Transocean Ltd

Transocean Ltd.’s appeal, which disputes US$115 million in tax assessments, is pending in the Rio de Janeiro state Taxpayer’s Council.

In the third quarter of 2006, the Company received tax assessments of US$115 million from the state tax authorities of Rio…

One of Transocean Ltd.’s subsidiaries continues to be involved in an action with respect to a customs matter relating to the Sedco 710 semisubmersible drilling rig.

Prior to the Company’s merger with Sedco Forex, this drilling rig, which was working for…