Schoeller-Bleckmann Oilfield Equipment AG

euro adhoc: Schoeller-Bleckmann Oilfield Equipment AG
Buybacks / Schoeller-Bleckmann Oilfield Equipment AG: Notification of the intended purchase of own shares of the Company pursuant to section 65 para 1 no. 8 and also para 1a and 1b of the Austrian S

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24.04.2008

AD HOC NEWS

Schoeller-Bleckmann Oilfield Equipment AG: Notification of the intended purchase of own shares of the Company pursuant to section 65 para 1 no. 8 and also para 1a and 1b of the Austrian Stock Corporation Act

Ternitz, April 24, 2008. The Management Board of Schoeller-Bleckmann Oilfield Equipment AG (SBO), listed on the Vienna Stock Exchange, decided to issue a share buyback program. The legal authorization of the repurchase of own shares within the time frame of 30 months was obtained at the Annual General Meeting on April 16, 2008 (published on the SBO website at http://info.sbo.at on April 22, 2008).

In total, up to 1,600,000 shares or 10% of the equity capital can be repurchased at a price not below EUR 1.-- and not above EUR 100.--. The share buyback program will take place between April 24, 2008 and October 9, 2010. The repurchased own shares are used for possible future employee participation schemes or for establishing an option for using the Company's own shares to acquire shareholdings. The Company shall reserve the right to also use the repurchased shares for other purposes that are in line with the authorization granted by the General Meeting. The Company´s own shares are repurchased via the stock exchange.

Any changes as well as the transactions carried out as part of the share buyback programme will be announced on the website of Schoeller-Bleckmann Oilfield Equipment AG under http://info.sbo.at in accordance with the Austrian Stock Corporation Act and the relevant publication directive.

Schoeller-Bleckmann Oilfield Equipment AG is the global market leader in high-precision components for the oilfield service industry. The business focus is on non-magnetic drillstring components for directional drilling. SBO employs a workforce of 1,222 worldwide, thereof 375 in Ternitz/Austria and 603 in North America (including Mexico).

end of announcement                               euro adhoc
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Further inquiry note:

Gernot Bauer, Head of Investor Relations, 
Schoeller-Bleckmann Oilfield Equipment AG, A-2630 Ternitz, Hauptstraße 2,
Tel: +43 2630/315 ext 250, fax: ext 101, E-mail: g.bauer@sbo.co.at

Mick Stempel, Hochegger|Financials, Tel: +43 1/504 69 87 ext 85,
E-mail: m.stempel@hochegger.com

Branche: Oil & Gas - Upstream activities
ISIN: AT0000946652
WKN: 907391
Index: WBI, ATX Prime, ATX
Börsen: Wiener Börse AG / official dealing
Original-Content von: Schoeller-Bleckmann Oilfield Equipment AG, übermittelt durch news aktuell

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