C.A.T. oil AG reports strong 2006 annual results

• Revenues up 23.0% to EUR 193.6 million
• EBIT increases 31.4% to EUR 36.9 million
• Net income at a new high
• Record levels of capital expenditures in 2007

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finances

Baden/Vienna (euro adhoc) - April 30, 2007 - C.A.T. oil AG (O2C,
ISIN: AT0000A00Y78), one of the leading providers of oil and gasfield
services in Russia and Kazakhstan, today announced the annual results
for the financial year 2006. In a favorable market environment
characterized by strong demand from oil and gas producers, the group
achieved significant revenue and earnings growth. At the same time
C.A.T. oil accomplished important milestones, which strengthened the
group´s market position and paved the way for sustainable future
growth.

The 2006 financials clearly reflect both C.A.T. oil´s positive
fundamental dynamics and its efforts to expand its hydraulic
fracturing and high-margin service capacities. Revenues rose by 23.0%
to EUR 193.6 million (previous year: EUR 157.4 million). C.A.T. oil
increased its EBITDA by 25.1% year-on-year to EUR 45.7 million
(previous year: EUR 36.5 million), while EBIT grew by 31.4% to EUR
36.9 million (previous year: EUR 28.1 million). Accordingly, the EBIT
margin increased to 19.1% compared to 17.9% in 2005. Net income in
2006 reached a new record high, rising by 37.6% to EUR 25.0 million
compared to EUR 18.2 million during the previous year. Earnings per
share amounted to EUR 0.54. The company achieved a Return on Capital
Employed (ROCE) of 25.5%.

Market position strengthened - valuable new client relationships

Manfred Kastner, CEO of C.A.T. oil AG, commented on the annual
results: "In the year 2006 C.A.T. oil took a big leap forward and
approved a far reaching capex program at record levels which will
significantly accelerate the growth and diversification of our
services in 2007 and 2008. We not only increased top-line and
bottom-line results in the year 2006, but we also expanded our
platform for further growth, both in our core business hydraulic
fracturing and in new value-added services such as inclined drilling
and coiled tubing. In addition, we strengthened our management team
which will support our future business development."

In 2006 C.A.T. oil again experienced a strong demand for its core
business hydraulic fracturing and its high-margin services gas
fracturing, side tracking, coiled tubing and nitrogen services. As a
result, the group´s total job count increased by 11.5% to 2,335 jobs
(previous year: 2,094). In order to meet the steadily rising demand
for its services by the Russian and Kazakh oil and gas industries,
C.A.T. oil committed significant capital expenditures to expanding
its operating capacity. In the course of 2006, the group acquired one
used fleet and three new state-of-the-art fleets, which have been
operating since July and the beginning of 2007 respectively. The
newly acquired fleets raised the total number of fleets from eight to
twelve.

During the past year, C.A.T. oil also expanded its business
relationships to major Russian customers. In July the group signed a
partnership agreement with Gazprom´s field service subsidiary Burgaz.
Two additional strategic partnerships agreements were concluded in
September with rapidly growing oil producer RussNeft and with
Gazprom-Neft, a subsidiary of Gazprom. These partnerships underscore
the intention of these important customers to intensify their
collaboration with C.A.T. oil in the future.

Moreover, C.A.T. oil accelerated the diversification of its service
portfolio in 2006. The group multiplied the number of high margin
special services on a year-on-year basis. Gas fracturing jobs, in
particular, which are more complex and therefore more profitable than
oil fracs, rose by 68% to a new record high in 2006. Russian gas
producers increasingly have to bring natural gas to the surface from
greater depths through more complex and less permeable reservoirs.
The strategic partnership with Burgaz indicates the growing
importance of this service in the Russian gas industry.

