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)