Moscow, December 02, 2014

Transaction in Own Securities

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Eurasia Drilling Company Limited ("EDC" or the "Company" - LSE: EDCL), the leading onshore and offshore drilling service provider in the CIS, announced today that on November 26 and November 27, 2014 a subsidiary of the Company purchased 6,000 of the Company's Global Depositary Receipts ("GDRs") at the average price of USD 20.74 per GDR. One GDR represents one ordinary share in EDC. The number of repurchased GDRs constitutes approximately 0.004% of the Company's issued and outstanding shares.

The GDRs were repurchased under the Company's Share Repurchase Programmes previously announced on February 20 and September 24, 2014. In total 2,026,145 GDRs were repurchased since the start of the Programmes, which constitutes approximately 1.4% of the Company's issued and outstanding shares.

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EDC is the largest provider of onshore drilling services in Russia, as measured by the number of metres drilled, providing onshore integrated well construction services and workover services.  The Company also provides offshore drilling services in the Caspian Sea and is the largest provider of such services in the sectors where it operates based on the number of jack-up drilling rigs. 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. In addition, the Company provides onshore drilling services in Iraq. The Company is traded on the London Stock Exchange under the symbol "EDCL".

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For further information, please contact:

Tom O'Gallagher, Marketing and Investor Relations
Evgeniya Bitsenko, Investor Relations
+44 (0) 207 717 9707
investors.relations@eurasiadrilling.com

Hudson Sandler
Andrew Hayes/ Maria Ignatova 
+44 (0)20 7796 4133

December 2, 2014

 

­­­­­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: 20 January 2015: Announcement of proposed merger and intention to de-list GDRs