Significant increase in capex to fund expansion of capacities

In 2006, C.A.T. oil generated a cash flow from operating activities
of EUR 23.4 million compared to EUR 12.9 million for the previous
year. This increase was primarily due to a higher operating profit
and lower investment in net working capital. The cash flow from
investments rose to EUR 66.5 million compared to EUR 5.5 million for
the financial year 2005. This was driven mainly by investment in
fleet and side-tracking capacities and machinery. Following the
successful IPO in May 2006, C.A.T. oil´s management agreed on a
strategic investment program targeting extensive investments in
additional operating units and specialized service equipment. The
cash flow from financing activities was primarily influenced by net
IPO proceeds, growing to EUR 107.5 million compared to EUR -11.3
million in 2005. On December 31, 2006 C.A.T. oil had cash and cash
equivalents of EUR 74.5 million compared to EUR 10.9 million at the
end of the 2005 financial year. With total assets of EUR 234.9
million (previous year: EUR 109.7 million) and equity of EUR 216.1
million (previous year: EUR 71.5 million), the company´s equity ratio
increased from 65.2% to 92.0% during the reporting period.

C.A.T. oil group had an average of 2,362 employees in 2006, which is
a slight increase compared to the previous year. The group is
continuously investing in the training and education of its employees
in order to ensure highest standards in its operations. These
training opportunities and social benefits, which exceed local
standards, support C.A.T. oil´s position as a preferred employer
among other players in the region.

In view of the successful development of the Company in 2006 and the
achievement of important milestones at the beginning of this year,
the Board of Management is positive about the outlook for the
financial year 2007. In November 2006 and March 2007, the Company
signed three-year contracts with TNK-BP and Rosneft. Both contracts
underline the ongoing high demand for C.A.T. oil´s services.
Additionally, in April 2007 the Group acquired the oilfield services
Company FilOrAm from TNK-BP, thus increasing its fracturing fleet
capacities by another additional fleet. Furthermore, the Company
expects significant growth in its special services.

Commenting on the outlook for 2007, Manfred Kastner said: "With our
strong operative and technical capabilities, our disciplined
investment strategy and our accelerating diversification into
high-margin service segments, we are well positioned to benefit from
the positive sentiment in Russia and Central Asia.

The record level of investments and new employees confirms our high
growth strategy and diversification into special services. In 2007,
we plan to add more than 1,000 employees. We want to increase the
number of side-tracking crews from two to ten and we also plan four
new coiled tubing units, two new nitrogen units and three additional
hydraulic fracturing fleets.

Our order backlog and the sustainable high demand for our services
indicate that we should be able to achieve our ambitious targets for
2007 and 2008. We are confident that we are well prepared for the
future."

www.catoilag.com

About C.A.T. oil AG: Austria-based C.A.T. oil AG (O2C, ISIN:
AT0000A00Y78) is one of the leading providers of oil- and gasfield
services in Russia and Kazakhstan. C.A.T. oil´s core business is
hydraulic fracturing, a process which helps to open up oil- and
gas-bearing rock formations in order to increase or even enable oil
and gas production. The C.A.T. oil crews use state-of-the-art methods
and technologies to generate high pressure in the oil or gas
reservoirs concerned. This pressure causes cracks to appear in the
rock through which oil or gas can be produced in larger quantities
from the production well, and hence efficiently boosts extraction,
particularly in the case of deposits that are difficult to develop or
low-output wells. In addition, hydraulic fracturing can be used to
revitalize wells that have previously been idle. The Company has its
headquarters in Baden near Vienna and employed 2,427 people at the
end of 2006, most of whom are based in Russia and Kazakhstan.
Customers include leading oil and gas producers such as Gazprom,
KazMunaiGaz, LUKOIL, Rosneft, and TNK-BP. C.A.T. oil has been listed
in the Prime Standard of the Frankfurt Stock Exchange since May 4,
2006, and has been a member of the SDax since September 18, 2006.

end of announcement euro adhoc 30.04.2007 08:30:00
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ots Originaltext: C.A.T. oil AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Press contact:
A&B Financial Dynamics
Dr. Lutz Golsch Claudia Werth
Tel.: +49 (0)69 92037-110 Tel.: +49 (0)69 92037-114
Email: l.golsch@abfd.de Email: c.werth@abfd.de

Branche: Oil & Gas - Upstream activities
ISIN: AT0000A00Y78
WKN: A0IKWU
Börsen: Frankfurter Wertpapierbörse / official dealing