

Hamilton, Bermuda (November 25, 2010)

Reference is made to news release of September 23, 2010 where Seawell Limited
informed about the intent to apply for listing of its shares on the Oslo Stock
Exchange.

The Board of Oslo Børs (Oslo Stock Exchange) resolved in its meeting on November
24, 2010 to admit shares in Seawell Limited for listing on Oslo Børs.

The Financial Supervisory Authority of Norway has today approved the listing
prospectus.

The prospectus will be available atwww.seawellcorp.com  and
www.platoumarkets.com.

The prospectus can also be obtained from:

Seawell Management AS

Løkkeveien 107

P.O. Box 332

4002 Stavanger

Norway

Telephone: +47 51 30 80 00

Fax: +47 51 30 80 01



RS Platou Markets AS

Haakon VII's gate 10

P.O. Box 1474 Vika

N-0116 Oslo

Norway

Telephone: +47 22 01 63 00

Telefax: +47 22 01 63 10

The Company will have its first trading day, tomorrow, Friday November 26, 2010.

The Company has retained RS Platou Markets AS as manager (the "Manager") and
Wiersholm, Mellbye & Bech, advokatfirma AS as legal adviser in connection with
the listing process

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



[HUG#1465619]








This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.

Source: Seawell via Thomson Reuters ONE

SEAW: Seawell Limited reports changes in the Board of Directors

Company news

2010-11-02 10:50:03

Hamilton, Bermuda (November 2, 2010)

Mr. Alf C. Thorkildsen, CEO of Seadrill Management AS, has, effective yesterday,
resigned from the board of Seawell Limited. The board has, as his substitute,
appointed Mr. Fredrik Halvorsen to the board. Mr. Halvorsen's election will be
put to Seawell Limited's shareholders in the next general meeting of the company
for confirmation.

Mr. Halvorsen has previously worked for Tandberg ASA and McKinsey & Co. in
Southeast Asia. Mr. Halvorsen is currently employed by Frontline Corporate
Services Ltd.

Alf C. Thorkildsen will continue to be available to the Company in a function as
an alternate director. Mr. Thorkildsen is the CEO of Seadrill Management AS.


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







[HUG#1457952]








This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.

Source: Seawell via Thomson Reuters ONE

SEAW - Seawell Limited has filed application for listing on OSE

Company news

2010-10-28 10:10:03

Hamilton, Bermuda (October 28, 2010)

Reference is made to the news release of 23 September 2010 where Seawell
informed about the intent to apply for listing of its shares on Oslo Børs and
 pursue approval at the meeting of the Oslo Børs Board of Directors November
24. If approved, the Company's shares would begin trading on the Oslo Børs
shortly thereafter. The application for listing was filed yesterday.

The Company has retained RS Platou Markets AS as manager (the "Manager") and
Wiersholm, Mellbye & Bech, advokatfirma AS as legal adviser in connection with
the listing process. The Manager has engaged Advokatfirmaet Schjødt DA and Ernst
& Young as advisers.

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


[HUG#1456453]








This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.

Source: Seawell via Thomson Reuters ONE

SEAW - Seawell - Wireline contract awards

Company news

2010-10-18 12:09:00

Hamilton, Bermuda (October 18, 2010)

Seawell is pleased to inform the succesful award of two new wireline contracts after tendering processes and in direct continuation of existing long term client relationships. AS Norske Shell has awarded Seawell a contract for mechanical and electrical wireline cased hole services with a duration until 31.1.2012, plus optional 2 x 12 months extensions. Mærsk Olie og Gas AS has awarded Seawell a contract for all mechanical wireline work on the Danish Continental Shelf with a contract duration of three years, plus optional 3x12 months extensions. The annual combined contract value is estimated to NOK50 million.

SEAW - Minutes from the Annual General Meeting 2010

Company news

2010-09-27 09:10:11

Seawell Limited (the "Company") advises that the 2010 Annual General Meeting of the Company was held on September 24, 2010 at 11:50 a.m. at the Elbow Beach Hotel, 60 South Shore Road, Paget PG04, Bermuda. The following resolutions were passed:

1) To set the maximum number of Directors to be not more than nine.

2) That vacancies in the number of Directors be designated casual vacancies and that the Board of Directors be authorized to fill such casual vacancies as and when it deems fit.

3) To re-elect Jorgen Rasmussen as a Director of the Company.

4) To re-elect Tor Olav Trøim as a Director of the Company.

5) To re-elect Kate Blankenship as a Director of the Company.

6) To re-elect Cecilie Fredriksen as a Director of the Company.

7) To re-elect Alf C. Thorkildsen as a Director of the Company.

8) To re-elect Alf Ragnar Løvdal as a Director of the Company.

9) That the Company's authorized share capital be increased from US$600,000,000.00 divided into 300,000,000 common shares of $2.00 par value each to US$1,200,000,000.00 divided into 600,000,000 common shares of $2.00 par value each by the creation of 300,000,000 common shares of $2.00 par value each.

10) To re-appoint PricewaterhouseCoopers AS, as auditor and to authorize the Directors to determine their remuneration.

11) That the remuneration payable to the Company's Board of Directors of a total amount of fees not to exceed €400,000 be approved for the year ended December 31, 2010.

In addition, the audited consolidated financial statements for the Company for the year ended December 31, 2009 were presented to the Meeting.



Hamilton, Bermuda
September 24, 2010

SEAW - Confirms Intention to Pursue Listing on the Oslo Børs

Company news

2010-09-23 16:42:05

Hamilton, Bermuda (September 23, 2010)

The Board of Directors of Seawell Limited has today approved the filing and pursuit of an application by the Company with the Oslo Stock Exchange for a listing of its shares on the Oslo Børs. The Company intends to file its application in the second half of October and pursue its approval at the meeting of the Oslo Børs Board of Directors November 24. If approved, the Company's shares would begin trading on the Oslo Børs shortly thereafter.

The Company has retained RS Platou Markets AS as manager (the "Manager") and Wiersholm, Mellbye & Bech, advokatfirma AS as legal adviser in connection with the listing process. The Manager has engaged Advokatfirmaet Schjødt DA and Ernst & Young as advisers.

SEAW - Rig Inspection Services acquisition

Company news

2010-09-13 14:13:31

Hamilton, Bermuda (September 13, 2010)

Reference is made to the news release of August 6, 2010, regarding the signing of a Sales & Purchase Agreement for the purchase of 100% of the shares in Rig Inspection Services. Seawell Limited is pleased to announce that the acquisition is successfully completed.

NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS

Company news

2010-09-08 13:10:39

SEAWELL LIMITED
NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS
SEPTEMBER 24, 2010

NOTICE IS HEREBY given that the Annual General Meeting of the Shareholders of Seawell Limited (the "Company") will be held on September 24, 2010 at 11:50 a.m., at the Elbow Beach Hotel, 60 South Shore Road, Paget PG04, Bermuda for the following purposes, all of which are more completely set forth in the accompanying information statement:

To receive and adopt the financial statements of the Company for the period ended December 31, 2009.

To consider the following Company proposals:

1. To set the maximum number of Directors to be not more than nine.

2. To resolve that vacancies in the number of Directors be designated casual vacancies and that the Board of Directors be authorized to fill such casual vacancies as and when it deems fit.

3. To re-elect Jorgen Rasmussen as a Director of the Company.

4. To re-elect Tor Olav Trøim as a Director of the Company.

5. To re-elect Kate Blankenship as a Director of the Company.

6. To re-elect Cecilie Fredriksen as a Director of the Company.

7. To re-elect Alf C. Thorkildsen as a Director of the Company.

8. To re-elect Alf Ragnar Løvdal as a Director of the Company.

9. To approve the increase of the Company's authorised share capital from US$600,000,000.00 divided into 300,000,000 common shares of $2.00 par value each to US$1,200,000,000.00 divided into 600,000,000 common shares by the creation of 300,000,000 common shares of US$2.00 par value each.

10. To re-appoint PricewaterhouseCoopers AS, as auditor and to authorize the Directors to determine their remuneration.

11. To approve the remuneration of the Company's Board of Directors of a total amount of fees not to exceed €400,000 for the year ended December 31, 2010.

By Order of the Board of Directors

Georgina Sousa
Secretary

Dated: July 28, 2010.

Notes:

1. The Board of Directors has fixed the close of business on July 20, 2010, as the record date for the determination of the shareholders entitled to attend and vote at the Annual General Meeting or any adjournment thereof.

2. No Shareholder shall be entitled to attend unless written notice of the intention to attend and vote in person or by proxy, together with the power of attorney or other authority (if any) under which it is signed, or a notarially-certified copy of that power of attorney, is sent to the Company Secretary, to reach the Registered Office by not later than 48 hours before the time for holding the meeting.

3. A Form of Proxy is enclosed for use in connection with the business set out above.

4. Each of the resolutions set out above is an Ordinary Resolution, approval of which will require the affirmative vote of a majority of the votes cast.


INFORMATION CONCERNING SOLICITATION AND VOTING FOR THE ANNUAL GENERAL MEETING OF SHAREHOLDERS (THE "MEETING") OF SEAWELL LIMITED TO BE HELD ON SEPTEMBER 24, 2010.


PRESENTATION OF FINANCIAL STATEMENTS

In accordance with Section 84 of the Companies Act 1981 of Bermuda, the audited consolidated financial statements of the Company for the period ended December 31, 2009 will be presented at the Meeting. These statements have been approved by the Directors of the Company. There is no requirement under Bermuda law that such statements be approved by the shareholders, and no such approval will be sought at the Meeting.

The Company's audited consolidated financial statements are available on its website at www.seawellcorp.com.



COMPANY PROPOSALS

PROPOSALS 1 and 2 - INCREASE IN THE MAXIMUM NUMBER OF DIRECTORS AND VACANCIES IN THE NUMBER OF DIRECTORS

The current maximum number of directors is eight. In accordance with the provisions of Bye-law 87., it is proposed to increase this to a maximum of nine. It is further proposed, in accordance with Bye-law 87., that vacancies in the number of directors be designated casual vacancies and that the Board of Directors be authorised to fill such casual vacancies as and when it deems fit. Any director appointed to fill such a casual vacancy shall hold office until the next Annual General Meeting following his or her election or until his or her successor is elected.

At the Meeting, the Board will ask the Shareholders to approve setting the maximum number of directors to be not more than nine in order to permit the future appointment of additional Directors at the discretion of the Board.


PROPOSALS 3, 4, 5, 6, 7 AND 8 - ELECTION OF DIRECTORS

The Board has nominated the six persons listed below for selection as Directors of the Company. All nominees are presently members of the Board of Directors. As provided in the Company's Bye-laws, each Director is elected at each Annual General Meeting of Shareholders and shall hold office until the next Annual General Meeting following his or her election or until his or her successor is elected.


Nominees For Election To The Company's Board Of Directors

Information concerning the nominees for Directors of the Company is set forth below:

Name Age Director Since Position with the Company

Jorgen Rasmussen 51 2007 Director and Chairman

Tor Olav Trøim 47 2007 Director and Deputy Chairman

Kate Blankenship 45 2007 Director

Cecilie Fredriksen 26 2008 Director

Alf C. Thorkildsen 54 2009 Director

Alf Ragnar Løvdal 53 2009 Director


Jorgen Rasmussen has served as Chairman and a Director of the Company since its incorporation in August 2007. Prior to this, Mr. Rasmussen was employed by Schlumberger Limited ("Schlumberger") for 25 years. From 1998 to 2001 he was general manager of Schlumberger's Scandinavian office; from 2001 to 2003 he was president and CEO of Schlumberger Smart Cards; from 2003 to 2005 he was CEO of Atos Origin Northern Europe and from 2005 to 2008 he was Vice-President of WesternGeco. Mr. Rasmussen has worked for Schlumberger in Europe, Africa, Asia, Australia, Russia and the United States. He has held various board positions in industry associations and oilfield companies and holds a M.Sc. in Geology and Geophysics from the University of Aarhus, Denmark.

Tor Olav Trøim has served as Deputy Chairman and a Director of the Company since its incorporation in August 2007. He was Vice-President and a director of Frontline Ltd., from November, 1997 to February, 2008, and has served as a consultant and alternate director to the board of Frontline Ltd., since that time. Mr. Trøim graduated as M.Sc. Naval Architect from the University of Trondheim, Norway in 1985. His experience includes Portfolio Manager Equity in Storebrand ASA (1987 - 1990) and Chief Executive Officer for the Norwegian Oil Company DNO AS (1992 - 1995). Mr. Trøim served as a director of Seatankers Management Co., Ltd., in Cyprus from 1995 until June, 2009. He has also acted as Chief Executive Officer for the public companies, Knightsbridge Tankers Limited (NASDAQ), Ship Finance International Limited (NYSE and OSE), and Golar LNG Limited (NASDAQ). Mr. Trøim is currently a director and Vice-President of Seadrill Limited (NYSE and OSE) and, in addition, is a member of the Boards of the public companies, Golden Ocean Group Limited (OSE and SGX), and Aktiv Kapital ASA (OSE).

Kate Blankenship has been a Director of the Company since its incorporation in August 2007. Mrs. Blankenship is also a director of Frontline Ltd, Golar LNG Limited, Ship Finance International limited, Golden Ocean Group Limited and Seadrill Limited. Mrs. Blankenship is a member of the Institute of Chartered Accountants of England and Wales.

Cecilie Astrup Fredriksen has served as a director of the Company since September, 2008. Ms. Fredriksen is the daughter of Mr John Fredriksen Ms. Fredriksen serves as a director on several boards including Aktiv Kapital ASA, Golden Ocean Group Limited and Ship Finance International Limited. Ms. Fredriksen received a BA in Business and Spanish from the London Metropolitan University in 2006.

Alf C. Thorkildsen has been a Director of the Company since 2009 and is the CEO and President of Seadrill Management AS. From 2002 to 2006, Mr. Thorkildsen held the position of CFO in the offshore drilling contractor Smedvig, which Seadrill acquired in early 2006. Prior to joining Smedvig he worked for more than 20 years with Shell in various senior positions, the last as Treasurer and Controller of the Global EP business. Mr. Thorkildsen has a degree in economics from the Norwegian School of Business Administration and a Master of Business Administration from Arizona State University in 1980. Mr. Thorkildsen is a Norwegian citizen and resides in Stavanger, Norway.

Alf Ragnar Løvdal has been a Director of the Company since 2009 and is Senior Vice-President, Tender Rigs of Seadrill Management AS. He was previously CEO in Seawell Management AS. Mr. Løvdal has had close to 30 years experience in the oil and gas industry, for 20 years of which he was responsible for the well services business of the drilling contractor Smedvig, which Seadrill acquired in early 2006. Mr. Løvdal has held several senior positions with Smedvig, including that of general manager operations for the mobile units. Prior to his employment with Smedvig, Mr. Løvdal held various positions with different oil service companies, including five years of offshore field experience with Schlumberger. He has a degree in mechanical engineering from Horten Engineering Academy in Norway. Mr. Løvdal is a Norwegian citizen and resides in Singapore.

PROPOSAL 9 - TO APPROVE THE INCREASE IN THE COMPANY'S AUTHORISE SHARE CAPITAL

At the Meeting, the Board will ask the Shareholders to approve the increase in the Company's authorized share capital from USD600,000,000.00 divided into 300,000,000 common shares of USD2.00 par value each to USD1,200,000,000.00 divided into 600,000,000 common shares by the creation of 300,000,000 common shares of USD2.00 par value each. The increased authorized share capital is expected to be used for general corporate purposes.

PROPOSAL 10 - RE-APPOINTMENT OF INDEPENDENT AUDITORS

At the Meeting, the Board will ask the shareholders to approve the re-appointment of PricewaterhouseCoopers AS, as the Company's independent auditors and to authorise the Board of Directors to determine the auditors' remuneration.

Audit services provided by PricewaterhouseCoopers AS include the examination of the consolidated financial statements of the Company and its subsidiaries.


PROPOSAL 11 - TO APPROVE DIRECTORS' FEES

At the Meeting, the Board will ask that shareholders to approve the remuneration of the Company's Board of Directors of a total amount of fees not to exceed €400,000 for the year ended December 31, 2010.

