MOSCOW, October 12, 2011 - Eurasia Drilling Company Limited ("EDC" or the "Company" - LSE: EDCL), the leading onshore and offshore drilling service provider in the CIS, announced today that it purchased 3,000 of its Global Depositary Receipts (“GDRs”) at USD 19.62 per GDR on October 11, 2011. One GDR represents one ordinary share in EDC. The GDRs were repurchased under the Company’s Share Repurchase Program previously announced August 26, 2011.
Since August 26, 2011, the Company has repurchased a total of 108,781 GDRs under its Repurchase Program. The number of repurchased GDRs constitutes approximately 0.07% of the Company’s issued and outstanding shares.
The GDRs repurchased under the Share Repurchase Program will be held by EDC Incentive Plan Limited, a subsidiary of the Company.
***
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
Hudson Sandler
Andrew Hayes/ Maria Ignatova
+44 (0)20 7796 4133
October 12, 2011
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.
