EANS-News: Agreement with Gazprom Neft ensures full utilization of new capacities until end of 2016

--------------------------------------------------------------------------------
Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
--------------------------------------------------------------------------------

Subtitle: • Framework agreement guarantees full utilization of four
new drilling rigs and one new fracturing fleet until end of 2016 •
Roll-out of 2014-16 investment program fully on track • CEO Manfred
Kastner: “The agreement provides planning security and improves our
mid-term revenue visibility. Industry trends remain encouraging and
we continue to experience a supportive operating environment laying
the basis for a successful 2014.”

Company Information

C.A.T. oil AG (O2C, ISIN: AT0000A00Y78),one of the leading providers
of oil and gas field services in Russia and Kazakhstan, signed a
framework agreement with Gazprom Neft on drilling and hydraulic
fracturing services on 17 June 2014. The agreement guarantees full
utilization of four new drilling rigs and one new fracturing fleet
until end of 2016 and foresees conclusion of respective service
agreements between the operating subsidiaries of Gazprom Neft and
C.A.T. oil.

The new drilling and fracturing capacities will be successively
deployed in the field from September to December 2014 and are part of
C.A.T. oil's growth strategy. In November 2013, C.A.T. oil announced
its 2014-16 investment program of EUR 390 million aiming at expansion
of its operating capacities by around 33% for fracturing, 55% for
sidetracking and 170% for drilling by the end of 2016 compared to the
end of 2013. For 2014, C.A.T. oil has ordered six drilling rigs, four
sidetracking rigs and one fracturing fleet. Execution of the program
and manufacturing of the ordered new capacities are fully on
schedule.

Manfred Kastner, CEO of C.A.T. oil, commented: "We appreciate the
framework agreement signed with Gazprom Neft, one of our
longest-standing customers. The agreement provides planning security
and improves our mid-term revenue visibility. At the same time it
demonstrates the industry's accelerating demand for technologically
advanced services and the interest to secure capacities over a longer
period of time. Industry trends remain encouraging and we continue to
experience a supportive operating environment laying the basis for a
successful 2014."

www.catoilag.com

Press contact:
FTI Consulting
Thomas M. Krammer
Phone: +49 (0)69 92037-183
Email: thomas.krammer@fticonsulting.com

Steffi Fahjen
Phone: +49 (0)69 92037-115
Email: steffi.fahjen@fticonsulting.com

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 Q1
2014 weighted average headcount stood at 2,837 people, most of which
are based in Russia and Kazakhstan.

Further inquiry note:
Thomas Krammer
Tel: +49(0)69-92037-183
Email: thomas.krammer@fticonsulting.com

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
mail: ir@catoilag.com
WWW: http://www.catoilag.com
sector: Oil & Gas - Upstream activities
ISIN: AT0000A00Y78
indexes: SDAX, Classic All Share, Prime All Share
stockmarkets: regulated dealing/prime standard: Frankfurt
language: English