OTHER BUSINESS

Management knows of no business that will be presented for consideration at the Annual General Meeting other than that stated in the Notice of Annual General Meeting.

By Order of the Board of Directors

Georgina Sousa
Secretary

July 28, 2010
Hamilton, Bermuda

Seawell Limited (the "Company")
Form of Proxy for use at Annual General Meeting to be held on September 24, 2010.

I/We ...............................................................................................................................................................
(NAME IN BLOCK CAPITALS)

Of ..................................................................................................................................................................

being (a) holder(s) of ....................................... Ordinary Shares of $2.00 each of the above-named
Company on the record date of July 20, 2010, hereby appoint the duly appointed Chairman of the meeting or .................................................................... to act as my/our proxy at the Annual General Meeting of the Company to be held on September 24, 2010, or at any adjournment thereof, and to vote on my/our behalf as directed below.

Please indicate with an X in the spaces provided how you wish your vote(s) to be cast on a poll. Should this card be returned duly signed, but without a specific direction, the proxy will vote or abstain at his discretion.

Proposals For Against Abstain
1. To set the maximum number of Directors to be not more than nine.
2. To resolve that vacancies in the number of Directors be designated casual vacancies and that the Board of Directors be authorized to fill such casual vacancies as and when it deems fit.

3. To re-elect Jorgen Rasmussen as a Director of the Company.
4. To re-elect Tor Olav Trøim as a Director of the Company.
5. To re-elect Kate Blankenship as a Director of the Company.
6. To re-elect Cecilie Fredriksen as a Director of the Company.
7. To re-elect Alf C. Thorkildsen as a Director of the Company.
8. To re-elect Alf Ragnar Løvdal as a Director of the Company.

9. To approve the increase of the Company's authorized share capital from USD600,000,000.00 divided into 300,000,000 common shares of USD2.00 par value each to USD1,200,000,000.00 divided into 600,000,000 common shares by the creation of 300,000,000 common shares of USD2.00 par value each.
10. To re-appoint PricewaterhouseCoopers AS as auditor and to authorize the Directors to determine their remuneration.
11. To approve the remuneration of the Company's Board of Directors of a total amount of fees not to exceed €400,000 for the year ended December 31, 2010.




Date ...................................... Signature ......................................................

Notes:
1. A Shareholder entitled to attend and vote at a meeting may appoint one or more proxies to attend and, on a poll, vote instead of him.
2. Proxies appointed by a single Shareholder need not all exercise their vote in the same manner.
3. In the case of joint holders, the vote of the senior who tenders a vote, whether in person or by proxy, will be accepted to the exclusion of the votes of the other joint holders. For this purpose, seniority is determined by the order in which the names stand in the Register of Members.
4. In the case of a corporation, this proxy must be given under its common seal or be signed on its behalf by a duly authorized officer or attorney.
5. If it is desired to appoint by proxy any person other than the Chairman of the Meeting, his/her name should be inserted in the relevant place, reference to the Chairman deleted and the alteration initialled.
6. This proxy should be completed and sent to the following address by not later than 48 hours before the time for holding the meeting:

Nordea Bank Norge ASA
Issuer Services
PO Box 1166 Sentrum
0107 Oslo, Norway
Fax: +47 22 48 49 90/ +47 22 48 63 49

Endring av aksje: Seawell Ltd. (SEAW)

Corporate actions

2010-08-23 09:46:44

Det er foretatt endringer i Seawell Ltd. (ISIN:BMG795601019, ticker SEAW). Aksjebeholdningen er øket fra 110 000 050 til 225 400 050. Emisjonsverdien er øket fra 2 145 000 975 til 5 184 201 150.

SEAW - Share issue completed

Company news

2010-08-17 09:15:59

SEAW - Share issue completed.

SEAW: Book covered

Company news

2010-08-16 16:02:48

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR TO U.S. NEWS WIRE SERVICES OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.


SEAW: BOOK COVERED

OSLO, 16 August 2010

Reference is made to the announcement of the USD 430 million Private Placement by Seawell Limited ("Seawell" or the "Company") on 16 August 2010.

The company is pleased to announce that the book is fully covered. The book will close tonight (16 August 2010) at 22:00 CET.

RS Platou Markets AS, Carnegie ASA and Pareto Securities AS are acting as Joint lead managers and bookrunners. Danske Markets, DnB NOR Markets and Nordea Markets are acting as co-managers.






***

Important Notice

The Private Placement and this announcement and other information in connection with the Private Placement may be restricted by law in certain jurisdictions. Seawell assumes no responsibility in the event there is a violation by any person of such restrictions. Persons in whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions. This announcement is not for distribution, directly or indirectly, in or into any jurisdiction in which it is unlawful to make any such offer or solicitation to such person or where prior registration or approval is required for that purpose.

This document is not an offer to sell, or the solicitation of an offer to buy or subscribe for securities in the United States, Australia, Canada, Japan or in any jurisdiction in which such offer, solicitation or sale is unlawful. Securities may not be offered or sold in the United States absent registration under the US Securities Act of 1933 (the “Securities Act”) or an exemption from, or in a transaction not subject to, registration. Subject to certain exceptions, the securities referred to herein may not be offered or sold in Australia, Canada or Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada or Japan. The offer and sale of the securities referred to herein has not been and will not be registered under the Securities Act or under the applicable securities laws of Australia, Canada or Japan. The new shares to be offered may not be offered or sold within the United States, except to qualified institutional buyers ("QIB"), as defined in Rule 144A under the U.S. Securities Act ("Rule 144A"), through affiliates of the Managers, in reliance upon the exemption from the registration requirements provided by section 4(2) of the U.S. Securities Act Rule 144A, and to certain non-U.S. persons in offshore transactions in reliance on Regulation S under the U.S. Securities Act. The shares to be offered will be subject to certain restrictions on transfer.

This document is only addressed to and is only directed at persons in member states of the European Economic Area (the “EEA”) who are “qualified investors” within the meaning of Article 2.1(e) of the Prospectus Directive (Directive 2003/71/EC). In addition, in the United Kingdom, these materials are directed solely at persons who (i) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (ii) are persons falling within Article 49(2)(a) to (d) of the Order and other persons to whom it may lawfully be communicated (all such persons together being referred to as “relevant persons”). These materials are addressed only to, and directed only at, relevant persons and qualified investors and must not be acted on or relied on (i) in the United Kingdom, by persons who are not relevant persons or (ii) in any member state of the EEA other than the United Kingdom, by qualified investors. Any investment or investment activity to which these materials relate is available only to, and will be engaged in only with, in the United Kingdom, relevant persons, and in any member state of the EEA other than the United Kingdom, qualified investors.
* * *


For further information, please contact:

Jorgen Rasmussen, Executive Chairman Seawell Ltd., +47 51 30 80 00
Thorleif Egeli, CEO Seawell Management AS, +47 51 30 80 00
Lars Bethuelsen, CFO Seawell Management AS, +47 51 30 80 00

SOURCE Seawell Limited
http://www.seawellcorp.com

SEAW: Book covered

Company news

2010-08-16 16:01:49

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR TO U.S. NEWS WIRE SERVICES OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.


SEAW: BOOK COVERED

OSLO, 16 August 2010

Reference is made to the announcement of the USD 430 million Private Placement by Seawell Limited ("Seawell" or the "Company") on 16 August 2010.

The company is pleased to announce that the book is fully covered. The book will close tonight (16 August 2010) at 22:00 CET.

RS Platou Markets AS, Carnegie ASA and Pareto Securities AS are acting as Joint lead managers and bookrunners. Danske Markets, DnB NOR Markets and Nordea Markets are acting as co-managers.






***

Important Notice

The Private Placement and this announcement and other information in connection with the Private Placement may be restricted by law in certain jurisdictions. Seawell assumes no responsibility in the event there is a violation by any person of such restrictions. Persons in whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions. This announcement is not for distribution, directly or indirectly, in or into any jurisdiction in which it is unlawful to make any such offer or solicitation to such person or where prior registration or approval is required for that purpose.

This document is not an offer to sell, or the solicitation of an offer to buy or subscribe for securities in the United States, Australia, Canada, Japan or in any jurisdiction in which such offer, solicitation or sale is unlawful. Securities may not be offered or sold in the United States absent registration under the US Securities Act of 1933 (the “Securities Act”) or an exemption from, or in a transaction not subject to, registration. Subject to certain exceptions, the securities referred to herein may not be offered or sold in Australia, Canada or Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada or Japan. The offer and sale of the securities referred to herein has not been and will not be registered under the Securities Act or under the applicable securities laws of Australia, Canada or Japan. The new shares to be offered may not be offered or sold within the United States, except to qualified institutional buyers ("QIB"), as defined in Rule 144A under the U.S. Securities Act ("Rule 144A"), through affiliates of the Managers, in reliance upon the exemption from the registration requirements provided by section 4(2) of the U.S. Securities Act Rule 144A, and to certain non-U.S. persons in offshore transactions in reliance on Regulation S under the U.S. Securities Act. The shares to be offered will be subject to certain restrictions on transfer.

This document is only addressed to and is only directed at persons in member states of the European Economic Area (the “EEA”) who are “qualified investors” within the meaning of Article 2.1(e) of the Prospectus Directive (Directive 2003/71/EC). In addition, in the United Kingdom, these materials are directed solely at persons who (i) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (ii) are persons falling within Article 49(2)(a) to (d) of the Order and other persons to whom it may lawfully be communicated (all such persons together being referred to as “relevant persons”). These materials are addressed only to, and directed only at, relevant persons and qualified investors and must not be acted on or relied on (i) in the United Kingdom, by persons who are not relevant persons or (ii) in any member state of the EEA other than the United Kingdom, by qualified investors. Any investment or investment activity to which these materials relate is available only to, and will be engaged in only with, in the United Kingdom, relevant persons, and in any member state of the EEA other than the United Kingdom, qualified investors.
* * *


For further information, please contact:

Jorgen Rasmussen, Executive Chairman Seawell Ltd., +47 51 30 80 00
Thorleif Egeli, CEO Seawell Management AS, +47 51 30 80 00
Lars Bethuelsen, CFO Seawell Management AS, +47 51 30 80 00

SOURCE Seawell Limited
http://www.seawellcorp.com

SEAW - Second quarter 2010 results

Company news

2010-08-16 08:53:19

Hamilton, Bermuda (August 16, 2010) - Seawell today announces the second quarter 2010 results.

Commenting on the results, Seawell's Executive Chairman Jørgen P Rasmussen says, ''The Board is pleased with the all time high EBITDA result in the second quarter. The operational earnings for the second half of 2010 is expected to be in line with first half, including some weakness in Q3 reflecting start-up cost in Brazil and in the Ekofisk operation. The Company has since 2003 delivered an average yearly growth in income and EBITDA of 22,5 % and 25,1 % respectively. The Board is excited by the opportunity the strong order backlog, the new technology break troughs and the global platform creates to continue this strong track record of profitable growth.''

For further information, please see the Seawell second quarter 2010 report attached.

Contact: Thorleif Egeli,
CEO Seawell Management AS, +47 51 30 80 00

Contact: Lars Bethuelsen,
CFO Seawell Management AS, +47 51 30 80 00

Seawell is a rapidly growing global oilfield service company providing drilling and well services, including platform drilling, platform facility engineering, modular rigs, well intervention and oilfield technology. The company employs approximately 3,200 skilled and experienced persons.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, OR JAPAN.

SEAW: Contemplated share issue

Company news

2010-08-16 08:30:12

SEAW - Investor Call Presentation

Company news

2010-08-13 13:56:38

Web cast /Conference Call

Seawell and Allis-Chalmers have scheduled a joint web cast/conference call today to discuss the merger. The call will begin at 8:00 a.m. Eastern time and 2:00 p.m. Central European time, on August 13, 2010.

To listen to the presentation, the following options are available:

A:Web cast

In order to listen to the presentation on web, you need to have installed windows media player and a sound card on your computer. Click here to register.

B: Conference call

To access the call, which is open to the public, please contact the conference call operator at the Participant Telephone Numbers listed below. Please call in 20 minutes prior to the scheduled start time, and ask for the "Seawell and Allis-Chalmers Conference Call."

UK Toll +44 (0)20 7138 0826

UK Toll Free 0800 032 4094

US Toll +1 212 444 0481

US Toll Free 1866 239 0753

Norway Toll +47 2415 9756

Norway Toll Free 800 19639

Participants will have to quote the Confirmation Code 9583341 when dialing in to the conference.

A replay will be available through, September 15, 2010. Please use the Soundbyte Replay Access Numbers listed below:

Soundbyte Replay Access Number:

UK Toll +44 (0)20 7111 1244

US Toll +1 347 366 9565

Norway Toll +47 2100 0498

Participants will have to quote the Confirmation Code 9583341 and press # when dialing in to the conference.

SEAW - Seawell to Acquire Allis-Chalmers Energy in USD 890 Million Transaction

Company news

2010-08-13 01:15:51

The acquisition combines Seawell's leading Drilling and Well Services business with Allis-Chalmers' Drilling, Rental and Oilfield Service offerings to create a global oilfield service company with operations in 30+ countries.

The combination spurs international growth through operational synergies and combined offerings, enabling 6,500 employees to serve the world's leading E&P companies in the Americas, Europe, Africa, the Middle East and Southeast Asia.

HAMILTON, BERMUDA & HOUSTON, TEXAS (August 12, 2010): Seawell Limited (NOTC: SEAW) and Allis-Chalmers Energy Inc. (NYSE: ALY) today announced that their Boards of Directors have unanimously approved a definitive merger agreement providing for the acquisition of Allis-Chalmers by Seawell in a transaction valued at approximately USD 890 million (including assumed debt).

The combined company will have approximately 6,500 employees and is projected by equity research analysts to have an estimated revenues of USD 1.3 billion and a contribution to capital or EBITDA of USD 195 million in 2010. The combined company will operate its Drilling and Well Services offerings with a global footprint covering more than 30 of the world's key oil and gas regions including the US, Gulf of Mexico, Brazil, Argentina, North Sea, Middle East, Africa and Southeast Asia / Pacific.

The combined Drilling Services offering will include platform drilling, land contract drilling, modular rigs, maintenance of drilling systems, directional drilling technology, underbalanced drilling, facility engineering services, rig and riser inspections, and oilfield rentals. The company will be able to provide its customers with fully integrated drilling services, both onshore and offshore, with more than 4,000 experienced drilling crew members and senior directional drillers. The Well Services offering will include electric and mechanical wireline services, production logging services, coil tubing services, ultrasonic investigation logging services, down-hole cameras, and advanced well fishing services. The combined company has a long track record of safe and efficient operations in the North Sea, USA and South America.

Seawell's Executive Chairman, Jorgen Peter Rasmussen, said: "We are very pleased to welcome Allis-Chalmers' employees and management to Seawell. This is a major step in our quest to create a global first-class drilling and well services company focused on assisting our customers in producing more hydrocarbons from their existing fields. We complement each other with a much improved geographical footprint, similar focus on customers and a wider range of technology and services, which we are now able to offer to our combined customer base. We intend to build a unique and leading company in the oilfield service sector."

Mr. Rasmussen foresees that "the merger will allow the combined company to grow the business and profitability faster than each of the companies on their own. We invite all Allis-Chalmers stakeholders to join the new combined company and participate in an exciting future as the new company will have the ambition to become one of the largest independent well services companies."

Under the agreement, Allis-Chalmers stockholders will have the right to elect USD 4.25 in cash or 1.15 Seawell common shares for each share of Allis-Chalmers common stock, subject to proration if more than 35% of the shares elect to receive cash. Shares of Allis-Chalmers' existing preferred stock will be treated as common stock on an as converted basis. Based on the closing price of the Seawell common shares on the NOTC on August 12, 2010, the implied acquisition price represents a 28% premium to Allis-Chalmers' six month average stock price and a 77% premium over today's closing price. The merger is conditioned, among other things, on the listing of Seawell on the Oslo Bors or the London Stock Exchange and Seawell raising no less than an additional USD 100 million in equity. The transaction is intended to be tax-free to stockholders of both companies for U.S. federal income tax purposes and will be accounted for as a purchase.

