July 17, 2009 - Eurasia Drilling Company Limited ("EDC" or the "Company" - LSE: EDCL) announced today that it purchased 1,076,000 of its Global Depositary Receipts (“GDRs”) at USD 10.75 per GDR on July 16, 2009. The GDRs were repurchased under the Company’s Share Repurchase Program previously announced October 27, 2008 and Extension of Share Repurchase Program previously announced December 18, 2008.

Since October 27, 2008, the Company has repurchased a total of 12,518,254 GDRs under its Repurchase Program. The number of repurchased GDRs constitutes approximately 9.32%  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.

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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

July 17, 2009

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