C.A.T. oil AG

EANS-News: C.A.T. oil AG
C.A.T. oil wins two hydraulic fracturing tenders with LUKOIL

- 2010 order book increases by EUR 12 million to EUR 239 million - New tenders confirm management’s strategy of attracting more ‘multi-year’ contracts

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Company Information

Subtitle: - 2010 order book increases by EUR 12 million to EUR 239 million - New tenders confirm management’s strategy of attracting more ‘multi-year’ contracts

Vienna (euro adhoc) - 05 July 2010 - 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 announced as the winner of two tenders, through its operating subsidiary CATKoneft, for hydraulic fracturing services in Western Siberia with one of its core customers LUKOIL.

Assuming a new average EUR/RUR exchange rate of 39, the total value of the pending contracts amounts to EUR 55 million over a two and a half year period and results in an increase of the Company´s 2010 order book of EUR 12 million to a total volume of EUR 239 million. In addition, the long-term nature of C.A.T. oil´s business model is underlined by EUR 75 million in orders already contracted for 2011 and 2012, bringing the total order book volume to EUR 314 million until the end of 2012.

Manfred Kastner, CEO of C.A.T. oil AG, said: "The new orders that we have received from LUKOIL confirm the reputation we hold and the expertise we have gained in hydraulic fracturing in the Russian market. It also demonstrates our strong customer relationships, which we will continue to deepen and expand. For the second half of 2010, we expect additional orders to come in through new tenders and successful extensions of the existing contracts."

With contract and tender offers completed for the first half of the fiscal year
2010, one fourth of C.A.T.oil´s hydraulic fracturing operating capacity has been
successfully locked up in multi-year service arrangements. This is consistent
with the management´s strategy of increasing the portion of multi-year contracts
in its overall order book, which will enhance the Company´s visibility of
long-term revenues and earnings.


Press contact:
Carolin Amann                   Lucie Maucher
Tel.: +49 (0)69 92037-132       Tel.: +49 (0)69 92037-183
Email: carolin.amann@fd.com  Email: lucie.maucher@fd.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 abandoned oil fields accessible. The Company´s growth is driven by three significant factors: Existing oil fields need to be stimulated due to shrinking oil and gas resources in order to optimise 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 offers seismic services which help to identify new oil and gas sources.

Since its foundation in 1991 in Celle, Germany, C.A.T. oil has built up a leading hy-draulic fracturing services business in Russia and Kazakhstan. Following its IPO in 2006 the Company has invested more than EUR 200 million in additional services and capacities: sidetrack drilling has become the Company´s second core business. Apart from the services mentioned above, C.A.T.oil´s diversified service portfolio includes coiled tubing, formation evaluation services, well work-over, cementing and seismic services. Due to the recent expansion 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 pro-vider since its market entrance in the early nineties.

The Company has its headquarters in Vienna and employed an average of 2,557 people on 31 March 2010, most of whom are based in Russia and Kazakhstan. The Company´s current order book for 2010 amounts to approximately EUR 239 million.

end of announcement                               euro adhoc

Further inquiry note:

Lucie Maucher
Tel.: +49 (69) 920 37-183
E-Mail: lucie.maucher@fd.com

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

Original-Content von: C.A.T. oil AG, übermittelt durch news aktuell

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