Moscow, June 03, 2014

Fitch Ratings Revised EDC Outlook to Positive at 'BB'

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Eurasia Drilling Company Limited ("EDC" or the "Company" - LSE: EDCL) the leading onshore & offshore drilling service provider in the CIS, announces that the global ratings agency Fitch Ratings ("Fitch") revised EDC's Outlook to Positive from Stable and affirmed its Long-term foreign currency Issuer Default Ratings (IDR) at 'BB'. 

Mr. W. Richard Anderson, EDC's Chief Financial Officer,commented,

"We are very pleased that Fitch Ratings revised the Company's Outlook from Stable to Positive. It reflects our solid financials sustained by robust policies and our leading market position & future prospects."

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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

June 3, 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.

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