OREANDA-NEWS. Eurasia Drilling Company Limited ("EDC" or the "Company" - LSE: EDCL),the leading onshore and offshore drilling service provider in the CIS, announced today that it has completed the purchase of 50,000 of its Global Depositary Receipts ("GDRs") at an average price of USD 38.95 per GDR. One GDR represents one ordinary share in EDC. The number of repurchased GDRs constitutes approximately 0.03% of the Company's issued and outstanding shares. The GDRs were repurchased under the Company's Share Repurchase Programme previously announced on April 24, 2013 for the purpose of funding its Incentive Compensation Plan which was approved by the Board of Directors of EDC in 2007. The Share Repurchase Program is now complete, as the required amount of GDRs have been purchased.

EDC is the largest provider of onshore drilling services in Russia, as measured by the number of metres drilled, providing onshore integrated well construction services and workover services. The Company also provides offshore drilling services in the Caspian Sea and is the largest provider of such services in the sectors where it operates based on the number of jack-up drilling rigs. 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. In addition, the Company provides onshore drilling services in Iraq. The Company is traded on the London Stock Exchange under the symbol “EDCL”.