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C.A.T. oil AG

EANS-News: C.A.T. oil AG
C.A.T. oil AG calls for full transparency

  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
Subtitle: • Management contacted Joma Industrial to obtain clarity on its
• No written documentation of share transfer within majority shareholder
available to date
• CEO Manfred Kastner: „In the interest of all shareholders of C.A.T. oil AG,
our customers and employees we again urge Joma Industrial to promptly disclose
its intentions.“

Mergers - Acquisitions - Takeovers

Vienna, 05 November 2014 - The Management Board of C.A.T. oil AG (O2C, ISIN:
AT0000A00Y78; "the Company")is fully committed to get clarification on the
asserted shareholder change at its major shareholder CAT. Holding and the
mandatory public takeover offer announced by Joma Industrial Source Corp. ("Joma
Industrial") on October 31, 2014. In the interest of all shareholders, customers
and employees the Management Board will take all reasonable steps to avoid
uncertainty about the future direction of the Company.

Manfred Kastner, Chief Executive Officer of C.A.T. oil AG said: "Until now the
intentions by the asserted new major shareholders are in the dark. In the
interest of all shareholders of C.A.T. oil AG, our customers and employees we
again urge Joma Industrial to promptly disclose its intentions."

The Management Board contacted Joma Industrial on October 31, 2014 to request
documentary proof of the asserted acquisition of the 50.25% stake in CAT.
Holding. Furthermore, the Management Board requested, among others, information
about the bidder's intentions, his plans with respect to strategy, management
composition as well as the financing of the announced offer. Until today, these
requests have not been answered by Joma Industrial or its representatives.

The Management Board has furthermore received confirmation by Dr Walter Höft
that the asserted sale of his stake in CAT. Holding was not planned by him. Dr
Höft also stated that he subsequently requested Joma Industrial to provide a
written documentation which proves the transfer of his stake in Skible Holdings
Limited and thus indirectly in CAT. Holding.

In addition, the Management Board has been informed that Joma Industrial is
disputing the interest of Anna Brinkmann, Chief Operating Officer of C.A.T. oil
AG and shareholder of CAT. Holding. Through AB PCO and CAT. GmbH Consultancy
Agency Trade & Co (Cyprus), Anna Brinkmann holds 49.75% in CAT. Holding.
Additionally, she directly holds approx. 11% of the share capital in C.A.T. oil
AG and, therefore, is the Company's largest shareholder. AB PCO has been
informed, that Joma Industrial has filed an action in the District Court of
Nicosia (Cyprus) seeking to dissolve CAT. GmbH Consultancy Agency Trade & Co
(Cyprus). Anna Brinkmann will defend her legal interests by exhausting all legal

Press contact:

FTI Consulting
Carolin Amann
Phone: +49 (0)69 92037-132
Steffi Susan Kim
Phone: +49 (0)69 92037-115
About C.A.T. oil AG

C.A.T. oil AG is one of the leading independent oil and gas field service
contractors in Russia and Kazakhstan and is listed on the Frankfurt Stock
Exchange (SDAX). C.A.T. oil provides a range of high quality services, which
enable oil and gas producers to extend lifecycle of their fields or bring yet
unexploited oil and gas reserves to production.

Since its foundation in 1991 in Celle, Germany, C.A.T. oil has built up a
leading hydraulic fracturing service, a very effective method of well
stimulation by cracking rock formations with pressurized fluids, in Russia and
Kazakhstan. Following its IPO in 2006, the Company developed a second core
service of sidetrack drilling in 2006-08 and has established a strong presence
in Russia's sidetrack drilling market. Sidetrack drilling is a term used to
describe drilling of a new wellbore from the upper section of an existing well.
In 2011-12, the Company launched the next phase of its growth and
diversification strategy and set up high class drilling operations as a third
core service offering. High class drilling is the classical technology of
drilling vertical, inclined and horizontal wells for extraction of oil and gas.
In total, the Company has already invested more than EUR 450 million in growth
and diversification since its IPO in 2006.

Following the successful set up of high class drilling in 2011-12, C.A.T. oil
introduced its new segment reporting in 2013 clustering its activities in "Well
Services" (fracturing, cementing and completion operations) and "Drilling,
Sidetracking and IPM (Integrated Project Management)".

C.A.T. oil's customer base includes the leading Russian and Kazakh oil and gas
producers such as Rosneft, Lukoil, Gazprom Neft, Tomskneft VNK, Slavneft,
Russneft and KazMunaiGaz. The Company has long-standing relationships with these
customers and has been a reliable service provider since its market entrance in
the early nineties.

C.A.T. oil has its headquarters in Vienna. The Company's H1 2014 weighted
average headcount stood at 2,873 people, most of which are based in Russia and

Further inquiry note:
Carolin Amann Phone: +49(0)69-92037-132 Email:
Steffi Susan Kim Phone: +49(0)69-92037-115 Email:

end of announcement                               euro adhoc 

company:     C.A.T. oil AG
             Kärntner Ring 11-13
             A-1010 Wien
phone:       +43(0) 1 535 23 20 - 0
FAX:         +43(0) 1 535 23 20 - 20
sector:      Oil & Gas - Upstream activities
ISIN:        AT0000A00Y78
indexes:     SDAX, Classic All Share, Prime All Share
stockmarkets: regulated dealing/prime standard: Frankfurt 
language:   English

Weitere Meldungen: C.A.T. oil AG

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