EDC Makes Key Management Additions

Eurasia Drilling Company Limited announced additions to its executive leadership team, effective immediately.

Murat Sampiev has been appointed Chief Operating Officer of EDC.

Mr. Sampiev has extensive management and operational experience with over 25 years in the oil and oilfield services industries. Prior to joining EDC, he was Senior Vice President of the Drilling Services Group at Schlumberger Russia, starting from 2009. Before joining the Schlumberger Drilling Group, Mr. Sampiev was employed at PetroAlliance Service Company Ltd. (PetroAlliance) in several key positions, including President since 2007 and as a member of the PetroAlliance Board of Directors. Prior his experience with PetroAlliance, he served as Deputy General Director of Belie Nochi Joint Venture and was Head of Central Engineering Department at Varieganneftegas JSC. Mr. Sampiev graduated from Grozny Oil Institute with a Degree in Comprehensive Mechanization of Field Development. In 2008 he was awarded a Russian Federation Government prize for his contribution to the development of the oil business.

In addition to his position in EDC, Mr. Sampiev has also been appointed as General Director of OOO USK, a Russian subsidiary of the Company.

The Company has also recently supplemented its financial and operational teams, as follows:

Evgeny N. Sazanov has been appointed Vice President, Finance of OOO Burovaya Kompaniya Eurasia (BKE), the main operating entity of the Company's onshore drilling services division. Mr. Sazanov will report to Taleh M. Aleskerov, Senior VP Finance and CFO of BKE.

Mr. Sazanov held a number of positions at Schlumberger subsidiaries, including financial positions in Kazakhstan, France, the UK and Russia. Just prior to joining BKE (from April, 2009 till August, 2009) he served as a Finance Director of the Drilling Services Group, Schlumberger Russia. He also served as Senior VP Finance and Administration and concurrently as Director of the Moscow Branch of PetroAlliance. Mr. Sazanov holds the degree of MA in Economics from Kazakhstan Institute of Management, Economics and Strategic Research (KIMEP) and a degree in Economics and Management from Rudny Industrial Institute in Kazakhstan.

Vladimir R. Kurlishev has been appointed General Director of OOO New Technology Services (NTS), a wholly owned subsidiary of EDC which provides non-core drilling-related services.

Mr. Kurlishev has over 30 year of experience in the oil industry. From 2003, Mr. Kurlishev was employed by PetroAlliance as Head of the Kogalym branch, and in late 2008 he was transferred to Moscow to take the position of PetroAlliance Moscow Branch Director. Prior to joining PetroAlliance, he served as General Director at MEKAMI Neft and StroyInvest companies. Before that, he was employed by Varieganneftegas JSC as Deputy Director of Technical Department. Mr. Kurlishev graduated from Ivano-Frankovskiy Oil and Gas Institute with a Degree in Comprehensive Mechanization of Field Development. In 2002 he was awarded the title of Honourable Fuel-Energy Complex Employee by Russia's Ministry of Energy.

Dr. Alexander Djaparidze, EDC's Chief Executive Officer, commented,
"We are very pleased to have Mr. Sampiev join our management team. Murat is very well known to the Russian oil and gas community having run a significant and highly profitable oil field service business for Schlumberger for many years. It is important to our growth plans for us to be able to attract talented executives of this caliber. We strongly believe that Mr. Sampiev's wide range of expertise in the oilfield service sector will significantly contribute to the Company's growth and development.

In like manner we are delighted that Mr. Sazanov and Mr. Kurlishev have joined us. Our growth plans require seasoned management professionals with the recent international oilfield service experience these two possess."