Eurasia Drilling : Third Extension of Merger Long Stop Date

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29 MAY 2015

EURASIA DRILLING COMPANY LIMITED

UPDATE ON MERGER

Eurasia Drilling Company Limited (the "Company") announces that Schlumberger B.V. ("SLB") and the Company continue to wait for a written final confirmation from the Russian Federal Anti-Monopoly Service and the Government Commission on Monitoring Foreign Investment in relation to the proposed merger between the Company and EDC Acquisition Company Limited and the related transaction with SLB. In light of this, the parties to the proposed transaction have agreed to further extend the long-stop date for completion of the transaction from 31 May 2015 to 30 Jun 2015.

The Company will make a further announcement regarding the expected timing of the completion of the transaction in due course .

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Enquiries:

Eurasia Drilling Company Limited
Tom O'Gallagher, Marketing and Investor Relations
Evgeniya Bitsenko, Investor Relations
[phone]
[e-mail]

Hudson Sander (media enquiries for the Company)
Andrew Hayes / Elena Garside
[phone]

XENON Capital Partners LLC
Natasha Tsukanova, Managing Director
Andrey Bulanov, Vice President
+ 7 495 644 00 10

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