Upon completion of the merger, Jørgen Peter Rasmussen (51) will be the combined company's new Chief Executive Officer and President, and a member of the Board of Directors. The new company's Chief Operating Officer and Executive Vice President will be Thorleif Egeli (46) who is currently the Chief Executive Officer of Seawell Management AS.

Allis-Chalmers' Chairman and Chief Executive Officer Munawar ("Micki") H. Hidayatallah said: "We are excited by the prospects of the combination of these two companies and strongly believe that we will greatly accelerate the execution of Allis-Chalmers' strategic objectives to access and develop new technologies, increase the products and services we offer our customers and expand our global footprint."

The non-executive Chairman of Seawell Limited will be Saad Bargach of Lime Rock Partners and Tor Olav Trøim will continue as Vice-Chairman. Among the other Board members will be Alejandro Bulgheroni, Cecilie Fredriksen, Giovanni Dell' Orto, and John Reynolds of Lime Rock Partners. Hidayatallah will serve as a senior advisor to the new Board.

Lime Rock Partners V, L.P. (Lime Rock) has entered into an agreement with Seawell pursuant to which Lime Rock has, among other things, agreed that if it votes in favor of the merger, it will elect to receive Seawell common shares in respect of the Allis-Chalmers preferred and common stock that it holds. Pursuant to this agreement, Lime Rock has also agreed to vote its Allis-Chalmers shares against any alternative transaction for a period of nine months following any termination of the merger agreement.

Saad Bargach, Managing Director of Lime Rock Partners and proposed Chairman of the merged company, said, "Lime Rock is exceptionally enthusiastic about the merger between two great companies like Allis-Chalmers and Seawell. We believe that the combined company's global presence, onshore and offshore expertise, differentiated technology, and exceptional management team will result in an even more effective competitor in the international oilfield service sector."

The merger is subject to the approval of Allis-Chalmers' stockholders as well as HSR approval, and other customary conditions. The companies anticipate that the transaction could close as soon as the end of the calendar year. Seawell and Allis-Chalmers intend to file a proxy statement / prospectus with the U.S. Securities and Exchange Commission as soon as possible.

Alpha Corporate Finance and Goldman Sachs International are acting as Seawell's financial advisors. Seawell's legal advisors are Skadden, Arps, Slate, Meagher & Flom LLP, and Wiersholm, Mellbye & Bech, advokatfirma AS. Andrews Kurth LLP and Thommessen are legal advisors for Allis-Chalmers. RBC Capital Markets Corporation is acting as Allis-Chalmers' financial advisor and rendered a fairness opinion to its Board of Directors.

Web cast /Conference Call

Seawell and Allis-Chalmers have scheduled a joint web cast/conference call today to discuss the merger. The call will begin at 8:00 a.m. Eastern time and 2:00 p.m. Central European time, on August 13, 2010.

To listen to the presentation, the following options are available:

A:Web cast

In order to listen to the presentation on web, you need to have installed windows media player and a sound card on your computer.

B: Conference call

To access the call, which is open to the public, please contact the conference call operator at the Participant Telephone Numbers listed below. Please call in 20 minutes prior to the scheduled start time, and ask for the "Seawell and Allis-Chalmers Conference Call."

UK Toll +44 (0)20 7138 0826
UK Toll Free 0800 032 4094
US Toll +1 212 444 0481
US Toll Free 1866 239 0753
Norway Toll +47 2415 9756
Norway Toll Free 800 19639

Participants will have to quote the Confirmation Code 9583341 when dialing in to the conference.
A replay will be available through, September 15, 2010. Please use the Soundbyte Replay Access Numbers listed below:

Soundbyte Replay Access Number:
UK Toll +44 (0)20 7111 1244
US Toll +1 347 366 9565
Norway Toll +47 2100 0498

Participants will have to quote the Confirmation Code 9583341 and press # when dialing in to the conference.

The call and replay will also be web cast on www.seawellcorp.com and on www.alchenergy.com. Today's news release, along with other news about Seawell and Allis-Chalmers, will be available on the Internet at www.seawellcorp.com and at www.alchenergy.com.

This press release (and all oral statements made regarding the subjects of this document, including on the conference call announced herein) contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by words or phrases such as "will," "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "target," "forecast," and other words and terms of similar meaning. These forward-looking statements involve a number of risks and uncertainties. Seawell and Allis-Chalmers caution readers that any forward-looking statement is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking statement. Such forward-looking statements include, but are not limited to, statements about the benefits of the proposed merger involving Seawell and Allis-Chalmers, including future financial and operating results, Seawell's and Allis-Chalmers' plans, objectives, expectations and intentions, the expected timing of completion of the transaction, and other statements that are not historical facts. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth in Allis-Chalmers' filings with the Securities and Exchange Commission. These include risks and uncertainties relating to: the ability to obtain the requisite Allis-Chalmers stockholder approval; the risk that Allis-Chalmers or Seawell may be unable to obtain governmental and regulatory approvals required for the merger, or required governmental and regulatory approvals may delay the merger or result in the imposition of conditions that could cause the parties to abandon the merger; the risk that a condition to closing of the merger may not be satisfied; the timing to consummate the proposed merger; the risk that the businesses will not be integrated successfully; the risk that the cost savings and any other synergies from the transaction may not be fully realized or may take longer to realize than expected; disruption from the transaction making it more difficult to maintain relationships with customers, employees or suppliers; the diversion of management time on merger-related issues; general worldwide economic conditions and related uncertainties; and the effect of changes in governmental regulations. Neither Seawell nor Allis-Chalmers undertakes any obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

Additional Information And Where To Find It

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. In connection with the proposed merger between Seawell and Allis-Chalmers, Seawell will file with the SEC a Registration Statement on Form F-4 that will include a proxy statement of Allis-Chalmers that also constitutes a prospectus of Seawell. Seawell and Allis-Chalmers will mail the proxy statement/prospectus to the Allis-Chalmers stockholders. Seawell and Allis-Chalmers urge investors and stockholders to read the proxy statement / prospectus regarding the proposed merger when it becomes available, as well as other documents filed with the SEC, because they will contain important information. You may obtain copies of all documents filed with the SEC regarding this transaction, free of charge, at the SEC's website (www.sec.gov). You may also obtain these documents, free of charge, from Seawell's website (www.seawellcorp.com) under the tab "Investors." You may also obtain these documents, free of charge, from Allis-Chalmers' website (www.alchenergy.com) under the tab "For Investors" and then under the heading "SEC Filings."

Participants In The Merger Solicitation

Seawell, Allis-Chalmers, and their respective directors, executive officers and certain other members of management and employees may be soliciting proxies from Allis-Chalmers stockholders in favor of the merger and related matters. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of Allis-Chalmers stockholders in connection with the proposed merger will be set forth in the proxy statement/prospectus when it is filed with the SEC. You can find information about Allis-Chalmers' executive officers and directors in its definitive proxy statement filed with the SEC on April 30, 2010. Additional information about Seawell's executive officers and directors and Allis-Chalmers' executive officers and directors can be found in the above-referenced Registration Statement on Form F-4 when it becomes available. You can obtain free copies of these documents from Seawell and Allis-Chalmers using the contact information above.

Use of EBITDA

This press release contains references to EBITDA, a non-GAAP financial measure that complies with federal securities regulations when it is defined as net income (the most directly comparable GAAP financial measure) before interest, taxes, depreciation and amortization. We define EBITDA accordingly for the purposes of this press release. EBITDA, as used and defined in this press release, may not be comparable to similarly titled measures employed by other companies and is not a measure of performance calculated in accordance with GAAP. EBITDA should not be considered in isolation or as a substitute for operating income, net income or loss, cash flows provided by operating, investing and financing activities, or other income or cash flow statement data prepared in accordance with GAAP. However, we believe EBITDA is useful to an investor in evaluating operating performance because these measures:
* are widely used by investors in the energy industry to measure a company's operating performance without regard to the items excluded from EBITDA, which can vary substantially from company to company depending upon accounting methods and book value of assets, capital structure and the method by which assets were acquired, among other factors; and
* help investors to more meaningfully evaluate and compare the results of our operations from period to period by removing the effect of our capital structure and asset base from our operating results.
There are significant limitations to using EBITDA as a measure of performance, including the inability to analyze the effect of recurring and non-recurring items that are excluded from EBITDA and materially affect net income or loss, results of operations, and the lack of compatibility of the results of operations of different companies.

Contacts for Seawell
Jorgen Rasmussen, Executive Chairman Seawell Ltd., +47 51 30 80 00
Thorleif Egeli, CEO Seawell Management AS, +47 51 30 80 00
Lars Bethuelsen, CFO Seawell Management AS, +47 51 30 80 00
Contacts for Allis-Chalmers
Micki Hidayatallah, Chairman and CEO, Allis-Chalmers Energy Inc., +1.713.369.0550
Victor Perez, CFO, Allis-Chalmers Energy Inc., +1.713.369.0550

SOURCE Seawell Limited
http://www.seawellcorp.com
http://www.alchenergy.com

Seawell Limited signs Agreement to Purchase Rig Inspections Services' Operating Companies in Singapore & Australia

Company news

2010-08-06 00:35:39

Hamilton, Bermuda (August 5, 2010) - Seawell Limited has today signed a Sales & Purchase Agreement with the shareholders of Rig Inspection Services (RIS) for the purchase of 100% of the shares in their two operating companies for a price of NOK 30 million with a possible additional NOK 30 million based on financial performance over the next 2 years.

RIS is an inspection services company, based in Singapore and Perth (Australia) and operating on a global basis. The company has 56 employees and their "Tier One" customer base includes major oil and contracting companies such as Shell, Chevron, BHP Billiton, Transocean, Diamond Offshore, Noble and Seadrill.

RIS offers specialised industry knowledge and experience with broad inspection expertise. RIS surveyors and inspectors are on call 24/7 specifically to provide a wide range of services within the oil and gas industry, including Rig Acceptance & Safety Surveys, Rig Condition & Benchmark Surveys, Subsea & Surface Well Control Equipment Inspection and Oil Country Tubular Goods (OCTG) services.

Jørgen Peter Rasmussen, Chairman of Seawell Limited commented: "This is a strategic acquisition for Seawell and an important step in the company's global expansion and service portfolio. The addition of RIS to the Seawell group of companies compliments the Seawell drilling facility engineering capabilities and allows us to offer our clients a very broad range of inspection services on rigs, risers and drilling equipment on a global basis."

RIS and Seawell have plans for further improving the geographic base for RIS services. This includes the early establishment of RIS inspection and survey capability through the Seawell presence in Houston. This will provide improved levels of service to existing RIS clients operating in the Gulf of Mexico, and further assist the response to the expected changes in regulations, following the recent incident there.

Thorleif Egeli, CEO Seawell Management commented: "RIS will be able to capitalise on Seawell's international platform to achieve their expansion goals while the RIS geographical footprint in the Asia-Pacific region will give Seawell an established network for distribution of its services and technologies to a new client group. Furthermore, RIS will provide Seawell with access to services to complete the integrated asset management value chain, with excellent potential for front-end engineering and back-end modification & upgrade projects for our drilling facility engineering group."



Contact:
Thorleif Egeli, CEO Seawell Management AS, +47 51 30 80 00

Lars Bethuelsen, CFO Seawell Management AS, +47 51 30 80 00

SEAW - First quarter 2010 results

Company news

2010-05-27 09:02:37

Hamilton, Bermuda (May 27, 2010) - Seawell today announces the first quarter 2010 results.

Commenting on the results, Seawell's Executive Chairman Jørgen P Rasmussen says, ''Operating revenues increased 12 percent in the first quarter compared to the previous quarter due to increased activity in wireline, engineering and oiltool rentals. Preparation for increased drilling activity in the second quarter on Ekofisk and in Brazil are progressing according to plans. Profitability in the cased hole investigation services business unit and securing work for the modular rig under construction remains the main challenges and opportunity for the company. Operating margins in 2010 will be under some pressure but the company has a sound order backlog and a solid platform for further profitable growth''

For further information, please see the Seawell first quarter 2010 report attached.

Contact: Thorleif Egeli,
CEO Seawell Management AS, +47 51 30 80 00

Contact: Lars Bethuelsen,
CFO Seawell Management AS, +47 51 30 80 00

Seawell is a rapidly growing global oilfield service company providing drilling and well services, including platform drilling, platform facility engineering, modular rigs, well intervention and oilfield technology. The company employs approximately 2,600 skilled and experienced persons.

SEAW - Annual Report 2009

Company news

2010-05-07 14:26:03

Hamilton, Bermuda (May 7, 2010) - Please see attached the Seawell Limited Annual Report 2009.

SEAW - Seawell Limited and IKM Gruppen as announced today the launch of C6 Technologies, a 50/50 joint venture oilfield company offering a step-change in well intervention technology

Company news

2010-04-30 08:40:39

Hamilton, Bermuda (April 30, 2010) - Seawell Limited and IKM Gruppen as announced today the launch of C6 Technologies, a 50/50 joint venture oilfield company offering a step-change in well intervention technology.

C6 Technologies will develop and manufacture advanced well intervention technology products and integrated intervention systems based on Carbon Cable Technology. It's portfolio will include next-generation deployment systems and a range of down hole tools for integrated well intervention operations both on- and off-shore.

Viking Intervention, acquired by Seawell Norge AS is the corner stone of this new venture. The purchase price for the shares is NOK 50 mill with a possible increase of up to NOK 25 mill based on successful field testing and commercialization in 2011.

The Carbon Cable integrated intervention system has been developed by Viking Intervention in partnership with Seawell, Statoil and Innovation Norway. The system incorporates cable technology from one of the world's leading providers of carbon composites, Finnish company Exel Composites.

Jørgen Peter Rasmussen, Chairman of Seawell Limited commented: "We believe that carbon cable technology offers a real step-change compared to today's wire line steel technology. It will simplify well intervention in production wells and enable operators to perform mechanical repairs using high-power tools. It's a more environmentally friendly system, with electric motors, lower noise and lower carbon emissions. The system will also compete with down hole tractors in deviated and horizontal well applications."

Testing of the system is planned at Seawell's Stavanger base, followed by an offshore test in a North Sea well in H2 2010.

Rasmussen continued, "Seawell and IKM Group will together bring well intervention expertise, equipment manufacturing capability, global footprint and access to capital for further development and the global deployment of this technology. The world-wide market for standard wire line intervention systems is estimated at more than 4,000 units on trucks and offshore skids.

C6 Technologies will develop systems that compete with traditional equipment and offer it's new technology to global service providers. Seawell will be the first customer of C6 Technologies and plan to take delivery of commercial systems in 2011.

Thorleif Egeli, CEO of Seawell Management commented: "Seawell will benefit from the success of C6 Technologies, and will use the new intervention system to drive further global growth of our own well intervention services. As operators increase their focus on enhancing production in mature fields in the North Sea and other hydrocarbon basins, the need for well intervention and repair increases dramatically with age. Increasing recovery rates is key to the E&P industry's ability to deliver the energy needed by a growing world population. Declines rates of the magnitude of 8-10 percent will increase the demand for this technology. In Norway alone, the Ministry of Petroleum and Energy indicated that a 1 per cent increase in recoverable petroleum from the Norwegian shelf has a gross value of about 45 billion US dollars."

Jørgen Peter Rasmussen, Chairman of Seawell Limited will be the Chairman of the board of C6 Technologies. Ståle Kyllingstad, Chairman of IKM and Thorleif Egeli CEO of Seawell are among the board members.

Contact: Thorleif Egeli,
CEO Seawell Management AS, +47 51 30 80 00

Contact: Jørgen Peter Rasmussen,
Chairman Seawell Limited, +47 51 30 80 00

Seawell is a rapidly growing global oilfield service company providing drilling and well services, including platform drilling, platform facility engineering, modular rigs, well intervention and oilfield technology.
The company employs approximately 2,600 skilled and experienced persons.

SEAW - Fourth quarter and preliminary 2009 results

Company news

2010-02-26 08:58:44

Hamilton, Bermuda (February 25, 2010) - Seawell today announces the fourth quarter and preliminary 2009 results.

