Sevan Drilling ASA: Sevan Driller Update

Sevan Driller has completed drilling on its present location. Upon unlatching the blow-out preventer ("BOP") a small flow of mud from the well was observed by the remote operating vehicle.

The small flow caused by a leak in the casing packoff did not cause any damage to rig personnel, equipment or environment, and the BOP was latched back to the well head. The packoff was sealed and the well is now secure and there is no more flow of mud from the well.

The incident will result in downtime in the range of 4-5 days for the rig. Sevan Driller is already back in operation.

For further information, please contact:

Scott Kerr, CEO, Sevan Drilling ASA
+47 99283890 mobile

Jon H. Wilmann, CFO, Sevan Drilling ASA
+47 90560406 mobile

About Sevan Drilling:
Sevan Drilling ASA is an international offshore drilling contractor specializing in the ultra deepwater segment. Sevan Drilling ASA is listed on Oslo Børs.

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

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