EANS-Adhoc: Schoeller-Bleckmann Oilfield Equipment AG / Schoeller-Bleckmann Oilfield Equipment AG acquires Drilling Systems International Ltd.

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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
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announcement.
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14.09.2010

Ternitz/Vienna, 14 September 2010. Schoeller-Bleckmann Oilfield
Equipment AG (SBO), listed on the ATX market of the Vienna Stock
Exchange, acquires 100 % of Drilling Systems International Ltd.
(DSI). Headquartered in Dubai, DSI is a leading global provider of
specialised equipment for downhole circulation technology for oil and
gas wells. By renting its tools, DSI generates annual revenues of
approximately MUSD 30. DSI's customers include international oil
companies and oilfield service providers. Purchase agreements were
signed on 13 September 2010 and the transaction is expected to be
completed on 1 October 2010. The parties have agreed not to disclose
the purchase price.

"With DSI, we acquire the market leader of an attractive niche in the
oilfield service industry. We believe that due to its proven
technology DSI offers excellent growth potential and is an ideal
addition to our product portfolio. We expect to see significant
synergies arising between DSI and BICO, our drilling motor
subsidiary, notably for our distribution networks", comments Gerald
Grohmann, CEO of Schoeller-Bleckmann Oilfield Equipment AG, on the
acquisition.

The seller is the founder and sole owner of the company and SBO is
acquiring all associated patents and intellectual property rights.
The former owner will continue to provide technical consulting
services to SBO.

DSI delivers specialised downhole circulation tools which steer the
flow direction of drilling muds in the drill string. The company's
flagship product is the PBL tool which forms part of the drill
string. The main purpose of the PBL tool is to avoid mud losses
during the drilling process. Such losses may occur when drilling muds
escape into the rock formations. The tool helps to protect costly
drill string steering systems (MWD and LWD equipment) from damage and
to solve expensive lost-circulation problems. The PBL is also used in
deepwater operations to clean the wellhead profile prior to running
casing and jetting/washing the subsea blowout preventers (BOPs).
SBO's CEO Gerald Grohmann believes strongly that: "Using such a tool
could become increasingly important, notably after the incident in
the Gulf of Mexico (Macondo Well)".

The PBL tool delivers value to customers through considerable time
and cost savings, as the system is highly reliable and easy to
operate. DSI's technology makes the company the uncontested global
market leader in this niche. The business model structure is similar
to that of SBO's subsidiary BICO, which also rents drilling motors to
its customers.

end of ad-hoc-announcement ==========================================
====================================== 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.
Worldwide, SBO has employed a workforce of 1135 as at 30 June 2010
(31 December 2009: 1056), thereof 336 in Ternitz/Austria and 502 in
North America (including Mexico).

end of announcement euro adhoc
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ots Originaltext: Schoeller-Bleckmann Oilfield Equipment AG
Im Internet recherchierbar: http://www.presseportal.de

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 501

e-mail: g.bauer@sbo.co.at

Branche: Oil & Gas - Upstream activities
ISIN: AT0000946652
WKN: 907391
Index: WBI, ATX Prime, ATX
Börsen: Wien / official market