EANS-Adhoc: SIX SWISS EXCHANGE GRANTS WEATHERFORD INTERNATIONAL LTD. EXTENSION FOR INTERIM REPORT

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Annual Reports/Annual Reports/INTERIM REPORT EXTENSION
29.11.2012

GENEVA, Nov. 28, 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 a limited
extension of the due date for publishing its half-year interim report
for the first half of 2012 until December 17, 2012.

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

As previously announced, Weatherford expects to file an amended Form
10-K for 2011 and an amended Form 10-Q for the first quarter of 2012
to reflect adjustments to prior periods resulting from the company's
thorough review of its historical accounting for income taxes. The
company also expects to file Forms 10-Q for the second and third
quarters of 2012 reflecting these adjustments. The second quarter
10-Q constitutes the interim report required by the SIX.

The company noted in its November 12 earnings release that it had
identified cumulative income tax accounting errors totaling
approximately $150 million related to prior periods. The company's
work to date confirms this number.

Weatherford intends to file these reports as soon as each is complete
and our independent auditors have finalized their audit and review
procedures. Weatherford expects all of these reports to be filed
within the extended due date.

The extension granted by the SIX requires the company to publish the
following text:

|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 17 December 2012, at the latest, is |
| |granted under the following condition: |
| |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 by 29 November 2012 before trading. The notice has |
| |to contain the full text of section I and II of the present decision |
| |and the reasons for postponement of the publication of the half-year |
| |report 2012. |
|II.|In case the half-year report 2012 should not be published by 17 |
| |December 2012, the trading of securities of Weatherford International|
| |Ltd. [on the SIX Stock Exchange] would be suspended effective 18 |
| |December 2012 until publication of the half-year report 2012. |

Weatherford is a Swiss-based, multi-national oilfield service company. It is
one of the largest global providers of innovative mechanical solutions,
technology and services for the drilling and production sectors of the oil and
gas industry. Weatherford operates in over 100 countries and employs over
60,000 people worldwide.

end of ad-hoc-announcement

=====================================================================
=========== Forward-Looking Statements This press release and the
documents referenced herein contain, and the conference call
announced in this release may include, forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of
1995. This includes statements related to future levels of earnings,
revenue, expenses, margins, capital expenditures, changes in working
capital, cash flows, tax expense, effective tax rates and net income,
as well as the prospects for the oilfield service business generally
and our business in particular, as well as statements regarding
timing or content of the financial information that will be filed
with the SEC regarding the current period. Forward-looking statements
also include any statements about the resolution or potential future
resolution of our ongoing remediation of our material weakness in
internal control over financial reporting for income taxes and our
assessment of the degree to which historical remediation efforts have
been successful to date. It is inherently difficult to make
projections or other forward-looking statements in a cyclical
industry and given the current macroeconomic uncertainty. Such
statements are based upon the current beliefs of Weatherford's
management, and are subject to significant risks, assumptions and
uncertainties. These include the company's ability to complete all
processes necessary to the issuance of revised financial statements,
including obtaining an audit opinion from its independent auditors,
the company's inability to design or improve internal controls to
address identified issues; the impact upon operations of legal
compliance matters or internal controls review, improvement and
remediation, including the detection of wrongdoing, improper
activities or circumvention of internal controls; difficulties in
controlling expenses, including costs of legal compliance matters or
internal controls review, improvement and remediation; impact of
changes in management or staff levels, the effect of global
political, economic and market conditions on the company's projected
results; the possibility that the company may be unable to recognize
expected revenues from current and future contracts; the effect of
currency fluctuations on the company's business; the company's
ability to manage its workforce to control costs; the cost and
availability of raw materials, the company's ability to manage its
supply chain and business processes; the company's ability to
commercialize new technology; whether the company can realize
expected benefits from its redomestication of its former Bermuda
parent company; the company's ability to realize expected benefits
from its acquisitions and dispositions; the effect of a downturn in
its industry on the company's carrying value of its goodwill; the
effect of weather conditions on the company's operations; the impact
of oil and natural gas prices and worldwide economic conditions on
drilling activity; the effect of turmoil in the credit markets on the
company's ability to manage risk with interest rate and foreign
exchange swaps; the outcome of pending government investigations,
including the Securities and Exchange Commission's investigation of
the circumstances surrounding the company's material weakness in its
internal control over financial reporting of income taxes; the
outcome of ongoing litigation, including shareholder litigation
related to the company's material weakness in its internal control
over financial reporting of income taxes and its restatement of
historical financial statements; the future level of crude oil and
natural gas prices; demand for our products and services; levels of
pricing for our products and services; utilization rates of our
equipment; the effectiveness of our supply chain; weather-related
disruptions and other operational and non-operational risks that are
detailed in our most recent Form 10-K and other filings with the U.S.
Securities and Exchange Commission. Should one or more of these risks
or uncertainties materialize, or underlying assumptions prove
incorrect, actual results may vary materially from those indicated in
our forward-looking statements. We undertake no obligation to correct
or update any forward-looking statement, whether as a result of new
information, future events, or otherwise, except to the extent
required under federal securities laws.

Further inquiry note:
| |Weatherford International Ltd. | |
| |Investor Relations | |
| |4-6 Rue Jean-Francois Bartholoni | |
| |1204 Geneva, Switzerland | |
| | | |
|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