Moscow, February 28, 2011

New Head of Offshore Operations Completion of TRIDENT XX Acquisition from Transocean

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Eurasia Drilling Company Limited ("EDC" or the "Company" - LSE: EDCL) announces that Edward Redd has been appointed Senior Vice President, Offshore Operations of EDC.

Mr. Redd has extensive management and drilling experience with over 31 years in the offshore oilfield services industry. Prior to joining EDC, he was employed by Transocean Ltd. and its forerunners since 1979. Most recently Mr. Redd served as Director of Macondo Recovery Operations for Transocean, followed by an assignment as Director of Assets, floaters. Mr. Redd began his career on rigs working on the rig floor. From there he moved into management and was given assignments of increasing responsibility in various international postings. Past positions include Director of New Builds, assets and Division Manager. His last Division Manager position included the Mediterranean, Black Sea and the Caspian Sea areas.

EDC also announced that it has completed the acquisition of the TRIDENT XX jack-up drilling rig from Transocean for a total consideration of US$ 260 million.

The TRIDENT XX is a Keppel FELS CS Mod V cantilever jack-up capable of operating in water depths to 350 feet and capable of drilling to 26,000 feet. The rig is presently operating in Turkmen waters of the Caspian Sea on a long-term contract with PETRONAS Carigali (Turkmenistan) Sdn Bhd, which runs through 2012.

Alexander Djaparidze, Chief Executive Officer of EDC commented, "The addition of Eddy Redd to our management team demonstrates our commitment to attracting and retaining the finest people in the industry to ensure high quality service delivery to our clients. We are very pleased he has joined the Company. The acquisition of the Trident XX is a milestone on our path to become the market leader in the Caspian offshore drilling market."

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".

For further information, please contact:

Eurasia Drilling Company
Kim L. Kruschwitz, VP Investor Relations
+44 (0) 207 717 9707

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

28 February 2011

Next: 28 February 2011: Letter of intent to acquire Slavneft drilling assets