Regulatory News

News Release

EDC Announces Dividend of USD 0.70 per Share

MOSCOW, December 17, 2012 - Eurasia Drilling Company Limited ("EDC" or the "Company" - LSE: EDCL), the leading onshore & offshore drilling service provider in the CIS, announced today that it will pay a dividend on January 17, 2013 of USD 0.70 per share to shareholders of record as of December 31, 2012. The dividend was declared by the Board of Directors of EDC on December 12, 2012.

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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

Hudson Sandler

Andrew Hayes/ Maria Ignatova

+44 (0)20 7796 4133 

December 17, 2012

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.