Commenting on the results, Seawell's Executive Chairman Jørgen P Rasmussen says, "We experienced a natural fluctuation in activity level during the fourth quarter resulting in a decrease in operating profit compared to the previous quarter. However, the board is pleased by the fact that Seawell has maintained a high double digit growth in EBITDA also in 2009. During the year we were awarded several new significant long term contracts and the order backlog is solid. Significant resources were used in 2009 to strengthen the global organization, our product development activities and not at least international sales activities. We are creating a solid platform for further growth and a good basis for building significant shareholder value."

For further information, please see the Seawell fourth quarter and preliminary 2009 report attached.

Contact: Thorleif Egeli,
CEO Seawell Management AS, +47 51 30 80 00

Contact: Lars Bethuelsen,
CFO Seawell Management AS, +47 51 30 80 00

Seawell is a rapidly growing global oilfield service company providing drilling and well services, including platform drilling, platform facility engineering, modular rigs, well intervention and oilfield technology.
The company employs approximately 2,600 skilled and experienced persons.

SEAW - Seawell secures contract extension on Gullfaks and Statfjord

Company news

2010-02-15 09:10:56

Hamilton, Bermuda (February 15, 2010) - Seawell Limited has been awarded a contract extension by Statoil Petroleum AS for platform drilling services for the six fixed platforms on the Gullfaks and Statfjord fields on the Norwegian continental shelf. The drilling and maintenance assignment has a firm duration of two years with option for an additional two years. The estimated value for the firm part of the contract is NOK1.2 billion. Commencement under the extended contract, with start-up October 2010, is in direct continuation of the present contract on Statfjord and Gullfaks.

Seawell has been working on the Statfjord A, B and C platforms since 1982 and the Gullfaks A, B and C since 2004.

Commenting on the contract, Seawell Management's Chief Executive Officer Thorleif Egeli said: "Seawell has during the last 30 years built up significant competence within platform drilling and developed a highly skilled workforce. This award confirms our strong and long-term relationship with Statoil. We are very pleased with the award and look forward to continue to provide Statoil with safe and efficient platform drilling services".

Contact: Thorleif Egeli,
CEO Seawell Management AS, +47 51 30 80 00

Contact: Lars Bethuelsen,
CFO Seawell Management AS, +47 51 30 80 00

Seawell is a rapidly growing global oilfield service company providing drilling and well services, including platform drilling, platform facility engineering, modular rigs, well intervention and oilfield technology.
The company employs approximately 2,600 skilled and experienced persons.

SEAW - ConocoPhillips awards platform drilling contract for the Greater Ekofisk Area to Seawell

Company news

2010-01-08 17:21:26

Hamilton, Bermuda (January 8, 2010) - Seawell has been awarded a contract with ConocoPhillips Scandinavia AS for platform drilling and maintenance services in the Greater Ekofisk Area. The contract has a primary term of 5 years with options to extend by consecutive periods up to a total of five years.

Seawell will proceed to take over the responsibility of the platform drilling services on the Ekofisk 2/4 K & 2/4X and Eldfisk 2/7A & 2/7B during the first half of 2010.

Seawell CEO, Thorleif Egeli, comments on the award: "We are very excited to be chosen as the vendor for platform drilling services in the Greater Ekofisk Area. Combined with the recently awarded well intervention contract, Seawell will be able to provide significant synergies in the form of cost savings and efficiencies for ConocoPhillips. We look forward to working with ConocoPhillips in a close long-term relationship."


Contact: Thorleif Egeli,
CEO Seawell Management AS, +47 51 30 80 00

Contact: Lars Bethuelsen,
CFO Seawell Management AS, +47 51 30 80 00

Seawell is a rapidly growing global oilfield service company providing drilling and well services, including platform drilling, platform facility engineering, modular rigs, well intervention and oil field technology.
The company employs approximately 2,500 skilled and experienced persons.

SEAW - Seawell secures ConocoPhillips Well Intervention contract

Company news

2009-12-07 10:19:55

Hamilton, Bermuda (December 7, 2009) - Seawell has entered into a contract with ConocoPhillips Scandinavia AS for Wireline, logging and tractor services. The contract commences January 1, 2010 and has a primary term of five years with options for two times two years.

Seawell as lead contractor together with Schlumberger and Welltec will be working in an integrated team providing complete Wireline, logging and tractor services. This integrated team will ensure optimum use of resources resulting in the most cost effective services for ConocoPhillips.

Contact:
Thorleif Egeli
CEO Seawell Management AS,
+47 51 30 80 00

Lars Bethuelsen,
CFO Seawell Management AS,
+47 51 30 80 00

Seawell is a global oilfield service company providing drilling services and well services, including platform drilling, drilling facility engineering, modular rigs, well intervention and oilfield technology. The company employs approximately 2,500 skilled and experienced people.

SEAW - Third quarter and nine months 2009 results

Company news

2009-11-06 09:14:32

Seawell today announces the third quarter and nine months 2009 results.

For further information please find the report attached.

SEAW - Seawell secures contract extension on Nelson and the Brent field

Company news

2009-09-29 15:00:52

Seawell has been awarded a two-year contract extension by Shell U.K. Limited for platform drilling and maintenance services on five platforms until May 2012.

Seawell's Vice President Drilling Services Steve Rae said: "The strength in alignment of the Seawell and Shell values and expectations is reflected in the recent achievement of all assets currently under contract with Seawell for Shell having reached a milestone of 5 years with no lost time injury. During this time there have been multiple campaigns which have had a high and consistent level of activity in Operations, maintenance and well intervention support.

Seawell has during the last 30 years built up significant competence within platform drilling services. This award confirms our strong and long term relationship with Shell and we look forward to continue our effort to provide a top team of skilled and experienced people performing safe and efficient drilling and maintenance services on all Shell's platforms in the UK".

SEAW - Minutes from the annual general meeting 2009

Company news

2009-09-28 15:24:01

Seawell Limited (the "Company") advises that the 2009 Annual General Meeting of the Company was held on September 25, 2009 at 11:30 a.m. at the Elbow Beach Hotel, 60 South Shore Road, Paget PG04, Bermuda. The following resolutions were passed:

1) To set the maximum number of Directors to be not more than eight.


2) That vacancies in the number of Directors be designated casual vacancies and that the Board of Directors be authorized to fill such casual vacancies as and when it deems fit.


3) To re-elect Jorgen Rasmussen as a Director of the Company.


4) To re-elect Tor Olav Trøim as a Director of the Company.


5) To re-elect Kate Blankenship as a Director of the Company.


6) To re-elect Cecilie Fredriksen as a Director of the Company.


7) To elect Alf C. Thorkildsen as a Director of the Company in place of Kjell E. Jacobsen who did not stand for re-election.


8) To elect Alf Ragnar Løvdal as a Director of the Company in place of Oscar Spieler who did not stand for re-election.


9) To appoint PricewaterhouseCoopers AS of Oslo, Norway as auditors and to authorise the Directors to determine their remuneration.


10) That the remuneration payable to the Company's Board of Directors of a total amount of fees not to exceed US$250,000 be approved for the year ended December 31, 2009.


In addition, the audited consolidated financial statements for the Company for the year ended December 31, 2008 were presented to the Meeting.

Hamilton, Bermuda

September 25, 2009

NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS

Company news

2009-09-10 13:39:57

SEAWELL LIMITED
NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS
SEPTEMBER 25, 2009

NOTICE IS HEREBY given that the Annual General Meeting of the Shareholders of Seawell Limited (the "Company") will be held on September 25, 2009 at 11:30 a.m., at the Elbow Beach Hotel, 60 South Shore Road, Paget PG04, Bermuda for the following purposes, all of which are more completely set forth in the accompanying information statement:

1. To receive and adopt the financial statements of the Company for the period ended December 31, 2008.

2. To set the maximum number of Directors to be not more than eight.

3. To resolve that vacancies in the number of Directors be designated casual vacancies and that the Board of Directors be authorized to fill such casual vacancies as and when it deems fit.

4. To re-elect Jorgen Rasmussen as a Director of the Company.

5. To re-elect Tor Olav Trøim as a Director of the Company.

6. To re-elect Kate Blankenship as a Director of the Company.

7. To re-elect Cecilie Fredriksen as a Director of the Company.

8. To elect Alf C. Thorkildsen as a Director of the Company in place of Kjell E. Jacobsen who is not standing for re-election.

9. To elect Alf Ragnar Løvdal as a Director of the Company in place of Oscar Spieler who is not standing for re-election.

10. To appoint PricewaterhouseCoopers AS, as auditor and to authorize the Directors to determine their remuneration.

11. To approve the remuneration of the Company's Board of Directors of a total amount of fees not to exceed US$250,000 for the year ended December 31, 2009.

12. To transact other such business as may properly come before the meeting or any adjournment thereof.


By Order of the Board of Directors

Georgina Sousa
Secretary


Dated: August 31, 2009.

Notes:

1. The Board of Directors has fixed the close of business on August 28, 2009, as the record date for the determination of the shareholders entitled to attend and vote at the Annual General Meeting or any adjournment thereof.

2. No Shareholder shall be entitled to attend unless written notice of the intention to attend and vote in person or by proxy, together with the power of attorney or other authority (if any) under which it is signed, or a notarially-certified copy of that power of attorney, is sent to the Company Secretary, to reach the Registered Office by not later than 48 hours before the time for holding the meeting.

3. A Form of Proxy is enclosed for use in connection with the business set out above.

4. Each of the resolutions set out above is an Ordinary Resolution, approval of which will require the affirmative vote of a majority of the votes cast.


INFORMATION CONCERNING SOLICITATION AND VOTING FOR THE ANNUAL GENERAL MEETING OF SHAREHOLDERS (THE "MEETING") OF SEAWELL LIMITED TO BE HELD ON SEPTEMBER 25, 2009.


PRESENTATION OF FINANCIAL STATEMENTS

In accordance with Section 84 of the Companies Act 1981 of Bermuda, the audited consolidated financial statements of the Company for the period ended December 31, 2008 will be presented at the Meeting. These statements have been approved by the Directors of the Company. There is no requirement under Bermuda law that such statements be approved by shareholders, and no such approval will be sought at the Meeting.

The Company's audited consolidated financial statements are available on its website at www.seawellcorp.com.



COMPANY PROPOSALS

PROPOSALS 1 AND 2 - INCREASE IN THE MAXIMUM NUMBER OF DIRECTORS AND VACANCIES IN THE NUMBER OF DIRECTORS

The current maximum number of directors is five. In accordance with the provisions of Bye-law 87., it is proposed to increase this to a maximum of eight. It is further proposed, in accordance with Bye-law 87., that vacancies in the number of Directors be designated casual vacancies and that the Board of Directors be authorised to fill such casual vacancies as and when it deems fit. Any Director appointed to fill such a casual vacancy shall hold office until the next Annual General Meeting following his or her election or until his or her successor is elected.

At the Meeting, the Board will ask the Shareholders to approve setting the maximum number of Directors to be not more than eight in order to permit the future appointment of additional Directors at the discretion of the Board.

PROPOSALS 3, 4, 5, 6, 7 and 8 - ELECTION OF DIRECTORS

The Board has nominated the six persons listed below for selection as Directors of the Company. Mr. Rasmussen, Mr. Trøim, Mrs. Blankenship and Ms. Fredriksen are all presently members of the Board of Directors. Mr. Oscar Spieler and Mr. Kjell E. Jacobsen, who are currently directors, are not standing for re-election and the Board has put forward Mr. Thorkildsen and Mr. Løvdal for election. As provided in the Company's Bye-laws, each Director is elected at each Annual General Meeting of Shareholders and shall hold office until the next Annual General Meeting following his election or until his successor is elected.


Nominees For Election To The Company's Board Of Directors

Information concerning the nominees for Directors of the Company is set forth below:

Name Age Director Since Position with the Company

Jorgen Rasmussen 50 2007 Director and Chairman

Tor Olav Trøim 46 2007 Director and Deputy Chairman

Kate Blankenship 44 2007 Director

Cecilie Fredriksen 25 2008 Director

Alf C. Thorkildsen 53 Director

Alf Ragnar Løvdal 52 Director


Jorgen Rasmussen has been Chairman and a Director of the Company since its incorporation in August 2007. Prior to this, Mr. Rasmussen was employed by Schlumberger Limited ("Schlumberger") for 25 years. From 1998 to 2001 he was general manager of Schlumberger's Scandinavian office; from 2001 to 2003 he was president and CEO of Schlumberger Smart Cards; from 2003 to 2005 he was CEO of Atos Origin Northern Europe and from 2005 to 2008 he was Vice-President of WesternGeco. Mr. Rasmussen has worked for Schlumberger in Europe, Africa, Asia, Australia, Russia and the United States. He has held various board positions in industry associations and oilfield companies and holds a M.Sc. in Geology and Geophysics from the University of Aarhus, Denmark.

Tor Olav Trøim has been Deputy Chairman and a Director of the Company since its incorporation in August 2007. He was Vice-President and a director of Frontline Ltd., from November, 1997 to February, 2008, and has served as a consultant and alternate director to the board of Frontline Ltd., since that time. Mr. Trøim graduated as M.Sc. Naval Architect from the University of Trondheim, Norway in 1985. His experience includes Portfolio Manager Equity in Storebrand ASA (1987 - 1990) and Chief Executive Officer for the Norwegian Oil Company DNO AS (1992 - 1995). Since 1995, Mr. Trøim has been a director of Seatankers Management Co., Ltd., in Cyprus. In this capacity, he has acted as Chief Executive Officer for the public companies, Knightsbridge Tankers Limited, Ship Finance International Limited, Golar LNG Limited (NASDAQ) and Seadrill Limited. Mr. Trøim is currently a director of the latter three companies and Vice-Chairman of the latter two companies and, in addition, is a member of the Boards of the public companies, Golden Ocean Group Limited (OSE), and Aktiv Kapital ASA (OSE).

Kate Blankenship has been a Director of the Company since its incorporation in August 2007. Mrs. Blankenship is also a director of Frontline Ltd, Golar LNG Limited, Ship Finance International limited, Golden Ocean Group Limited and Seadrill Limited. Mrs. Blankenship is a member of the Institute of Chartered Accountants of England and Wales.

Cecilie Astrup Fredriksen has served as a director of the Company since September, 2008. Ms. Fredriksen is the daughter of Mr John Fredriksen and is currency employed by Frontline Corporate Services in London and serves as a director on several boards including Aktiv Kapital ASA, Golden Ocean Group Limited and Ship Finance International Limited. Ms. Fredriksen received a BA in Business and Spanish from the London Metropolitan University in 2006.

Alf C. Thorkildsen is proposed to be appointed to the Board in place of Kjell E. Jacobsen, who is not standing for re-election. Mr. Thorkildsen is the CEO and President of Seadrill Management AS. From 2002 to 2006, Mr. Thorkildsen held the position of CFO in the offshore drilling contractor Smedvig, which Seadrill acquired in early 2006. Prior to joining Smedvig he worked for more than 20 years with Shell in various senior positions, the last as Treasurer and Controller of the Global EP business. Mr. Thorkildsen has a degree in economics from the Norwegian School of Business Administration and a Master of Business Administration from Arizona State University in 1980. Mr. Thorkildsen is a Norwegian citizen and resides in Stavanger, Norway.

Alf Ragnar Løvdal is proposed to be appointed to the Board in place of Oscar Spieler, who is not standing for re-election. Mr. Løvdal is Senior Vice-President, Tender Rigs of Seadrill Management AS. He was previously CEO in Seawell Management AS. Mr. Løvdal has had close to 30 years experience in the oil and gas industry, for 20 years of which he was responsible for the well services business of the drilling contractor Smedvig, which Seadrill acquired in early 2006. Mr. Løvdal has held several senior positions with Smedvig, including that of general manager operations for the mobile units. Prior to his employment with Smedvig, Mr. Løvdal held various positions with different oil service companies, including five years of offshore field experience with Schlumberger. He has a degree in mechanical engineering from Horten Engineering Academy in Norway. Mr. Løvdal is a Norwegian citizen and resides in Singapore.


PROPOSAL 9 - APPOINTMENT OF INDEPENDENT AUDITORS

At the Meeting, the Board will ask the shareholders to approve the appointment of PricewaterhouseCoopers AS, as the Company's independent auditors and to authorise the Board of Directors to determine the auditors' remuneration.

Audit services provided by PricewaterhouseCoopers AS include the examination of the consolidated financial statements of the Company and its subsidiaries.

