EANS-Adhoc: Weatherford Announces SIX Swiss Exchange Approval Of Request For Extension To Publish Half-year Financials

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announcement.
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Extension Request Half-year Financials

26.09.2012

GENEVA, Sept. 25, 2012 -- Weatherford International Ltd. (NYSE /
Euronext Paris / SIX: WFT) is pleased to announce that the SIX Swiss
Exchange Ltd. has granted Weatherford's request to extend the due
date for publishing its half-year report for the first half of 2012
(the "Interim Report") from September 30, 2012 until November 30,
2012. Weatherford announced on July 24, 2012 that it was reporting
second quarter results on a pre-tax basis due to its previously
announced and unresolved material weakness in its internal control
over financial reporting for income taxes.

(Logo: http://photos.prnewswire.com/prnh/19990308/WEATHERFORDLOGO)

Weatherford formally requested an extension of the September 30
deadline for filing the Interim Report to give the company time to
complete the announced additional tax accounting procedures, complete
the restatement of prior period results and publish its second
quarter 2012 financial results.

The following is an excerpt from the SIX approval of the requested
extension:

"I. The postponement of the publication of the half-year report 2012
of Weatherford International Ltd. and of the submission of such
report to SIX Exchange Regulation until 30 November 2012, at latest,
is granted under the following imposition and conditions:

a. SIX Swiss Exchange Ltd. reserves the right to suspend the trade
with the securities of Weatherford International Ltd. if the
half-year report 2012 is not published until 30 November 2012.

b. Weatherford International Ltd. has to publish a notice according
to the provisions governing ad hoc publicity (Art. 53 Listing Rules
in conjunction with the Directive on Ad hoc Publicity) regarding the
present decision until 25 September 2012. The notice has to contain
the full text of section I of the present decision and the reasons
for the postponement of the date of the publication of the half-year
report 2012.

c. Weatherford International Ltd. has to publish a notice according
to the provisions governing ad hoc publicity (Art. 53 Listing Rules
in conjunction with the Directive on Ad hoc Publicity) in regard to
the financial results for the third quarter 2012. The media release
has to contain the same financial information as was published for
the second quarter 2012 by the media release dated 24 July 2012.
Additionally, such required notice has to contain the following
financial data in regard to the first half-year 2012: income
statement including all line items according to the US GAAP format
down to the result "income before income taxes" (including costs and
expenses as well as other expenses); pre-tax information regarding
"other comprehensive income" (e.g. foreign currency translation
adjustments): information regarding the goodwill; information
regarding "financial instruments and derivatives"; information
regarding "segment information" and in regard to "disputes,
litigation and contingencies". Alternatively, Weatherford is
permitted to provide the additional financial data regarding the nine
months period ended 30 September 2012. Weatherford International Ltd.
has to publish such notice as soon as this information is available."

This postponement follows previously announced agreed extensions of
Weatherford's due date for providing its final second quarter results
to its lenders and debtholders.

As Weatherford has previously disclosed, Weatherford is endeavoring
to restate prior period financials and file full second quarter
results, including filing its quarterly report on Form 10-Q for the
period ended June 30, 2012, within the extended November due date, as
well as third quarter filings. However, its ability to do so will
depend on the results of additional tax accounting procedures and
procedure improvements, and Weatherford cannot provide assurances
that it will be able to achieve the due date.

Weatherford International Ltd. makes available free of charge on its
website, its Annual Report on Form 10-K, Quarterly Reports on Form
10-Q, Current Reports on Form 8-K, reports filed pursuant to Section
16 of the U.S. Securities Exchange Act of 1934 and amendments to
those reports filed with or furnished to the SEC as soon as
reasonably practicable after Weatherford International Ltd.
electronically files these documents with, or furnishes them to, the
SEC. These documents are posted on Weatherford International Ltd.'s
website at www.weatherford.com — under "Investor Relations." The SEC
also maintains a website that contains reports, proxy statements and
other information regarding issuers that file electronically with the
SEC. These materials may be obtained electronically by accessing the
SEC's home page at http://www.sec.gov.

Copies of the above referenced information will also be made
available, free of charge, by calling or upon written request to:

Weatherford International Ltd.
Investor Relations
4-6 Rue Jean-Francois Bartholoni
1204 Geneva, Switzerland

Further inquiry note:
Contacts:
John H. Briscoe +1.713.836.4610
Senior Vice President and Chief Financial Officer

Karen David-Green +1.713.836.7430
Vice President - Investor Relations

end of announcement euro adhoc
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issuer: Weatherford International Ltd.
Rue Jean-Francois Bartholoni 4-6
CH-1204 Geneva
phone: +41.22.816.1500
FAX: +41.22.816.1599
mail: karen.david-green@weatherford.com
WWW: http://www.weatherford.com
sector: Oil & Gas - Upstream activities
ISIN: CH0038838394
indexes:
stockmarkets: Main Standard: SIX Swiss Exchange, stock market: New York, Euronext
Paris
language: English