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Sevan Drilling ASA : Oslo Børs Resolves to Delist Sevan Drilling ASA

Oslo, June 25th, 2015 - The Oslo Børs has resolved to delist the shares in Sevan Drilling ASA with effect as of June 30, 2015. The last day of listing will be June 29, 2015. The resolution is conditional upon the capital decrease in the company being registered as completed in the Norwegian Register of Business after close of trading on June 29, 2015.

The listing of Sevan Drilling Limited is expected to take place June 30, 2015 (also subject to completion of the capital decrease). Reference is made to the announcements of Sevan Drilling ASA of April 23, 2015 and May 15, 2015 for further information.

For further information, please contact:

Scott McReaken, CEO, Sevan Drilling ASA

+47 91194651 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.

Sevan Drilling Limited is an international offshore drilling contractor specializing in the ultra deepwater segment. On May 15, 2015 the Annual General Meeting of Sevan Drilling ASA resolved to move the parent company in the Sevan Drilling Group from Norway to Bermuda through a capital reduction distributing all shares in Sevan Drilling Limited to the Company's shareholders as repayment of paid-in capital (the "Migration"). Sevan Drilling Limited was approved for listing at Oslo Børs May 26, 2015. The migration and listing of Sevan Drilling Limited is expected to take place on or about June 30, 2015.

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

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