ZUG, Switzerland, Aug. 31, 2017 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) announced today that Jeremy Thigpen,
President and Chief Executive Officer, will present at the Barclays CEO Energy-Power Conference in New York on Thursday, September
7, 2017 at 9:05 a.m. EDT.
A live webcast of the presentation will be available in listen-only mode and can be accessed on the Investor
Relations home page at: www.deepwater.com. An archived replay of the presentation will be available on the website for
approximately 30 days.
About Transocean
Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. The
Company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater
and harsh environment drilling services, and believes that it operates one of the most versatile offshore drilling fleets in the
world.
Transocean owns or has partial ownership interests in, and operates a fleet of 44 mobile offshore drilling units
consisting of 30 ultra-deepwater floaters, seven harsh environment floaters, three deepwater floaters and four midwater floaters.
In addition, Transocean has four ultra-deepwater drillships under construction or under contract to be constructed. The Company
also operates two high-specification jackups that were under drilling contracts when the rigs were sold, and the Company
continues to operate these jackups until completion or novation of the drilling contracts.
Forward-Looking Statements
Statements regarding the Offer, as well as any other statements that are not historical facts, may be
forward-looking statements that involve certain risks, uncertainties and assumptions. These forward-looking statements include, but
are not limited to, estimated duration of customer contracts; contract dayrate amounts; future contract commencement dates and
locations; planned shipyard projects; timing of Transocean’s newbuild deliveries; operating hazards and delays; risks associated
with international operations; actions by customers and other third parties; the future prices of oil and gas; the intention to
scrap certain drilling rigs; the expected timing and likelihood of the completion of the proposed acquisition of Songa Offshore SE
(the “Transaction”), including the timing, receipt and terms and conditions of any required governmental and regulatory approvals
of the Transaction that could reduce anticipated benefits or cause the parties to abandon the Transaction; the occurrence of any
event, change or other circumstances that could give rise to the termination of the transaction agreement for the Transaction; the
ability to successfully complete the Transaction, including the related exchange offers; regulatory or other limitations imposed as
a result of the Transaction; the success of the business following completion of the Transaction; the ability to successfully
integrate the Transocean and Songa businesses; the possibility that Transocean’s shareholders may not approve certain matters that
are conditions to the Transaction or that the requisite number of Songa shares may not be exchanged in the public offer; the risk
that the parties may not be able to satisfy the conditions to closing of the Transaction in a timely manner or at all; risks
related to disruption of management time from ongoing business operations due to the Transaction; the risk that the announcement or
completion of the Transaction could have adverse effects on the market price of Transocean’s or Songa’s shares or the ability of
Transocean or Songa to retain customers, retain or hire key personnel, maintain relationships with their respective suppliers and
customers, and on their operating results and businesses generally; the risk that Transocean may be unable to achieve expected
synergies from the Transaction or that it may take longer or be more costly than expected to achieve those synergies; and other
factors including those and other risks discussed in Transocean’s most recent Annual Report on Form 10-K for the year ended
December 31, 2016, and in Transocean’s other filings with the SEC, which are available free of charge on the SEC's website at:
www.sec.gov, and in Songa’s annual and quarterly financial reports made publicly available. All
forward-looking statements included in this press release are based on information available to Transocean as of the date of this
press release and current expectations, forecasts and assumptions. Forward-looking statements involve risks and uncertainties which
could cause actual results to differ materially from those anticipated. These risks and uncertainties include the risk that the
Offer may not close for any reason, including the risk that the requisite number of Songa Offshore shares may not be tendered;
difficulties that may be encountered in integrating the combined businesses and realizing the potential synergies of the proposed
combination; and the other risks and uncertainties faced by each company, in the case of Transocean, as reported in its most recent
Form 10-K, Forms 10-Q and other filings with the U.S. Securities and Exchange Commission. No forward-looking statements in this
press release should be relied upon as representing Transocean’s views or expectations as of any subsequent date and Transocean
does not undertake any obligation to revise or update any such forward-looking statement to reflect events or circumstances that
may arise after the statement was made.
