C.A.T. oil AG

C.A.T. oil signs major contract with Rosneft

• 100% increase in hydraulic fracturing jobs on Yugansk fields in 2008 • Exposure to Russia’s largest oil and gas producer significantly expanded

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cooperations

Vienna (euro adhoc) - November 23, 2007 - C.A.T. oil AG (O2C, ISIN: AT0000A00Y78), one of the leading providers of oil and gasfield services in Russia and Kazakhstan, signed a major contract through its operating subsidiaries CATKoneft and CATOBNEFT with Russia´s largest oil producer Rosneft. The services will be provided for Rosneft´s core production subsidiary Yuganskneftegaz on the challenging Yugansk oil and gas fields. The contract comprises altogether 385 hydraulic fracturing jobs, out of a total of 1,275 tendered by Yuganskneftegaz for the season 2008, thus capturing a 30% market share for this strategically important client.

In March 2007, C.A.T. oil already concluded a comprehensive three-year-contract with Rosneft for 567 hydraulic fracturing jobs to be accomplished until 2009. C.A.T. oil more than doubles its exposure to Rosneft´s large-size fracturing jobs in 2008 compared to 192 jobs to be accomplished for the oil producer in 2007.

With proven oil and gas reserves of 20.1 billion barrels and a production of 1.7 million barrels a day, Rosneft is the largest oil producer in Russia. C.A.T. oil´s operating subsidiary CATKoneft is very familiar with the customer´s fields in Yugansk. It has been operating in this area since 2002 and since then has performed more than 580 fracturing jobs for Yuganskneftegaz.

Due to the specific geological structure of Yugansk fields, fracturing there ismore sophisticated compared to the rest of Russia and thus more profitable for service providers. The Yugansk area´s fracturing job size on average ranges from 70 to 115 tons of proppant used while a typical fracturing job in Russia only requires 40 to 50 tons.

Leonid Mirzoyan, Chief Corporate Finance Officer of C.A.T. oil AG, states: "We are very pleased with the Yuganskneftegaz tender results, which witness C.A.T. oil´s perfect position to defend its sizeable market share in the Russian and Kazakh fracturing markets despite the intensifying competition. An increase of 100% in a backlog of fracturing jobs for this strategically important client underscores the Company´s competitiveness with regard to both quality and price measures. The development fuels our confidence in efficient deployment of the Company´s operating capacity and sustainability of growth beyond 2007."

www.catoilag.com

About C.A.T. oil AG: Austria-based C.A.T. oil AG (O2C, ISIN: AT0000A00Y78) is one of the leading providers of oil- and gasfield services in Russia and Kazakhstan. C.A.T. oil´s core business is hydraulic fracturing, a process which helps to open up oil- and gas-bearing rock formations in order to increase or even enable oil and gas production. The C.A.T. oil crews use state-of-the-art methods and technologies to generate high pressure in the oil or gas reservoirs concerned. This pressure causes cracks to appear in the rock through which oil or gas can be produced in larger quantities from the production well, and hence efficiently boosts extraction, particularly in the case of deposits that are difficult to develop or low-output wells. In addition, hydraulic fracturing can be used to revitalize wells that have previously been idle.

The Company has its headquarters in Vienna and employed an average of 2,875 people in the first half of financial year 2007, most of whom are based in Russia and Kazakhstan. Customers include leading oil and gas producers such as Gazprom, KazMunaiGaz, LUKOIL, Rosneft, and TNK-BP. C.A.T. oil has been listed in the Prime Standard of the Frankfurt Stock Exchange since May 4, 2006, and has been a member of the SDax since September 18, 2006.

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ots Originaltext: C.A.T. oil AG
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
Press contact:
A&B Financial Dynamics
Dr. Lutz Golsch Claudia Werth
Tel.: +49 (0)69 92037-110 Tel.: +49 (0)69 92037-114
Email: l.golsch@abfd.de Email: c.werth@abfd.de

Branche: Oil & Gas - Upstream activities
ISIN:      AT0000A00Y78
WKN:        A0IKWU
Index:    Classic All Share, Prime All Share, SDAX
Börsen:  Börse Frankfurt / regulated dealing