Weatherford International Ltd.

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

  ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
  distribution. The issuer is solely responsible for the content of this
Extension Request Half-year Financials


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. 


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 — 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

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:
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 

issuer:      Weatherford International Ltd.
             Rue Jean-Francois Bartholoni 4-6
             CH-1204 Geneva
phone:       +41.22.816.1500
FAX:         +41.22.816.1599
sector:      Oil & Gas - Upstream activities
ISIN:        CH0038838394
stockmarkets: Main Standard: SIX Swiss Exchange, stock market: New York, Euronext
language:   English

Weitere Meldungen: Weatherford International Ltd.

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