Additional Information
In connection with the Transaction, Transocean will file with the U.S. Securities and Exchange Commission (the
“SEC”) a proxy statement (the “Proxy Statement”) and Transocean and Transocean, Inc. (“TINC”), will file a Registration Statement
on Form S-4 (the “Registration Statement”) containing a prospectus with respect to the shares and bonds to be issued in the
Transaction and the related exchange offers (the “Prospectus”). When available, Transocean will mail the Proxy Statement to its
shareholders in connection with the vote to approve certain matters in connection with the Transaction and will distribute the
Prospectus to certain Songa Offshore security holders in the United States in connection with the Transaction and related exchange
offers contemplated by the transaction agreement. Transocean and TINC are also expected to file an offer document with the Oslo
Stock Exchange and the Financial Supervisory Authority of Norway (the “Norwegian FSA”) pursuant to Chapter 6 and Chapter 7 of the
Norwegian Securities Trading Act.
INVESTORS AND SECURITYHOLDERS ARE URGED TO READ CAREFULLY THE DEFINITIVE PROXY STATEMENT AND/OR PROSPECTUS
REGARDING THE TRANSACTION IN ITS/THEIR ENTIRETY WHEN THEY BECOME AVAILABLE (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) OR ANY
DOCUMENTS WHICH ARE INCORPORATED BY REFERENCE IN THE DEFINITIVE PROXY STATEMENT OR PROSPECTUS, BECAUSE THEY WILL CONTAIN IMPORTANT
INFORMATION ABOUT THE TRANSACTION. You may obtain, free of charge, copies of the definitive Proxy Statement, Prospectus and
Registration Statement, when available, and other relevant documents filed by Transocean with the SEC, at the SEC’s website at:
www.sec.gov. In addition, shareholders may obtain free copies of the Proxy Statement and
Prospectus and other relevant documents filed by Transocean and TINC with the SEC from Transocean’s website at: www.deepwater.com.
This communication does not constitute an offer to buy or exchange, or the solicitation of an offer to sell or
exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would
be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This communication is not a
substitute for any prospectus, proxy statement or any other document that Transocean and TINC may file with the SEC in connection
with the Transaction. The final terms and further provisions regarding the public offer will be disclosed in the offer document
after the publication has been approved by the Norwegian FSA and in documents that will be filed by Transocean and TINC with the
SEC. No money, securities or other consideration is being solicited, and, if sent in response to the information contained herein,
will not be accepted.
No offering of securities shall be made except by means of a prospectus meeting the requirements of the U.S.
Securities Act of 1933, as amended, and any applicable European and Norwegian regulations. The transaction and distribution of this
document may be restricted by law in certain jurisdictions and persons into whose possession any document or other information
referred to herein should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions
may constitute a violation of the securities laws of any such jurisdiction. No offering of securities will be made directly or
indirectly, in or into any jurisdiction where to do so would be inconsistent with the laws of such jurisdiction.
Participants in the Solicitation
Each of Transocean, TINC, Songa Offshore and their respective directors and executive officers and other members of
management and employees, may be deemed to be participants in the solicitation of proxies from Transocean’ shareholders with
respect to the approvals required to complete the Transaction and the solicitation of acceptances for the Offer. More detailed
information regarding the identity of these potential participants, and any direct or indirect interests they may have in the
Transaction, by security holdings or otherwise, will be set forth in the Proxy Statement and Prospectus when they are filed with
the SEC. Information regarding Transocean’s directors and executive officers is set forth in the definitive proxy statement on
Schedule 14A filed by Transocean with the SEC on March 16, 2017, and in the Annual Report on Form 10-K filed by Transocean with the
SEC on March 7, 2017. Additional information regarding the interests of participants in the solicitation of proxies in respect of
the extraordinary general meeting and the Offer will be included in the Proxy Statement to be filed with the SEC. These documents
are available to shareholders free of charge from the SEC’s website at: www.sec.gov and from the investor relations section of Transocean’s website at: www.deepwater.com.
Additional information about Transocean Ltd. can be found at www.deepwater.com.
Analyst Contacts:
Bradley Alexander
+1 713-232-7515
Diane Vento
+1 713-232-8015
Media Contact:
Pam Easton
+1 713-232-7647