PROPOSAL 10 - TO APPROVE DIRECTORS' FEES

At the Meeting, the Board will ask that shareholders to approve the remuneration of the Company's Board of Directors of a total amount of fees not to exceed US$250,000 for the year ended December 31, 2009.

OTHER BUSINESS

Management knows of no business that will be presented for consideration at the Annual General Meeting other than that stated in the Notice of Annual General Meeting. Should any additional matters come before the Annual General Meeting, it is intended that proxies in the accompanying form will be voted in accordance with the judgement of the person or persons named in the proxy.

By Order of the Board of Directors

Georgina Sousa
Secretary

August 31, 2009
Hamilton, Bermuda

Seawell Limited (the "Company")
Form of Proxy for use at Annual General Meeting to be held on September 25, 2009.

I/We ...............................................................................................................................................................
(NAME IN BLOCK CAPITALS)

Of ..................................................................................................................................................................

being (a) holder(s) of ....................................... Ordinary Shares of $2.00 each of the above-named
Company on the record date of August 28, 2009, hereby appoint the duly appointed Chairman of the meeting or .................................................................... to act as my/our proxy at the Annual General Meeting of the Company to be held on September 25, 2009, or at any adjournment thereof, and to vote on my/our behalf as directed below.

Please indicate with an X in the spaces provided how you wish your vote(s) to be cast on a poll. Should this card be returned duly signed, but without a specific direction, the proxy will vote or abstain at his discretion.

Resolutions For Against Abstain
1. To set the maximum number of Directors to be not more than eight.
2. To resolve that vacancies in the number of Directors be designated casual vacancies and that the Board of Directors be authorized to fill such casual vacancies as and when it deems fit.
3. To re-elect Jorgen Rasmussen as a Director of the Company.
4. To re-elect Tor Olav Trøim as a Director of the Company.
5. To re-elect Kate Blankenship as a Director of the Company.
6. To re-elect Cecilie Fredriksen as a Director of the Company.
7. To elect Alf C. Thorkildsen as a Director of the Company in place of Kjell E. Jacobsen who is not standing for re-election.
8. To elect Alf Ragnar Løvdal as a Director of the Company in place of Oscar Spieler who is not standing for re-election.

9. To appoint PricewaterhouseCoopers AS as auditor and to authorize the Directors to determine their remuneration.
10. To approve the remuneration of the Company's Board of Directors of a total amount of fees not to exceed US$250,000 for the year ended December 31, 2009.



11. To transact other such business as may properly come before the meeting or any adjournment thereof.

Date ...................................... Signature ......................................................

Notes:
1. A Shareholder entitled to attend and vote at a meeting may appoint one or more proxies to attend and, on a poll, vote instead of him.
2. Proxies appointed by a single Shareholder need not all exercise their vote in the same manner.
3. In the case of joint holders, the vote of the senior who tenders a vote, whether in person or by proxy, will be accepted to the exclusion of the votes of the other joint holders. For this purpose, seniority is determined by the order in which the names stand in the Register of Members.
4. In the case of a corporation, this proxy must be given under its common seal or be signed on its behalf by a duly authorized officer or attorney.
5. If it is desired to appoint by proxy any person other than the Chairman of the Meeting, his/her name should be inserted in the relevant place, reference to the Chairman deleted and the alteration initialled.
6. This proxy should be completed and sent to the following address by not later than 48 hours before the time for holding the meeting:

Nordea Bank Norge ASA
Issuer Services
PO Box 1166 Sentrum
0107 Oslo, Norway
Fax: +47 22 48 49 90/ +47 22 48 63 49

SEAW - Second quarter 2009 results

Company news

2009-08-28 09:07:13

Seawell today announces the second quarter 2009 results.

Commenting on the results, Seawell's Executive Chairman Jørgen P Rasmussen says, ''Seawell is growing and continuing to deliver results according to plan. First Half 2009 Operating Revenues increased 27 percent year on year, and first half 2009 EBITDA increased 46 percent year on year. Solid progress is seen both in Drilling Services and Well Services. We are creating a solid platform for further growth and a good basis for building significant shareholder value."

For further information please find the Second quarter 2009 report.

Contact:
Lars Bethuelsen,
CFO
Seawell Management AS
+47 51 30 80 00

Seawell is a global oilfield service company providing drilling services and well services, including platform drilling, drilling facility engineering, modular rigs, well intervention and oilfield technology. The company employs approximately 2,500 skilled and experienced people.

SEAW - Thorleif Egeli, New Chief Executive Officer

Company news

2009-08-19 08:33:48

Hamilton, Bermuda (August 20, 2009) - Seawell Limited has employed Thorleif Egeli (45) as the new Chief Executive Officer ("CEO") of it's management company. He is currently serving as Vice President, Schlumberger North America, and will assume his new role with effect from October 1, 2009.

Mr. Egeli has been in his current capacity with Schlumberger Ltd. since 2007. His professional experience includes 16 years serving in a range of position in Europe, North Africa, North and South America and Asia. He has previously held management positions as Managing Director Dowell Norge A.S., Marketing Director North Sea, Vice President in North America in Sales and Marketing and served as country manager in well services and drilling fluids.

Mr. Egeli holds a degree in mechanical engineering from the Norwegian Technical University and an MBA from Erasmus school of Management, Rotterdam. He is a Norwegian citizen.

Executive Chairman in Seawell Limited, Mr. Jorgen Peter Rasmussen says in a comment: "We are very pleased to announce that Mr. Egeli has been appointed CEO for Seawell. With his wide international experience and knowledge he will be able to take Seawell into a global oil service company. His in-depth understanding of our business and experience from the world number one oil service company Schlumberger will enable us to achieve the planned growth in drilling and well service."

Contact:
Jorgen Peter Rasmussen
Chairman of the Board
Seawell Limited
+47 51 30 80 00

SEAW - Seawell secures contract renewal on the Forties field

Company news

2009-07-01 09:21:59

Hamilton, Bermuda (July 1, 2009) - Seawell Limited has following a competitive tender been awarded a new contract by Apache North Sea Limited for Platform Drilling Services on the four fixed Forties field platforms on the UK continental shelf.

The contract commences July 1, 2009 following the expiration of the previous contract and has a firm duration of three years with options for two times one year. The contract value for the firm period is estimated at £40 million.

Commenting on the contract, Seawell's Chairman Jørgen Peter Rasmussen said, "Seawell has during the last 30 years built up significant competence within platform drilling and developed a highly skilled and valued workforce. We look forward to continue our effort to provide Apache safe and cost effective platform drilling services''.


Contact:
Lars Bethuelsen
Chief Financial Officer
Seawell Management AS
+47 51 30 80 00

Seawell is a global oilfield service company providing drilling services and well services, including platform drilling, drilling facility engineering, modular rigs, well intervention and oilfield technology. The company employs approximately 2,500 skilled and experienced people.

SEAW - Seawell appoints new Senior Vice President Well Services

Company news

2009-06-29 09:57:50

Hamilton, Bermuda (June 29, 2009). Effective September 1, 2009, Rolf Egil Haaland is appointed new Senior Vice President Well Services in Seawell Management a.s.

Well Services includes TecWel, wireline and well intervention services and Seawell Oil Tools.

Mr Haaland, who is 44 years old, has broad Norwegian and international experience. Before joining Seawell he has worked in Reslink a.s. where he presently holds the position as Managing Director. In his 18 years career he has held various positions in the well services business including several positions in Schlumberger completions and Camco Norge a.s.

Jørgen Peter Rasmussen, Chairman Seawell Limited, says in a comment, "The appointment of Rolf Egil Haaland will strengthen our international operations, and increase our ability to synergies between the various well services businesses.

Contact:
Jørgen P Rasmussen
Chairman
Seawell Limited
+47 51 30 80 00

Seawell is a global oilfield service company providing drilling services and well services, including platform drilling, drilling facility engineering, modular rigs, well intervention and oilfield technology. The company employs approximately 2,500 skilled and experienced people.

SEAW - Unsuccessful wireline contract renewal

Company news

2009-06-02 15:05:11

Hamilton, Bermuda (June 2, 2009) - Seawell was not successful in securing a renewal of its framework wireline contract with StatoilHydro for StatoilHydro operated fields on the Norwegian Continental Shelf for the next three years. StatoilHydro has informed Seawell that the main reason for this is linked to the pricing of Seawell's offer.

The present contract between Seawell and StatoilHydro will continue until the end of November 2009. The Seawell wireline operations on the Tyrihans and Morild fields for StatoilHydro will continue according to contract. Seawell will as a result of this focus on developing new business for other clients and other well services contracts, using the key personnel and equipment resources which now will be freed up.



Contact:
Jørgen P Rasmussen
Chairman
Seawell Limited
+47 51 30 80 00

Seawell is a global oilfield service company providing drilling services and well services, including platform drilling, drilling facility engineering, modular rigs, well intervention and oilfield technology. The company employs approximately 2,400 skilled and experienced people.

SEAW - First quarter 2009 results

Company news

2009-05-27 08:54:41

Hamilton, Bermuda (May 26, 2009) - Seawell today announces the first quarter 2009 results.
Commenting on the results, Seawell's Executive Chairman Jørgen P Rasmussen says, ''Seawell is growing and continuing to deliver results according to plan. First quarter Operating Revenues increased 51 percent year on year, and first quarter EBITDA increased 75 percent year on year. Solid progress is seen both in Drilling Services and Well Services. The marked take up of C-Flex smart cementing completion products has increased in the first quarter. Further, we are very pleased with the award of the five year drilling contract by StatoilHydro on the Peregrino field in Brazil. This contract is an important milestone in the development of Seawell as a global oil service company and will provide a basis for further growth of Seawell products and services in the Americas. We have created a solid platform for further growth and a good basis for building significant shareholder value."
For further information, please see the Seawell first quarter 2009 report attached.



Contact:
Lars Bethuelsen,
CFO
Seawell Management AS
+47 51 30 80 00


Seawell is a global oilfield service company providing drilling services and well services, including platform drilling, drilling facility engineering, modular rigs, well intervention and oilfield technology. The company employs approximately 2,400 skilled and experienced people.

SEAW - Seawell receives IADC rewards

Company news

2009-05-20 14:34:06

Hamilton, Bermuda (May 20, 2009) - Seawell has been recognised for their achievements in QHSE performance at the annual International Association of Drilling Contractors (IADC) awards ceremony on the 15th of May 2009, and has received the safety performance award for Platforms 2008 for their outstanding safety performance.

In addition, The Seawell Delta team was recognised for their achievements with a Merit award 2008 for their outstanding safety performance over the last four years.

The rewards were given as recognition of the continued focus from the Seawell teams for their consistent and conscientious high regard for the safety and welfare of each member of the team and for all those working alongside them.

Seawell's Chairman Jørgen Peter Rasmussen says in a comment, "When we consider the volume of work and the range of activities undertaken by the Seawell crews during the qualifying period it makes it even more rewarding to receive this prestigious award for safety performance from the IADC. This is a tremendous accolade from our peers in the industry, and recognition of the way in which we do our business."

The Seawell Board congratulates all employees with this well-earned recognition.


Contact:
Jørgen P Rasmussen,
Chairman Seawell Limited
+47 51 30 80 00


Seawell is a global oilfield service company providing drilling services and well services, including platform drilling, drilling facility engineering, modular rigs, well intervention and oilfield technology. The company employs approximately 2,400 skilled and experienced people.

SEAW - Annual Report 2008

Company news

2009-05-18 12:08:08

Hamilton, Bermuda (May 18, 2009) - Please see attached the Seawell Limited Annual Report 2008.

SEAW - Seawell Limited reports change in Executive management

Company news

2009-04-23 08:44:01

Hamilton, Bermuda (April 23, 2009) - Seawell reports today that Alf Ragnar Løvdal in the near future will resign as CEO of Seawell Management AS. Effective May 15, Mr Løvdal will assume a position in Seadrill as Senior Vice President in the Seadrill Tender Rig Division located in Singapore.

Jørgen P Rasmussen, Chairman in Seawell, will assume the position as acting Chief Executive Officer on an interim basis pending the Company's appointment of a successor CEO.

The Board of Seawell says in a comment, "We deeply regret to see Alf Ragnar Løvdal leave Seawell. The Board would like to thank him for his massive contributions over many years. He has been instrumental in the creation and development of Seawell and his high professional work standard has created a solid financial and operational platform to build further on. The Board wish Mr Løvdal the best in the future and is in no doubt that he will become a valuable leader for the tender rig division in Seadrill. In order to still draw on Mr Løvdal's large experience a solution where he will continue to be involved in Seawell at the Board level is currently under consideration."

Contact:
Jørgen P Rasmussen,
Chairman
Seawell Limited
+47 51 30 80 00


Seawell is a global oilfield service company providing drilling services and well services, including platform drilling, drilling facility engineering, modular rigs, well intervention and oilfield technology. The company employs approximately 2,400 skilled and experienced people.

SEAW - Seawell secures drilling contract in Brazil

Company news

2009-03-26 08:14:27

Hamilton, Bermuda (March 26, 2009) - Seawell has received a letter of intent to award the Drilling Management Contract for the Peregrino Field Development Project from StatoilHydro Brasil.

The drilling contract has a firm duration of four years with options for an additional two times three years each. The contract value for the firm period is estimated to US$90 million.
The preparation phase will start in April 2009, and drilling operations on the two fixed installations under construction will commence in the first quarter 2010.

Commenting on the contract, Seawell's CEO Alf Ragnar Løvdal said, "Seawell has during the last 30 years developed a highly skilled workforce with significant competence within platform drilling operations in a long-term relationship with StatoilHydro in the North Sea. We look forward to continue our efforts to provide StatoilHydro Brasil with safe and efficient drilling operations in Brazil. This contract is an important milestone in the development of Seawell as a global oil service company and will provide a basis for further growth of Seawell products and services in the Americas. ''



Contact:
Lars Bethuelsen
CFO
Seawell Management AS
+47 51 30 80 00

Seawell is a company providing drilling and well services its core business being platform drilling, drilling facility engineering, modular rig, well intervention and oilfield technologies. The company has approximately 2,500 skilled and experienced people. Seawell currently operates on nearly 50 installations in the North Sea and has offices in Stavanger, Bergen, Aberdeen, Newcastle, Houston, Esbjerg and joint ventures in Abu Dhabi and Kuala Lumpur.

SEAW - Fourth quarter and preliminary 2008 results

Company news

2009-02-27 08:27:44

Hamilton, Bermuda (February 27, 2009) - Seawell today announces the fourth quarter and preliminary 2008 results.

Commenting on the results, Seawell's Executive Chairman Jørgen P Rasmussen says, ''The Board is very pleased with the operating results in the fourth quarter. The Board is also encouraged with the development of Seawell in 2008 including the purchase of Noble Corporation North Sea Platform division in April, Peak Well Solutions in May, TecWel in July and the modular rig under construction. These assets are important building blocks in the development of Seawell as a global oil service company and are likely to contribute significantly to profitable long term growth to the shareholders.''

For further information, please see the Seawell fourth quarter and preliminary 2008 report attached.


Contact:
Lars Bethuelsen,
CFO Seawell Management AS
+47 51 30 80 00

Seawell is a global oilfield service company providing drilling and well services, including platform drilling, drilling facility engineering, modular rigs, well intervention and oilfield technology. The company employs approximately 2,400 skilled and experienced people.

SEAW - Third quarter 2008 results

Company news

2008-11-25 08:33:19

Hamilton, Bermuda (November 25, 2008) - Seawell today announces the third quarter and nine months 2008 results.

Commenting on the results, Seawell's Executive Chairman Jørgen P Rasmussen says, ''Seawell is growing and continuing to deliver results according to plan. Solid progress is seen both in Drilling Services and Well Services. We have in the third quarter integrated Tecwel into to the Seawell group. Our operational presence in USA is growing and we are currently focusing on South America. We have during the nine months of 2008 extended the majority of our Drilling Service contracts and secured required financing for our investment program through new equity and five years credit lines.''

For further information, please see the Seawell third quarter 2008 report attached.

Contact:
Lars Bethuelsen, Chief Financial Officer, Seawell Management AS
+47 51 30 99 00


Seawell is a global oilfield service company providing drilling services and well services, including platform drilling, drilling facility engineering, modular rigs, well intervention and oilfield technology. The company employs approximately 2,400 skilled and experienced people.

