C.A.T. oil AG

C.A.T. oil AG enters into strategic partnership with Russian oil producer RussNeft

- RussNeft among Russia┬ĺs top 10 oil producers - Third strategic partnership in the Russian oil and gas market

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September 29, 2006 - Austria-based C.A.T. oil AG (O2C, ISIN: AT0000A00Y78), one of the leading providers of oil and gas field services in Russia and Kazakhstan, has signed a strategic partnership agreement with RussNeft OAO NK, one of Russia┬ĺs 10 biggest oil producers. This represents the third strategic partnership the company has entered since the successful IPO on the Frankfurt Stock Exchange in May 2006.

RussNeft, one of Russia┬ĺs younger oil groups, was created in 2002 by the former President of SLAVNEFT an oil company which has meanwhile been taken over by Anglo-Russian TNK-BP. Since its formation four years ago, RussNeft has grown to become one of Russia┬ĺs major oil producers. The vertically integrated group with high growth potential presently owns 23 producing entities, 4 oil refineries and an extensive sales network for oil and oil products. The company has a current annual output of around 119 million barrels of crude oil. RussNeft has access to proven oil reserves of 4.5 billion barrels and reported a 2005 net profit of US$ 150 million on sales of US$ 2.4 billion. The company has announced plans for an IPO in 2007.

For some years now, C.A.T. oil has already been working at RussNeft production sites in the western half of Russia and West Siberia. C.A.T. oil will render services to the production entities of RussNeft in a long term program to support its continued expansion. The company is officially aiming to boost production to between 140 and 175 million barrels per year over the next two to three years using C.A.T. oil AG┬ĺs experience and cutting edge technologies.

"After entering into two partnerships with Gazprom subsidiaries OOO Burgaz and Gazprom-Neft, I am delighted to intensify the existing collaboration with our rapidly growing business partner, RussNeft. Since its formation, RussNeft looks back on an impressive expansion story and has massive potential for the future. RussNeft┬ĺs faith in our services underscores its trust in our technologies and expertise," says Manfred Kastner, Chief Executive Officer of C.A.T. oil AG. 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┬ĺs 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 Baden near Vienna and employed 2,230 people at the end of 2005, 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.de

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
B├Ârsen:  Frankfurter Wertpapierb├Ârse / official dealing

Weitere Meldungen: C.A.T. oil AG

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