Principal Terms for Investment Agreed

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

1 June 2017

EURASIA DRILLING COMPANY LIMITED

PRINCIPAL TERMS FOR INVESTMENT AGREED

Eurasia Drilling Company Limited (the "Company") announces the agreement of principal terms for an investment in the Company by a consortium of the Russian Direct Investment Fund (RDIF), the Russia-Chinа Investment Fund (RCIF, created by RDIF and China Investment Corporation) and leading Middle Eastern co-investors.

Dr. Alexander Djaparidze, EDC's Chief Executive Officer said:

"We are very pleased thatwe have agreed principal terms for an investment in the Company withthese pre-eminent funds. We welcome their recognition of the leading performance and value potential of the Company. We are confident that our new relationship with these prominent investors will be beneficial to all parties."

Further details will be provided upon signing of the transaction documentation.

The person responsible for arranging the release of this announcement on behalf of the Company is Dmitry Shokhin, General Counsel.

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