Moscow, October 30, 2008

Transaction in Own Securities

Email Page

Eurasia Drilling Company Limited ("EDC" - LSE: EDCL) announced today that through Wednesday, October 29,2008 it has purchased 9,730 of its Global Depositary Receipts ("GDRs") on the London Stock Exchange through its wholly owned subsidiary EDC Incentive Plan Limited ("EIPL") at US$4.98 per GDR via UBS Investment Bank. One GDR represents one ordinary share in EDC. The GDRs will be held by EIPL.

This announcement does not constitute, or form part of, an offer or any solicitation of an offer for securities in any jurisdiction.

***

EDC is the largest provider of onshore drilling services in Russia, as measured by the number of meters drilled, providing onshore integrated well construction services and workover services. In addition, the Company provides offshore drilling services in the Caspian Sea. The Company offers its onshore integrated well construction services and workover services to local and international oil and gas companies primarily in Russia and its offshore drilling services to Russian and international oil and gas companies in the Russian, Kazakh and Turkmen sectors of the Caspian Sea. The Company is traded on the London Stock Exchange under the symbol "EDCL".

***

For further information, please contact:

Kim L. Kruschwitz, VP Investor Relations
+44 (0) 207 717 9707
investors.relations@eurasiadrilling.com

October 30, 2008

Some of the views expressed in this document may constitute "forward looking statements" that involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Next: 30 October 2008: Management Share Dealing Notification