Technical Uptime - Sevan Driller

Technical Uptime for Sevan Driller in March 2011 was 95%.

Technical Uptime as indicated is based on a preliminary 'best estimate'. Subsequent adjustments may occur, but is not expected to be significant.

The information in this announcement is subject to the disclosure requirements of the Norwegian Securities Trading Act section 5-12 and/or the Oslo Børs - Continuing Obligations.

Sevan Drilling ASA is an international offshore drilling contractor specializing in the ultra deepwater segment. Sevan Drilling ASA has applied for a listing on Oslo Børs.

For further information, please contact:

Jan Erik Tveteraas, CEO, Sevan Drilling ASA (Media)
+47 37404000 office
+47 95214925 mobile

Jon H. Wilmann, CFO, Sevan Drilling ASA (Analysts)
+47 64001847 office
+47 90560406 mobile

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