General meeting

SEAW - Minutes from the Annual General Meeting

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