Sale of Eurasia Drilling Company Limited shares in the form of GDRs

Января 28, 2011

Alexander Djaparidze and Commonwealth Trust Company (on behalf of the Patrimony 2010 Trust, of which Mr. Djaparidze is the sole beneficiary) announce that they have today sold 8,000,000 shares of Eurasia Drilling Company Limited in the form of GDRs at a price of USD 30.00 per GDR in an accelerated bookbuild offering managed by Credit Suisse Securities (Europe) Limited and Goldman Sachs International.

Mr. Djaparidze and the Patrimony 2010 Trust (acting through Commonwealth Trust Company) have entered into lock-up agreements under which they have agreed not to dispose of any further holdings of Eurasia Drilling Company Limited shares or GDRs for a period of 90 days from today.