SEAW - Presentation of third quarter 2008 results

Company news

2008-11-10 11:08:28

Seawell's third quarter 2008 results is scheduled to be released on Monday November 24, 2008. In connection with the earnings release, a live presentation will be held in direct continuation of Seadrill's third quarter 2008 result presentation in Oslo, Norway at Shippingklubben, Haakon VII gate, on Tuesday November 25, 2008 at 10.00 AM. if you wish to attend, please confirm your attendance to Bjorhild.togersen@seadrill.com or phone +47 51 30 98 53.

SEAW - Seawell appoints new Senior Vice President Human Resources

Company news

2008-11-05 15:34:20

Stavanger, Norway, November 5, 2008 --- Effective January 1, 2009, Gunnar Lemvik is appointed new Senior Vice President Human Resources in Seawell Management AS.

Mr Lemvik, who is 44 years old, has broad Norwegian and international experience. Before joining Seawell he has worked in Acergy where he presently holds the position as HR Director. Prior to working for Acergy, he has among others been five years with the Lærdal Medical Group. Gunnar Lemvik has a degree in law from the University of Oslo, specializing in company law and labour law.

Alf Ragnar Løvdal, CEO in Seawell Management AS, says in a comment, "The appointment of Gunnar Lemvik will strengthen corporate management and further contribute to the global development of the company."

SEAW - Minutes from Annual General Meeting 2008

Company news

2008-09-22 13:37:41

Seawell Limited (the "Company") advises that the 2008 Annual General Meeting of the Company was held on September 19, 2008 at 11:30 a.m. at the Fairmont Hamilton Princess, 76 Pitts Bay Road, Hamilton, Bermuda. The following resolutions were passed:

1) That the number of Directors be increased from five to six.

2) To re-elect Jorgen Rasmussen as a Director of the Company.

3) To re-elect Tor Olav Trøim as a Director of the Company.

4) To re-elect Kate Blankenship as a Director of the Company.

5) To re-elect Kjell E Jacobsen as a Director of the Company.

6) To re-elect Oscar Spieler as a Director of the Company.

7) To elect Cecilie Fredriksen as a Director of the Company to fill the casual vacancy existing on the Board as a result of the increase in the number of Directors from five to six.

8) To appoint PricewaterhouseCoopers AS of Oslo, Norway as auditors and to authorize the Directors to determine their remuneration.

9) That the remuneration payable to the Company's Board of Directors of a total amount of fees not to exceed US$150,000 be approved for the year ended December 31, 2008.


In addition, the audited consolidated financial statements for the Company for the year ended December 31, 2007 were presented to the Meeting.



Hamilton, Bermuda
September 19, 2008

SEAW - Pareto Oil and Offshore Conference 2008

Company news

2008-09-12 12:56:34

Please see the attachment for the Seawell Limited's presentation at the Pareto Oil and Offshore Conference, September 10, 2008.

SEAW - Revised Notice of Annual General Meeting 2008

Company news

2008-09-10 15:57:10

SEAWELL LIMITED
REVISED NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS
SEPTEMBER 19, 2008

NOTICE IS HEREBY given that the Annual General Meeting of the Shareholders of Seawell Limited (the "Company") will be held on September 19, 2008 at 11:30 a.m., at the Fairmont Hamilton Princess, 76 Pitts Bay Road, Hamilton, Bermuda for the following purposes, all of which are more completely set forth in the accompanying information statement:

1. To receive and adopt the financial statements of the Company for the period ended December 31, 2007.

2. To increase the number of Directors from five to SIX.

3. To re-elect Jorgen Rasmussen as a Director of the Company.

4. To re-elect Tor Olav Trøim as a Director of the Company.

5. To re-elect Kate Blankenship as a Director of the Company.

6. To re-elect Kjell E. Jacobsen as a Director of the Company.

7. To re-elect Oscar Spieler as a Director of the Company.

8. To elect Cecilie Fredriksen as a Director of the Company to fill the casual vacancy existing on the Board as a result of the increase in the number of Directors from five to six.

9. To appoint PricewaterhouseCoopers AS, as auditor and to authorize the Directors to determine their remuneration.

10. To approve the remuneration of the Company's Board of Directors of a total amount of fees not to exceed US$150,000.00 for the year ended December 31, 2008.

11. To transact other such business as may properly come before the meeting or any adjournment thereof.


By Order of the Board of Directors

Georgina Sousa
Secretary


Dated: August 15, 2008.

Notes:

1. The Board of Directors has fixed the close of business on July 11, 2008, as the record date for the determination of the shareholders entitled to attend and vote at the Annual General Meeting or any adjournment thereof.

2. No Shareholder shall be entitled to attend unless written notice of the intention to attend and vote in person or by proxy, together with the power of attorney or other authority (if any) under which it is signed, or a notarially-certified copy of that power of attorney, is sent to the Company Secretary, to reach the Registered Office by not later than 48 hours before the time for holding the meeting.

3. A Form of Proxy is enclosed for use in connection with the business set out above.

4. Each of the resolutions set out above is an Ordinary Resolution, approval of which will require the affirmative vote of a majority of the votes cast.


INFORMATION CONCERNING SOLICITATION AND VOTING FOR THE ANNUAL GENERAL MEETING OF SHAREHOLDERS (THE "MEETING") OF SEAWELL LIMITED TO BE HELD ON SEPTEMBER 19, 2008.


PRESENTATION OF FINANCIAL STATEMENTS

In accordance with Section 84 of the Companies Act 1981 of Bermuda, the audited consolidated financial statements of the Company for the period ended December 31, 2007 will be presented at the Meeting. These statements have been approved by the Directors of the Company. There is no requirement under Bermuda law that such statements be approved by shareholders, and no such approval will be sought at the Meeting.

The audited consolidated financial statements of the Company for the period ended December 31, 2007 have been provided to Shareholders by inclusion with this Notice of Annual General Meeting. The Company's audited consolidated financial statements are also available on its website at www.seawell.com.



COMPANY PROPOSALS

PROPOSAL I - INCREASE IN THE NUMBER OF DIRECTORS

At the Meeting, the Board will ask the Shareholders to approve increasing the number of Directors from five to SIX in order to permit the appointment of Ms. Cecilie Fredriksen as a Director of the Company.

PROPOSALS 2, 3, 4, 5, 6 and 7- ELECTION OF DIRECTORS

The Board has nominated the six persons listed below for selection as Directors of the Company, all of whom, with the exception of Ms. Fredriksen, are presently members of the Board of Directors. As provided in the Company's Bye-laws, each Director is elected at each Annual General Meeting of Shareholders and shall hold office until the next Annual General Meeting following his election or until his successor is elected.

Nominees For Election To The Company's Board Of Directors

Information concerning the nominees for Directors of the Company is set forth below:

Name Age Director Since Position with the Company

Jorgen Rasmussen 49 2007 Director and Chairman

Tor Olav Trøim 45 2007 Director and Deputy Chairman

Kate Blankenship 43 2007 Director

Kjell E. Jacobsen 51 2007 Director

Oscar Spieler 47 2007 Director

Cecilie Fredriksen 24

Jorgen Rasmussen has been Chairman and a Director of the Company since its incorporation in August, 2007. Prior to this, Mr. Rasmussen was employed by Schlumberger Limited ("Schlumberger") for 25 years. From 1998 to 2001 he was general manager of Schlumberger's Scandinavian office; from 2001 to 2003 he was president and CEO of Schlumberger Smart Cards; from 2003 to 2005 he was CEO of Atos Origin Northern Europe and from 2005 to 2008 he was Vice-President of WesternGeco. Mr. Rasmussen has worked for Schlumberger in Europe, Africa, Asia, Australia, Russia and the United States. He has held various board positions in industry associations and oilfield companies and holds a M.Sc. in Geology and Geophysics from the University of Aarhus, Denmark.

Tor Olav Trøim has been Deputy Chairman and a Director of the Company since its incorporation in August, 2007. He was Vice-President and a director of Frontline Ltd., from November, 1997 to February, 2008, and has served as a consultant and alternate director to the board of Frontline Ltd., since that time. Mr. Trøim graduated as M.Sc. Naval Architect from the University of Trondheim, Norway in 1985. His experience includes Portfolio Manager Equity in Storebrand ASA (1987 - 1990) and Chief Executive Officer for the Norwegian Oil Company DNO AS (1992 - 1995). Since 1995, Mr. Trøim has been a director of Seatankers Management Co., Ltd., in Cyprus. In this capacity, he has acted as Chief Executive Officer for the public companies, Knightsbridge Tankers Limited, Golar LNG Limited (NASDAQ) and Seadrill Limited. Mr. Trøim is currently a director and Vice-Chairman of the latter two companies and, in addition, is a member of the Boards of the public companies, Ship Finance International Limited (NYSE), of which he is also President, Golden Ocean Group Limited (OSE), and Aktiv Kapital ASA (OSE).

Kate Blankenship has been a Director of the Company since its incorporation in August, 2007. Mrs. Blankenship is also a director of Frontline Ltd, Golar LNG Limited, Ship Finance International limited, Golden Ocean Group Limited and Seadrill Limited. Mrs. Blankenship is a member of the Institute of Chartered Accountants of England and Wales.

Kjell E. Jacobsen has been a Director of the Company since September, 2007, at which time he replaced Mr. Alf C. Thorkildsen on the Board. Mr. Jacobsen has served as a director of Seadrill Limited since May, 2008. He was CEO of Seadrill Management AS ("Seadrill AS") from 2005 until 2008. From 2002 to 2006, he was the CEO of the offshore drilling contractor, Smedvig. Between 1991 and 2002, he held several senior positions, including his appointment as managing director of the mobile units of Smedvig AS. From 1981 to 1991, Mr. Jacobsen worked for Statoil and Citibank in both Oslo and London. He graduated from the Norwegian Naval Academy in 1976 and from the Norwegian School of Economics and Business Administration in 1981.

Oscar Spieler has been a Director of the Company since its incorporation in August, 2007. Mr. Spieler is the CEO of Sea Production Management AS, a subsidiary of Sea Production Ltd. Mr. Spieler was previously CEO of Frontline Management AS and, from 1999 to 2003, he served as its Technical Director. From 1995 to 1999, he was employed as a fleet manager for Bergesen, a major Norwegian gas tanker and VLCC owner and from 1986 to 1995, he was with the Norwegian classification society DNV, where he handled both shipping and offshore assets.

Cecilie Fredriksen is being proposed to be elected to the Company as a Director to fill the casual vacancy on the Board created by the increase of Directors from five to six. Ms. Fredriksen is currently employed by Frontline Corporate Services in London and serves as a director of Aktiv Kapital ASA (OSE). Ms. Fredriksen received a BA in Business and Spanish from the London Metropolitan University in 2006. She is the daughter of Mr. John Fredriksen.

PROPOSAL 8 - APPOINTMENT OF INDEPENDENT AUDITORS

At the Meeting, the Board will ask the shareholders to approve the appointment of PricewaterhouseCoopers AS, as the Company's independent auditors and to authorise the Board of Directors to determine the auditors' remuneration.

Audit services provided by PricewaterhouseCoopers AS include the examination of the consolidated financial statements of the Company and its subsidiaries.

PROPOSAL 9 - TO APPROVE DIRECTORS' FEES

At the Meeting, the Board will ask that shareholders to approve the remuneration of the Company's Board of Directors of a total amount of fees not to exceed US$150,000.00 for the year ended December 31, 2008.

OTHER BUSINESS

Management knows of no business that will be presented for consideration at the Annual General Meeting other than that stated in the Notice of Annual General Meeting. Should any additional matters come before the Annual General Meeting, it is intended that proxies in the accompanying form will be voted in accordance with the judgement of the person or persons named in the proxy.

By Order of the Board of Directors

Georgina Sousa
Secretary

August 15, 2008
Hamilton, Bermuda

Seawell Limited (the "Company")
Form of Proxy for use at Annual General Meeting to be held on September 19, 2008.

I/We ...............................................................................................................................................................
(NAME IN BLOCK CAPITALS)

Of ...................................................................................................................................................................

being (a) holder(s) of ....................................... Ordinary Shares of $2.00 each of the above-named
Company on the record date of July 11, 2008, hereby appoint the duly appointed Chairman of the meeting or .................................................................... to act as my/our proxy at the Annual General Meeting of the Company to be held on September 19, 2008, or at any adjournment thereof, and to vote on my/our behalf as directed below.

Please indicate with an X in the spaces provided how you wish your vote(s) to be cast on a poll. Should this card be returned duly signed, but without a specific direction, the proxy will vote or abstain at his discretion.

Resolutions For Against Abstain
1. To increase the number of Directors from five to SIX.
2. To re-elect Jorgen Rasmussen as a Director of the Company.
3. To re-elect Tor Olav Trøim as a Director of the Company.
4. To re-elect Kate Blankenship as a Director of the Company.
5. To re-elect Kjell E. Jacobsen as a Director of the Company.
6. To re-elect Oscar Spieler as a Director of the Company.
7. To elect Cecilie Fredriksen as a Director of the Company.
8. To appoint PricewaterhouseCoopers AS as auditor and to authorise the Directors to determine their remuneration.
9. To approve the remuneration of the Company's Board of Directors of a total amount of fees not to exceed US$150,000.00 for the year ended December 31, 2008.
10. To transact other such business as may properly come before the meeting or any adjournment thereof.

Date ...................................... Signature .........................................................................................................

Notes:
1. A Shareholder entitled to attend and vote at a meeting may appoint one or more proxies to attend and, on a poll, vote instead of him.
2. Proxies appointed by a single Shareholder need not all exercise their vote in the same manner.
3. In the case of joint holders, the vote of the senior who tenders a vote, whether in person or by proxy, will be accepted to the exclusion of the votes of the other joint holders. For this purpose, seniority is determined by the order in which the names stand in the Register of Members.
4. In the case of a corporation, this proxy must be given under its common seal or be signed on its behalf by a duly authorised officer or attorney.
5. If it is desired to appoint by proxy any person other than the Chairman of the Meeting, his/her name should be inserted in the relevant place, reference to the Chairman deleted and the alteration initialled.
6. This proxy should be completed and sent to the following address by not later than 48 hours before the time for holding the meeting:

Nordea Bank Norge ASA
Issuer Services
PO Box 1166 Sentrum
0107 Oslo, Norway
Fax: +47 22 48 49 90/ +47 22 48 63 49

Notice of Annual General Meeting 2008

Company news

2008-09-10 09:58:23

SEAWELL LIMITED
NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS
SEPTEMBER 19, 2008

NOTICE IS HEREBY given that the Annual General Meeting of the Shareholders of Seawell Limited (the "Company") will be held on September 19, 2008 at 11:30 a.m., at the Fairmont Hamilton Princess, 76 Pitts Bay Road, Hamilton, Bermuda for the following purposes, all of which are more completely set forth in the accompanying information statement:

1. To receive and adopt the financial statements of the Company for the period ended December 31, 2007.

2. To re-elect Jorgen Rasmussen as a Director of the Company.

3. To re-elect Tor Olav Trøim as a Director of the Company.

4. To re-elect Kate Blankenship as a Director of the Company.

5. To re-elect Kjell E. Jacobsen as a Director of the Company.

6. To re-elect Oscar Spieler as a Director of the Company.

7. To appoint PricewaterhouseCoopers AS, as auditor and to authorize the Directors to determine their remuneration.

8. To approve the remuneration of the Company's Board of Directors of a total amount of fees not to exceed US$150,000.00 for the year ended December 31, 2008.

9. To transact other such business as may properly come before the meeting or any adjournment thereof.


By Order of the Board of Directors

Georgina Sousa
Secretary


Dated: September 8, 2008.

Notes:

1. The Board of Directors has fixed the close of business on September 8, 2008, as the record date for the determination of the shareholders entitled to attend and vote at the Annual General Meeting or any adjournment thereof.

2. No Shareholder shall be entitled to attend unless written notice of the intention to attend and vote in person or by proxy, together with the power of attorney or other authority (if any) under which it is signed, or a notarially-certified copy of that power of attorney, is sent to the Company Secretary, to reach the Registered Office by not later than 48 hours before the time for holding the meeting.

