EANS-News: C.A.T. oil enters 2012 with strong order book of EUR 267 million
13.03.2012 – 09:02
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Company Information Subtitle: Top 5 customers placed new orders worth EUR 267 million Current volume surpasses prior-year order book by 20% First orders for new high-class conventional drilling rigs included Additional tenders expected as conventional drilling expansion continues Vienna, 13 March 2012 (euro adhoc) - C.A.T. oil AG (O2C, ISIN: AT0000A00Y78), one of the leading providers of oil and gas field services in Russia and Kazakhstan, has been successful in the 2012 tendering campaign: as of 1 March 2012, the Company´s order book peaked at EUR 267 million (based on a rouble-to-euro exchange rate of 40). Compared to the same period last year this represents an increase of 20%. In addition to the 2012 tenders C.A.T. oil already received first assignments for 2013. The total volume of orders has surpassed the EUR 300 million mark, currently amounting to EUR 306 million for 2012 and 2013. Manfred Kastner, CEO of C.A.T. oil, said: "We have pro-actively entered the 2012 tendering campaign once again targeting at a new record high of order intakes. The current level of our 2012 order book represents an impressive increase of 20% over the last year and clearly demonstrates our strong reputation in the market for delivering high-class services based on state-of-the-art technology. We experienced a particularly strong demand for our new conventional drilling rigs which once again confirmed our decision to enter into this attractive market segment." Historically, at the beginning of a year C.A.T. oil has been able to book in advance approximately 80% of each year´s annual orders. As part of its business expansion, C.A.T. oil started to market another six new high-class conventional drilling rigs which have already been delivered and prepared for operations. C.A.T. oil is therefore very well positioned to expand its order book volume in the course of the year and anticipates additional intakes. "We are very proud of the results of the tendering campaign laying the basis for a successful financial year 2012. With our new conventional drilling rigs being marketed at premium to the current market rates and further capacities on-hand we are well positioned for additional profitable growth." Manfred Kastner said. On April 30, 2012 C.A.T. oil will publish its results for Fiscal Year 2011 and provide an outlook for Fiscal Year 2012. www.catoilag.com Press contact: FTI Consulting Carolin Amann Phone: +49 (0)69 92037-132 Email: carolin.amann@fticonsulting.com Thomas M. Krammer Phone: +49 (0)69 92037-183 Email: thomas.krammer@fticonsulting.com About C.A.T. oil AG: C.A.T. oil AG is one of the leading providers of oil and gas field services in Russia and Kazakhstan and is listed on the Frankfurt Stock Exchange (SDAX). C.A.T. oil offers a wide spectrum of services to increase the lifecycle of an oil field or to make unexploited oil fields accessible. The Company´s growth is driven by the following factors: Existing oil fields need to be stimulated due to shrinking oil and gas resources in order to optimize capacities. Simultaneously, idle wells are reactivated or made accessible through new methods in order to deploy wells to their maximum. Additionally, C.A.T. oil will establish conventional drilling as third core service which allows to activate completely unexploited oil and gas sources. Since its foundation in 1991 in Celle, Germany, C.A.T. oil has built up a leading hydraulic fracturing services business in Russia and Kazakhstan. Following its IPO in 2006 the Company has invested more than EUR 250 million in additional services and capacities: sidetrack drilling has become the Company´s second core business. In November 2010, the Company introduced a comprehensive investment program with a volume of EUR 150 million which will mainly be used to set up conventional drilling as part of the Company´s service portfolio. Furthermore, C.A.T. oil offers coiled tubing, well work-over, cementing and seismic services. Due to the recent investments C.A.T. oil´s fleets and rigs are state-of-the-art and therefore allow for time-efficient and effective deployment. C.A.T. oil´s customer base includes the leading Russian and Kazakh oil and gas producers amongst them Gazprom, KazMunaiGaz, LUKOIL, Rosneft and TNK-BP. C.A.T. oil has a long-standing relationship with these customers and has been a reliable service provider since its market entrance in the early nineties. The Company has its headquarters in Vienna. From January to December 2011, the Company employed an average of 2,360 people, most of which are based in Russia and Kazakhstan. Further inquiry note: Thomas M. Krammer Tel: +49(0)69-92037-183 Email: thomas.krammer@fticonsulting.com end of announcement euro adhoc -------------------------------------------------------------------------------- company: C.A.T. oil AG Kärtner Ring 11-13 A-A-1010 Wien phone: +43(0) 1 535 23 20 - 0 FAX: +43(0) 1 535 23 20 - 20 mail: ir@catoilag.com WWW: http://www.catoilag.com sector: Oil & Gas - Upstream activities ISIN: AT0000A00Y78 indexes: SDAX, Classic All Share, Prime All Share stockmarkets: regulated dealing/prime standard: Frankfurt language: English