C.A.T. oil AG

EANS-News: C.A.T. oil AG
C.A.T. oil AG receives additional sidetrack drilling order by LUKOIL

- Increase of 2009 order book volume by about EUR 10 million to approx. EUR 198 million - Further step towards C.A.T. oilÂ’s target to increase market position in sidetrack drilling services to more than 20%

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Wien (euro adhoc) - May 14, 2009 - C.A.T. oil AG (O2C, ISIN: AT0000A00Y78), one of the leading providers of oil and gasfield services in Russia and Kazakhstan, through its operating subsidiary CATOBNEFT, received an additional sidetrack drilling order for Fiscal Year 2009 by LUKOIL. The new service assignment is worth about EUR 10 million (assuming a Rouble-to-Euro exchange rate of 48), thereby increasing C.A.T. oil´s 2009 order book volume to approx. EUR 198 million. The sidetrack drilling jobs will be carried out in the Kogalym area and will lead to an allocation of two of C.A.T. oil´s sidetrack drilling rigs to LUKOIL´s well sites in West Siberia, thereby strengthening C.A.T. oil´s presence in this region.

Manfred Kastner, CEO of C.A.T. oil AG, said: "In light of the currently chal-lenging market environment we are proud of having received this additional order by LUKOIL which has been our client for more than 15 years and is Russia´s largest oil producer. This contract demonstrates yet again our strong customer relationship, as well as our operating performance. Thanks to our state of the art sidetrack drilling rigs with an average age of less than three years we are able to provide efficient services which are even more important in economically difficult times. We see our Company well prepared to work on our 2009 objective which is to increase our market share in sidetrack drilling in the Russian market to more than 20%."

Over the past few years C.A.T. oil has significantly expanded its sidetrack drilling capacities from two rigs in 2006 to ten in 2007 and 14 by the end of 2008. Sidetrack drilling has been growth driver number one in 2008 and sidetrack drilling job counts went up by 165.7% YoY, making C.A.T. oil the fastest growing company in this business in Russia.


Press contact: A&B Financial Dynamics

Carolin Amann                                          Lucie Kimmich
Tel.: +49 (0)69 92037-132                        Tel.: +49 (0)69 92037-183
Email: c.amann@abfd.de                            Email: l.kimmich@abfd.de

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 3,621 people at the end of 2008, 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:
Lucie Kimmich
Tel.: +49 (69) 920 37-183
E-Mail: l.kimmich@abfd.de

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

Weitere Meldungen: C.A.T. oil AG

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