3. A Form of Proxy is enclosed for use in connection with the business set out above.

4. Each of the resolutions set out above is an Ordinary Resolution, approval of which will require the affirmative vote of a majority of the votes cast.


INFORMATION CONCERNING SOLICITATION AND VOTING FOR THE ANNUAL GENERAL MEETING OF SHAREHOLDERS (THE "MEETING") OF SEAWELL LIMITED TO BE HELD ON SEPTEMBER 19, 2008.


PRESENTATION OF FINANCIAL STATEMENTS

In accordance with Section 84 of the Companies Act 1981 of Bermuda, the audited consolidated financial statements of the Company for the period ended December 31, 2007 will be presented at the Meeting. These statements have been approved by the Directors of the Company. There is no requirement under Bermuda law that such statements be approved by shareholders, and no such approval will be sought at the Meeting.

The audited consolidated financial statements of the Company for the period ended December 31, 2007 have been provided to Shareholders by inclusion with this Notice of Annual General Meeting. The Company's audited consolidated financial statements are also available on Norwegian Securities Dealers Association website www.nfmf.no .under ticker SEAW.



COMPANY PROPOSALS

PROPOSALS 1, 2, 3, 4 and 5 - ELECTION OF DIRECTORS

The Board has nominated the five persons listed below for selection as Directors of the Company, all of whom are presently members of the Board of Directors. As provided in the Company's Bye-laws, each Director is elected at each Annual General Meeting of Shareholders and shall hold office until the next Annual General Meeting following his election or until his successor is elected.

Nominees For Election To The Company's Board Of Directors

Information concerning the nominees for Directors of the Company is set forth below:

Name Age Director Since Position with the Company

Jorgen Rasmussen 49 2007 Director and Chairman

Tor Olav Trøim 45 2007 Director and Deputy Chairman

Kate Blankenship 43 2007 Director

Kjell E. Jacobsen 51 2007 Director

Oscar Spieler 47 2007 Director

Jorgen Rasmussen has been Chairman and a Director of the Company since its incorporation in August, 2007. Prior to this, Mr. Rasmussen was employed by Schlumberger Limited ("Schlumberger") for 25 years. From 1998 to 2001 he was general manager of Schlumberger's Scandinavian office; from 2001 to 2003 he was president and CEO of Schlumberger Smart Cards; from 2003 to 2005 he was CEO of Atos Origin Northern Europe and from 2005 to 2008 he was Vice-President of WesternGeco. Mr. Rasmussen has worked for Schlumberger in Europe, Africa, Asia, Australia, Russia and the United States. He has held various board positions in industry associations and oilfield companies and holds a M.Sc. in Geology and Geophysics from the University of Aarhus, Denmark.

Tor Olav Trøim has been Deputy Chairman and a Director of the Company since its incorporation in August, 2007. He was Vice-President and a director of Frontline Ltd., from November, 1997 to February, 2008, and has served as a consultant and alternate director to the board of Frontline Ltd., since that time. Mr. Trøim graduated as M.Sc. Naval Architect from the University of Trondheim, Norway in 1985. His experience includes Portfolio Manager Equity in Storebrand ASA (1987 - 1990) and Chief Executive Officer for the Norwegian Oil Company DNO AS (1992 - 1995). Since 1995, Mr. Trøim has been a director of Seatankers Management Co., Ltd., in Cyprus. In this capacity, he has acted as Chief Executive Officer for the public companies, Knightsbridge Tankers Limited, Golar LNG Limited (NASDAQ) and Seadrill Limited. Mr. Trøim is currently a director and Vice-Chairman of the latter two companies and, in addition, is a member of the Boards of the public companies, Ship Finance International Limited (NYSE), of which he is also President, Golden Ocean Group Limited (OSE), and Aktiv Kapital ASA (OSE).

Kate Blankenship has been a Director of the Company since its incorporation in August, 2007. Mrs. Blankenship is also a director of Frontline Ltd, Golar LNG Limited, Ship Finance International limited, Golden Ocean Group Limited and Seadrill Limited. Mrs. Blankenship is a member of the Institute of Chartered Accountants of England and Wales.

Kjell E. Jacobsen has been a Director of the Company since September, 2007, at which time he replaced Mr. Alf C. Thorkildsen on the Board. Mr. Jacobsen has served as a director of Seadrill Limited since May, 2008. He was CEO of Seadrill Management AS ("Seadrill AS") from 2005 until 2008. From 2002 to 2006, he was the CEO of the offshore drilling contractor, Smedvig. Between 1991 and 2002, he held several senior positions, including his appointment as managing director of the mobile units of Smedvig AS. From 1981 to 1991, Mr. Jacobsen worked for Statoil and Citibank in both Oslo and London. He graduated from the Norwegian Naval Academy in 1976 and from the Norwegian School of Economics and Business Administration in 1981.

Oscar Spieler has been a Director of the Company since its incorporation in August, 2007. Mr. Spieler is the CEO of Sea Production Management AS, a subsidiary of Sea Production Ltd. Mr. Spieler was previously CEO of Frontline Management AS and, from 1999 to 2003, he served as its Technical Director. From 1995 to 1999, he was employed as a fleet manager for Bergesen, a major Norwegian gas tanker and VLCC owner and from 1986 to 1995, he was with the Norwegian classification society DNV, where he handled both shipping and offshore assets.

PROPOSAL 6 - APPOINTMENT OF INDEPENDENT AUDITORS

At the Meeting, the Board will ask the shareholders to approve the appointment of PricewaterhouseCoopers AS, as the Company's independent auditors and to authorise the Board of Directors to determine the auditors' remuneration.

Audit services provided by PricewaterhouseCoopers AS include the examination of the consolidated financial statements of the Company and its subsidiaries.

PROPOSAL 7 - TO APPROVE DIRECTORS' FEES

At the Meeting, the Board will ask that shareholders to approve the remuneration of the Company's Board of Directors of a total amount of fees not to exceed US$150,000.00 for the year ended December 31, 2008.

OTHER BUSINESS

Management knows of no business that will be presented for consideration at the Annual General Meeting other than that stated in the Notice of Annual General Meeting. Should any additional matters come before the Annual General Meeting, it is intended that proxies in the accompanying form will be voted in accordance with the judgement of the person or persons named in the proxy.

By Order of the Board of Directors

Georgina Sousa
Secretary

September 8, 2008
Hamilton, Bermuda

Seawell Limited (the "Company")
Form of Proxy for use at Annual General Meeting to be held on September 19, 2008.

I/We ...............................................................................................................................................................
(NAME IN BLOCK CAPITALS)

Of ...................................................................................................................................................................

being (a) holder(s) of ....................................... Ordinary Shares of $2.00 each of the above-named
Company on the record date of September 8, 2008, hereby appoint the duly appointed Chairman of the meeting or .................................................................... to act as my/our proxy at the Annual General Meeting of the Company to be held on September 19, 2008, or at any adjournment thereof, and to vote on my/our behalf as directed below.

Please indicate with an X in the spaces provided how you wish your vote(s) to be cast on a poll. Should this card be returned duly signed, but without a specific direction, the proxy will vote or abstain at his discretion.

Resolutions For Against Abstain
1. To re-elect Jorgen Rasmussen as a Director of the Company.
2. To re-elect Tor Olav Trøim as a Director of the Company.
3. To re-elect Kate Blankenship as a Director of the Company.
4. To re-elect Kjell E. Jacobsen as a Director of the Company.
5. To re-elect Oscar Spieler as a Director of the Company.
6. To appoint PricewaterhouseCoopers AS as auditor and to authorise the Directors to determine their remuneration.
7. To approve the remuneration of the Company's Board of Directors of a total amount of fees not to exceed US$150,000.00 for the year ended December 31, 2008.
8. To transact other such business as may properly come before the meeting or any adjournment thereof.

Date ...................................... Signature .........................................................................................................

Notes:
1. A Shareholder entitled to attend and vote at a meeting may appoint one or more proxies to attend and, on a poll, vote instead of him.
2. Proxies appointed by a single Shareholder need not all exercise their vote in the same manner.
3. In the case of joint holders, the vote of the senior who tenders a vote, whether in person or by proxy, will be accepted to the exclusion of the votes of the other joint holders. For this purpose, seniority is determined by the order in which the names stand in the Register of Members.
4. In the case of a corporation, this proxy must be given under its common seal or be signed on its behalf by a duly authorised officer or attorney.
5. If it is desired to appoint by proxy any person other than the Chairman of the Meeting, his/her name should be inserted in the relevant place, reference to the Chairman deleted and the alteration initialed.
6. This proxy should be completed and sent to the following address by not later than 48 hours before the time for holding the meeting:

Nordea Bank Norge ASA
Issuer Services
PO Box 1166 Sentrum
0107 Oslo, Norway
Fax: +47 22 48 49 90/ +47 22 48 63 49

SEAW - Second quarter 2008 results

Company news

2008-08-29 08:28:54

Hamilton, Bermuda (August 29, 2008)
Seawell today announces the second quarter 2008 results.

Commenting on the results, Seawell's Executive Chairman Jørgen P Rasmussen says, ''Seawell is continuing the growth and are carefully acquiring and integrating selected oilfield service companies in order to strengthen the operating margins and technology content of our drilling services and well services divisions. Our geographic presence and operations has in 2008 through organic growth and acquisitions been extended to Africa, Middle East, Far East and the USA, and we will further expand our global operations. We have created a solid platform for further expansion and are optimistic on the possibility to deliver high profitable long-term growth to the shareholders.''

For further information, please see the Seawell second quarter 2008 report attached.


Contact:
Lars Bethuelsen, Chief Financial Officer, Seawell Management AS
+47 51 30 99 00


Seawell is a global oilfield service company providing drilling services and well services, including platform drilling, drilling facility engineering, modular rigs, well intervention and oilfield technology. The company employs approximately 2,400 skilled and experienced people.

SEAW - Seawell secures contract extension on Gyda

Company news

2008-08-26 09:07:14

Hamilton, Bermuda (August 26, 2008) - Seawell Limited has been awarded a two year contract extension by Talisman for platform drilling and maintenance services on the Gyda field until December 2010.

Commenting on the contract, Seawell's CEO Alf Ragnar Løvdal said, "Seawell has during the last 30 years built up significant competence within platform drilling and developed a highly skilled workforce. We look forward to continue our effort to provide Talisman safe and cost effective drilling and maintenance services''.

Contact:
Lars Bethuelsen, Chief Financial Officer, Seawell Management AS
+47 51 30 99 00



Seawell is a company providing well services with core business being platform drilling, drilling facility engineering, modular rig and workover units, well intervention and oilfield technology. The company employs approximately 2300 skilled and experienced people. Seawell currently operates on nearly 50 installations in the North Sea and has offices in Stavanger, Bergen, Aberdeen, Newcastle, Houston and Esbjerg.

SEAW - Seawell secures contract extension on Ula and Valhall

Company news

2008-08-22 08:54:17

Hamilton, Bermuda (August 22, 2008) - Seawell Limited has been awarded a new platform drilling contract by BP Norge AS for platform drilling and rig maintenance services on all BP's platform facilities on the Norwegian continental shelf. The contract include drilling facility engineering and rig ready for operations refurbishment work on Ula.

The drilling assignment has a firm duration of five years with options for two times three years. Commencement on the Ula drilling assignment is scheduled for 2009.

Commenting on the contract, Seawell's CEO Alf Ragnar Løvdal said, "Seawell has during the last 30 years built up significant competence within platform drilling and developed a highly skilled workforce. The award confirms our strong and long-term relationship with BP and strengthen our ability to service our North Sea clients. We look forward to continue our effort to provide one of our most significant clients with a top team of skilled and experienced people, performing safe operations in all drilling and well maintenance assignments."


Contact:
Lars Bethuelsen, Chief Financial Officer, Seawell Management AS
+47 51 30 99 00


Seawell is a company providing well services with core business being platform drilling, drilling facility engineering, modular rig and workover units, well intervention and oilfield technology. The company employs approximately 2300 skilled and experienced people. Seawell currently operates on nearly 50 installations in the North Sea and has offices in Stavanger, Bergen, Aberdeen, Newcastle, Houston and Esbjerg.

SEAW - Closing of the TecWel acquisition

Company news

2008-07-09 09:05:22

Hamilton, Bermuda (July 9, 2008) - Reference is made to the press release of May 27, 2008, regarding the purchase of TecWel AS. Seawell Limited announced yesterday the successful closing of the purchase.

SEAW - First quarter 2008 results

Company news

2008-05-28 09:00:59

Commenting on the result Seawell Executive Chairman Jørgen P Rasmussen says, "Seawell is rapidly growing into a significant international drilling and well services company. The first quarter 2008 reflects a high level of activity including orders of a new modular drilling rig as well as several acquisitions as the Noble Corporation North Sea platform division, the Peak Well Solutions and just recently the TecWell company. The decision to make these investments is based on the continued strength of the well services market. We have created a solid platform for further growth and a good basis for building significant shareholder value."

For further information, please see the Seawell first quarter 2008 report attached.

A presentation of Seawell's first quarter 2008 results will take place in continuation of the Seadrill's presentation in Oslo, Norway at Felix Konferansesenter AS, Bryggetorget 3 Vika, on Wednesday May 28, 2008 at 10.00AM. The Seadrill presentation will start at 10.00AM and the Seawell presentation is expected to start approximately 11.00AM.




Seawell is a company providing well services with core business being platform drilling, drilling facility engineering, modular rig and workover units, well intervention and oilfield technology. The company employs approximately 2,300 skilled and experienced people. Seawell currently operates on nearly 50 installations in the North Sea and has offices in Stavanger, Bergen, Aberdeen, Newcastle, Houston and Esbjerg.

SEAW - Seawell acquires TecWel

Company news

2008-05-27 08:41:36

Hamilton, Bermuda (May 27, 2008) - Seawell Limited announces today the purchase of TecWel AS. The purchase price is NOK168 million. A possible increase in the purchase price is agreed based on future performance and technology achievements.

TecWel develops and manufactures proprietary high frequency ultrasound investigation tools and provides cased-hole services within production optimization and well integrity to the oil and gas industry world wide.

Commenting on the acquisition, Seawell's Executive Chairman, Jørgen Peter Rasmussen said, "This acquisition falls in line with several other acquisitions made by the company recently in order to create a Seawell technology group. It further increases our ability to serve our clients, adding additional unique well services tools to our line of specialized products and services. The acquisition is in line with our strategy to strengthening our offering to the drilling and well services segment of the oil and gas industry."


Contact:
Lars Bethuelsen, Chief Financial Officer, Seawell Management AS
Ph. +47 51 30 98 45

Jørgen Peter Rasmussen, Executive Chairman, Seawell Management AS
Ph. +47 48 40 23 25

Seawell is a company providing well services with core business being platform drilling, drilling facility engineering, modular rig and workover units, well intervention and oilfield technology. The company employs approximately 2300 skilled and experienced people. Seawell currently operates on nearly 50 installations in the North Sea and has offices in Stavanger, Bergen, Aberdeen, Newcastle, Houston and Esbjerg.

SEAW - Closing of the Peak Well Solutions acquisition

Company news

2008-05-16 09:32:54

Hamilton, Bermuda (May 16, 2008) - Reference is made to the press release of March 25, 2008 regarding the purchase of Peak Well Solutions AS. Seawell Limited announces today the successful closing of the purchase.



Contact:
Lars Bethuelsen, Chief Financial Officer, Seawell Management AS
+47 51 30 98 45



Seawell is a company providing well services within platform drilling, engineering and well intervention. The services include production drilling and well maintenance services on several platforms, concept studies, drilling facility upgrading and modifications as well as mechanical and electrical wireline services. The company employs more than 2000 skilled and experienced people and operates offices in Stavanger, Bergen, Aberdeen, Houston, Newcastle and Esbjerg.

SEAW - Mandatory notification of trade

Company news

2008-05-13 08:57:57

Hamilton, Bermuda (May 13, 2008) - Seawell Limited has purchased a total of 1,000,000 Seawell Limited shares, of which 831,400 shares have been purchased from Seadrill Limited. The shares have been bought at an average price of NOK22.15 per share. The Company's holding of own shares after the transaction is 1,000,000 shares. The shares will be used as part settlement to key personnel in Peak Well Solutions.

