Management Share Dealing Notification

MOSCOW, October 21, 2008 - Eurasia Drilling Company Limited ("EDC" or the "Company" - LSE: EDCL) has been notified that Alexander Djaparidze, Chief Executive Officer of the Company, purchased 9,600 GDRs of the Company, constituting 4,700 GDRs purchased at $ 10.30 per GDR on October 14 and 4,900 GDRs at $ 7.83 per GDR on October 15. 

The Company has also been notified that Alexander Bogachev, President of OOO Burovoya Kompaniya Eurasia (BKE),  the main operating entity of the Company's onshore drilling services division, purchased 6,270 GDRs of the Company, constituting 3,070 GDRs purchased at $ 10.30 per GDR on October 14 and 3,200 GDRs at $ 7.83 per GDR on October 15.  The Company was further notified that Taleh Aleskerov, Sr. Vice President and CFO of BKE, purchased 3,730 GDRs of the Company, constituting 1,830 GDRs purchased at $ 10.30 per GDR on October 14 and 1,900 GDRs at $ 7.83 per GDR on October 15. 

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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".

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For further information, please contact:

Kim L. Kruschwitz, VP Investor Relations

+44 (0) 207 717 9707

investors.relations@eurasiadrilling.com

October 21, 2008