Moscow, March 27, 2010

EDC Unveils its First Drilling Rig Manufactured In-House

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Eurasia Drilling Company Limited ("EDC" or the "Company" - LSE: EDCL) unveiled its first in-house manufactured drilling rig at a special event held in Kaliningrad, Russia on March 25, 2010. The BU 6500/450 "YERMAK" rig, a proprietary design intended for use by EDC in its onshore drilling business, was presented to a group of invited guests made up of EDC's customers, industry experts, investment analysts and members of the media.

The main partners of EDC in this project were LUKOIL-Kaliningradmorneft, on whose construction plant the rig was built, and the US manufacturer of drilling equipment LeTourneau Technologies, Inc.

BU 6500/450 "YERMAK" is the first Russian made drilling unit that moves using a specialized hydraulic walking system. In contrast to systems utilizing rails or guideways, the walking system enables the rig to move not only along a straight line, but to also move sideways and rotate 360 degrees about its axis. The rig is able to move a distance of up to 160 meters from its fixed mud block (mud tanks/mixing/cleaning ) heating and power generation modules. Allowing these components to remain stationary enhances operational efficiency and safety. During the presentation, guests were able to view the drilling rig, get familiarized with its unique features and witness a demonstration of the moving system.

The "YERMAK" rig is a multipurpose, modular drilling unit, designed for both development and exploration drilling of single location or clustered oil and gas wells. The rig's hoisting capacity is 450 tonnes (1 million pounds), and it is rated to drill wells with depths up to 6,500 meters (21,500 feet) using 5" tools. The primary powered subsystems, provided by LeTourneau Technologies, include 2,000 HP drawworks, three 1,600 HP triplex mud pumps, 450 tonne capacity top drive and 1,150 HP rotary table.

BU 6500/450 "YERMAK" is fully adapted to meet all possible Russian and CIS operational conditions, including Arctic weather conditions and unsteady soils. Modular components are designed for fast rig-up, and sized for ease of transportability by rail, inland waterway and road systems available in EDC's areas of operation. It is designed and manufactured to meet API 4F requirements and bears API 4F monogram.

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EDC is the largest independent 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".

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For further information, please contact:

Kim L. Kruschwitz, VP Investor Relations
+44 (0) 207 717 9707
investors.relations@eurasiadrilling.com
March 26, 2010

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: 29 March 2010: Management Share Dealing Notification