SEAW - Mandatory notification of trade

Company news

2008-05-13 08:56:10

Hamilton, Bermuda (May 13, 2008) - Seawell Limited has purchased a total of 1,000,000 Seawell Limited shares, of which 831,400 shares have been purchased from Seadrill Limited. The shares have been bought at an average price of NOK22.15 per share. The Company's holding of own shares after the transaction is 1,000,000 shares. The shares will be used as part settlement to key personnel in Peak Well Solutions.

Endring av aksje: Seawell Ltd. (SEAW)

Corporate actions

2008-05-05 15:33:56

Det er foretatt endringer i Seawell Ltd. (ISIN:BMG795601019, ticker SEAW). Aksjebeholdningen er øket fra 100 000 050 til 110 000 050. Emisjonsverdien er øket fra 1 375 000 687 til 2 145 000 975.

SEAW - Private placement completed

Company news

2008-04-11 08:41:45

Hamilton, Bermuda (April 11, 2008) - Reference is made to the press release dated April 10, 2008 regarding the private placement in Seawell Ltd. (SEAW).

The Board of Directors of Seawell resolved to issue 10,000,000 new shares at NOK19.50 per share. The proceeds from the offering, approximately NOK195 million will be used as part finance of the Company's recent acquisitions, strengthening of the working capital and positioning for further growth. The issue also intends to increase liquidity and the free float in the Seawell share.

The book was significantly oversubscribed.

The private placement was managed by Pareto Securities and DnB NOR Markets.



Contact:
Lars Bethuelsen, Chief Financial Officer, Seawell Management AS
+47 51 30 98 45


Seawell is a company providing well services within platform drilling, engineering and well intervention. The services include production drilling and well maintenance services on several platforms, concept studies, drilling facility upgrading and modifications as well as mechanical and electrical wireline services. The company employs more than 2000 skilled and experienced people and operates offices in Stavanger, Bergen, Aberdeen, Houston, Newcastle, Esbjerg and Kristiansand

SEAW - Seawell private placement

Company news

2008-04-10 16:41:13

Hamilton, Bermuda (April 10, 2008) -Seawell Ltd. has decided to increase the Company's equity base through a private placement of 10 million shares to a share price of NOK 19.50 per share. The proceeds from the offering, approximately NOK 195 million, will be used as part finance of the Company's recent acquisitions, strengthening of the working capital and positioning for further growth. The issue also intends to increase liquidity and the free float in the Seawell share.

The placement will be managed by Pareto Securities AS and DnB NOR Markets and is expected to close at 08:30 CET on 11 April 2008 at the latest.

Seawell's major shareholders', Seadrill Limited and Hemen Holding, has guaranteed completion of the private placement and has also pre-subscribed and been pre allocated minimum three million shares.



Contact:
Lars Bethuelsen, Chief Financial Officer, Seawell Management AS
+47 51 30 98 45


Seawell is a company providing well services within platform drilling, engineering and well intervention. The services include production drilling and well maintenance services on several platforms, concept studies, drilling facility upgrading and modifications as well as mechanical and electrical wireline services. The company employs more than 2000 skilled and experienced people and operates offices in Stavanger, Bergen, Aberdeen, Houston, Newcastle, Esbjerg and Kristiansand

SEAW - Closing of the Noble North Sea platform division acquisition

Company news

2008-04-08 13:31:59

Hamilton, Bermuda (April 8, 2008) - Reference is made to the press release of January 16, 2008 regarding the purchase of Noble Corporation North Sea Platform division. Seawell Limited announces today the successful closing of the purchase.



Contact:
Lars Bethuelsen, Chief Financial Officer, Seawell Management AS
+47 51 30 98 45



Seawell is a company providing well services within platform drilling, engineering and well intervention. The services include production drilling and well maintenance services on several platforms, concept studies, drilling facility upgrading and modifications as well as mechanical and electrical wireline services. The company employs more than 2000 skilled and experienced people and operates offices in Stavanger, Bergen, Aberdeen, Houston, Newcastle, Esbjerg and Kristiansand.

SEAW - Seawell acquires Peak Well Solutions

Company news

2008-03-25 12:20:50

Hamilton, Bermuda (March 25, 2008) - Seawell Limited announces today the purchase of Peak Well Solutions AS. The purchase price is NOK410 million.

Peak Well Solutions is a rapidly growing Norwegian owned oil service company with a turnover of above NOK200 mill (2008), offering products and services for the upstream offshore oil and gas industry. The company is recognized for its own developed range of casing, plugs, and liner technologies and services. Peak Well Solutions performs development, engineering, assembly, testing, sales and operations of products. Research and development (R&D) and refining existing products are an important aspect of the business, and 10 percent of total annual revenues are re-invested for further development of new technology. The company employs approximately 60 people.

Commenting on the acquisition, Seawell's Executive Chairman, Jørgen Peter Rasmussen said: "This acquisition increases our ability to serve our clients, adding a new range of unique well barrier products to our line of services, enhancing Seawell's wide portfolio of specialized products and services. The acquisition is in line with our strategy to strengthening our offering to the drilling and well services segment of the oil and gas industry."


Contact:
Lars Bethuelsen, Chief Financial Officer, Seawell Management AS
Ph. +47 51 30 98 45

Jørgen Peter Rasmussen, Executive Chairman, Seawell Management AS
Ph. +47 48 40 23 25

Jostein Aleksandersen, acting Chief Executive Officer, Peak Well Solutions AS
Ph. +47 91 11 31 38/+47 51 57 06 60


Seawell is a company providing well services within platform drilling, engineering and well intervention. The services include production drilling and well maintenance services on several platforms, concept studies, drilling facility upgrading and modifications as well as mechanical and electrical wireline services. The company employs more than 2,000 skilled and experienced people and operates offices in Stavanger, Bergen, Aberdeen, Houston, Newcastle, Esbjerg and Kristiansand.

Fourth quarter and preliminary result 2007 presentation

Company news

2008-03-04 08:47:38

Please see attachment.

SEAW - Seawell secures contract extension on Gullfaks and Statfjord

Company news

2008-03-03 15:57:55

Hamilton, Bermuda (March 3, 2008) - Seawell Limited has been awarded a contract extension by StatoilHydro for platform drilling services and maintenance on the Gullfaks and Statfjord fields on the Norwegian continental shelf. The drilling assignment has a firm duration of two years with option for an additional four years. The estimated value for the firm part of the contract is NOK1 billion. Commencement under the extended contract, with start-up October 2008, is in direct continuation of the present contract on Statfjord and Gullfaks.

Seawell has been working on the Statfjord A, B and C platforms since 1982 and the Gullfaks A, B and C since 2004.

Commenting on the contract, Seawell's CEO Alf Ragnar Løvdal said: "Seawell has during the last 30 years built up significant competence within platform drilling and developed a highly skilled workforce. The award confirms our strong and long-term relationship with StatoilHydro and strengthen our ability to service our North Sea clients. We look forward to continue our effort to provide one of our most significant clients with a top team of skilled and experienced people, performing safe operations in all drilling and well maintenance assignments".


Contact:
Lars Bethuelsen, Chief Financial Officer, Seawell Management AS
+47 51 30 99 00


Seawell is a company providing well services within platform drilling, engineering and well intervention. The services include production drilling and well maintenance services on several platforms, concept studies, drilling facility upgrading and modifications as well as mechanical and electrical wireline services. The company employs approximately 1800 skilled and experienced employees and operates offices in Stavanger, Bergen, Aberdeen, Newcastle, Esbjerg and Kristiansand.

SEAW - Fourth quarter and preliminary 2007 results.

Company news

2008-02-27 16:53:51

Commenting on the result, Seawell Executive Chairman Jørgen P Rasmussen said: "Strong growth in all core activities contributed to a strong result in 2007. Growth in the drilling facility engineering services outpaced our expectations. The results reflects also significant increased activity in wireline services through the year."

For further information, please see the Seawell fourth quarter and preliminary results 2007 report attached.

SEAW - Presentation of fourth quarter and preliminary 2007

Company news

2008-02-20 12:32:16

Seawell's fourth quarter and preliminary 2007 results is scheduled to be released on Wednesday February 27, 2008 as part of the Seadrill Limited's release. In connection with the Seadrill's earnings release, Seadrill will perform a teleconference/webcast and a live presentation will be held as described below. The Seawell management will be present at the teleconference and will be available for questions during the Q&A session:

1. TELECONFERENCE AND WEBCAST

A conference call will be held at 5:00 P.M. (Norwegian time) on Wednesday February 27, 2008.

To listen to the management presentation of the results, the following options are available:

A. Webcast

Go to the Investor Relations section at www.seadrill.com and click on the link to "Webcast".
In order to listen to the conference call on the web, you need to have installed Windows Media Player and a sound card on your computer.

B. Teleconference

Call-in numbers:
Norway Free call 800 19640
International call +44 20 7806 1967
UK Free call 0800 028 1299
USA Free call 1888 935 4575

The participants will be asked for their name, company and conference ID. The Seadrill conference ID is: 5729454

There will be a Q&A session subsequent to the presentation where Seawell management will be present. Information on "how to ask management questions" will be given at the beginning of the Q&A session.

In order to view the presentation held while listening to the conference, please download the presentation material from www.seadrill.com

If you are unable to participate in the call, there is an opportunity to listen to a replay of the conference call on www.seadrill.com (Investor Relations) or to listen to a playback by dialing:

International/UK Free call: 0800 559 3271
USA Free call: 1866 239 0765
- followed by replay access number: 5729454#

Participant list information required: Full name & company
Replay will be available for seven days.


2. LIVE PRESENTATION

A presentation of Seawell's fourth quarter and preliminary results for 2007 will take place in continuation of the Seadrill's presentation in Oslo, Norway at Shippingklubben, Haakon VII gate on Thursday February 28, 2008. The Seadrill presentation will start at 10.00AM and the Seawell presentation is expected to start approximately 11.00AM. If you wish to attend, please confirm your attendance to bente.skogheim@seadrill.com, phone + 47 51 30 98 45.

SEAW - Seawell to acquire new well service unit

Company news

2008-02-05 08:50:37

Hamilton, Bermuda (February 5, 2008) - Seawell Limited has signed a Letter of Intent for the purpose of acquiring a new well service unit (WSU) with Streicher GmbH in Germany. Total capital expenditure for the unit is estimated to approximately US$50 million. The contract includes one unit with option for two additional units.

The new unit which is be based on a Streicher designed modular rig concept, will be delivered in the third quarter 2009. The well service unit is primarily targeted and marketed for operations on platforms on the UK and Norwegian continental shelves.

The modular well services unit is designed to replace many traditional drilling and well intervention services, offering a flexible and standardized concept which provides for a wide specter of services and capabilities, including drilling snubbing, well workover, managed pressure drilling (MPD), easy integration of coil tubing and wireline services and well plugging and abandonment. The new unit facilitates for fast mobilization and demobilization and represents a cost-effective alternative to conventional drilling and well intervention, allowing for increased oil recovery from mature fields. The new modular unit can be used as a stand-alone unit or in combination with existing platform equipment.

The unit will be built in accordance with North Sea regulatory requirements.

Commenting on the acquisition, Seawell's Executive Chairman, Jørgen Peter Rasmussen said: "This new well service unit reinforces and strengthens Seawell's position as a major player in the well intervention industry. The growing number of old and mature fields in the North Sea, as well as diminishing oil reserves, will generate increasing demand for this kind of flexible and cost-effective units."


Contact:
Lars Bethuelsen, Chief Financial Officer, Seawell Management AS
+47 51 30 98 45


Seawell is a company providing well services within platform drilling, engineering and well intervention. The services include production drilling and well maintenance services on several platforms, concept studies, drilling facility upgrading and modifications as well as mechanical and electrical wireline services. The company employs approximately 1800 skilled and experienced people and operates offices in Stavanger, Bergen, Aberdeen, Newcastle, Esbjerg and Kristiansand.

SEAW - Seawell to acquire Noble's platform drilling division in the UK

Company news

2008-01-16 08:49:17

Hamilton, Bermuda (January 16, 2008) - Seawell Limited announces today the purchase of Noble Corporation North Sea Platform division (ND UK), by acquiring all shares in Noble Drilling UK Limited. The purchase price is USD35 million. In addition there is a need to finance approximately USD20 million in working capital.

The acquisition includes platform drilling contracts on 11 fixed installations covering five different fields on the UK continental shelf.

Seawell has, based on previous company structures, over 30 years experience and track record from platform drilling on the UK continental shelf. The company has held platform drilling contracts on different fields for several operators since 1977.

Commenting on the acquisition, Seawell's Executive Chairman, Jørgen Peter Rasmussen said: "This acquisition increases our ability to serve our clients, adding a further 450 highly competent people to our workforce. The addition of such an experienced team is definitively very positive for the clients and the company."

The acquisition will be submitted to the UK Office of Fair Trading for consideration.


Contact:
Lars Bethuelsen, Chief Financial Officer, Seawell Management AS
+47 51 30 98 45



Seawell is a company providing well services within platform drilling, engineering and well intervention. The services include production drilling and well maintenance services on several platforms, concept studies, drilling facility upgrading and modifications as well as mechanical and electrical wireline services. The company employs approximately 1800 skilled and experienced people and operates offices in Stavanger, Bergen, Aberdeen, Newcastle, Esbjerg and Kristiansand.

SEAW - Seawell secures new platform upgrade and drilling contract in the UK

Company news

2008-01-11 09:06:48

Hamilton, Bermuda (January 11, 2008) - Seawell Limited has been awarded a contract by the Fairfield Energy Limited for the provision of platform upgrade and drilling services on the Dunlin field on the UK continental shelf. The assignment includes both rig restoration and upgrading of the drilling facilities as well as a subsequent three to four year platform drilling and rig maintenance program.

Fairfield Energy has recently acquired the Dunlin field, and this is their first operation as an operator on the UK continental shelf.

Commenting on the contract, Seawell's Chief Executive Officer Alf Ragnar Løvdal said: "The award confirms our position as one of the leading platform drilling contractors and strengthen our ability to service our UK clients. We are seeking to provide our clients with a top team in order for them to upgrade their existing platforms and perform safe operations in drilling and well intervention".

The contract award is subject to final Board approval by both parties.


Contact:
Lars Bethuelsen, Chief Financial Officer, Seawell Management AS
+47 51 30 99 00


Seawell is a company providing well services within platform drilling, engineering and well intervention. The services include production drilling and well maintenance services on several platforms, concept studies, drilling facility upgrading and modifications as well as mechanical and electrical wireline services. The company employs approximately 1800 skilled and experienced employees and operates offices in Stavanger, Bergen, Aberdeen, Newcastle, Esbjerg and Kristiansand.

SEAW – Seawell Ltd er registrert på OTC – listen

Company news

2007-10-03 16:42:43

Seawell Ltd. er registrert på OTC - listen f.o.m. 4. oktober 2007. Ticker: SEAW. ISIN: BMG795601019. Antall aksjer utstedt av selskapet er 100.000.050. Emisjonsverdien på selskapet er NOK 1.375.000.687 basert på siste emisjonskurs i september 2007 på kurs NOK 13,75. Pålydende per aksje er USD 2,00. Selskapet har inngått avtale om bruk av meldingssystemet og vil kunne benytte dette fra og med 4. oktober 2007.

Seadrill has decided to establish a separate entity for its well services activities with the ambition to create a large international well services company, named Seawell Limited.

Seawell`s core business is platform drilling, engineering and well intervention services. The Platform Drilling and Engineering Division delivers production drilling and well maintenance services on 21 platforms, as well as drilling facility upgrading and modifications while the Well Intervention Division offers multi-skilled personnel and state-of-the art equipment packages for mechanical and electrical wireline services. The business employs approximately 1,800 skilled and experienced employees.

In order to set up Seawell Limited on a stand-alone basis, new equity has been raised through a private placement of a total of 20 million shares to a subscription price of NOK13.75 per share. Gross proceeds from the equity issue amounted to NOK275 million (equivalent to approximately US$49.8 million). The total number of shares outstanding after the issue will be 100 million. Following the private placement, Seadrill will remain an 80 percent shareholder in Seawell Limited.