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Eurasia Drilling Company Unveils its First Drilling Rig Manufactured In-House

Eurasia Drilling Company Limited ("EDC" or the "Company" - LSE: EDCL) unveiled its first in-house manufactured drilling rig at a special event held in Kaliningrad, Russia on March 25, 2010. The BU 6500/450 "YERMAK" rig, a proprietary design intended for use by EDC in its onshore
drilling business, was presented to a group of invited guests made up of EDC's
customers, industry experts, investment analysts and members of the media.

The main partners of EDC in this project were LUKOIL-Kaliningradmorneft, on
whose construction plant the rig was built, and the US manufacturer of drilling
equipment LeTourneau Technologies, Inc.

BU 6500/450 "YERMAK" is the first Russian made drilling unit that moves using a
specialized hydraulic walking system. In contrast to systems utilizing rails or
guideways, the walking system enables the rig to move not only along a straight
line, but to also move sideways and rotate 360 degrees about its axis. The rig
is able to move a distance of up to 160 meters from its fixed mud block (mud
tanks/mixing/cleaning ) heating and power generation modules. Allowing these
components to remain stationary enhances operational efficiency and safety.
During the presentation, guests were able to view the drilling rig, get
familiarized with its unique features and witness a demonstration of the moving
system.

The "YERMAK" rig is a multipurpose, modular drilling unit, designed for both
development and exploration drilling of single location or clustered oil and gas
wells. The rig's hoisting capacity is 450 tonnes (1 million pounds), and it is
rated to drill wells with depths up to 6,500 meters (21,500 feet) using 5"
tools. The primary powered subsystems, provided by LeTourneau Technologies,
include 2,000 HP drawworks, three 1,600 HP triplex mud pumps, 450 tonne capacity
top drive and 1,150 HP rotary table.

BU 6500/450 "YERMAK" is fully adapted to meet all possible Russian and CIS
operational conditions, including Arctic weather conditions and unsteady soils.
Modular components are designed for fast rig-up, and sized for ease of
transportability by rail, inland waterway and road systems available in EDC's
areas of operation. It is designed and manufactured to meet API 4F requirements
and bears API 4F monogram.

29 March 2010
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123298 Moscow, Russia

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