EANS-News: C.A.T. oil AG / C.A.T. oil reiterates its 2014 guidance and stays adhered to its 2014-16 investment plans

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Subtitle: • Business model stays intact • Management reiterates its
outlook for 2014 despite recent economic sanctions and export
controls regarding the Russian oil industry • Assessment of the
details of the EU and the US restrictive measures ongoing • Adherence
to the 2014-16 investment program • CEO Manfred Kastner: “Despite the
macroeconomic uncertainties we hold on to our plans. We are confident
in our forecast for this year as our operations run smoothly and
according to the plan.”

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, reiterates
its outlook for the current fiscal year following the initial
assessment of the effects of the latest EU and US export restrictions
for the Russian oil industry. C.A.T. oil expects revenues in the
range of EUR 420 to 450 million and EBITDA in the range of EUR 113 to
121 million for 2014.

The Company assessed the effects of the sanctions on its business
model, 2014 objectives and 2014-16 capital expenditure program. While
the EU and the US export restrictions for certain items target
specific projects pertaining to deep water and Arctic exploration and
production and shale oil projects, neither C.A.T. oil nor its
subsidiaries have ever been involved in any of the aforementioned
projects. The Company's focus has always been pressure pumping,
sidetracking and drilling services solely at onshore conventional oil
and gas reservoirs in Russia and Kazakhstan. C.A.T. oil has
repeatedly stressed that it will consequently follow its proven
strategy and neither change its business focus nor the nature of its
operations going forward. Thus, the 2014-16 investment program of EUR
390 million is also not intended for any of the restricted activity
areas but support of customers' production from maturing conventional
oil and gas reservoirs with diminishing productivity.

Manfred Kastner, CEO of C.A.T. oil, said: "We have been active in
Russia for more than 20 years. Over time we have gone through
different economic and political phases. We have always been flexible
in our operations and committed to our customers and services.
Despite the current macroeconomic uncertainties we thus also hold on
to our plans now. We are confident in our forecast for this year as
our operations run smoothly and according to the plan."

C.A.T. oil's business model resides upon modern technology and a well
invested asset base with operating capacities primarily of EU and US
origin. After having made the initial assessment, C.A.T. oil is -
despite its awareness that export controls are subject to change and
that regulators have broad discretion when interpreting export
controls - confident in its business model. The planned capacity
additions are not intended for deep water, Arctic or shale oil
projects. Therefore, the Company believes the latest EU and US export
control rules for Russian oil industry do not jeopardize its business
model, 2014 operating and financial objectives and 2014-16 investment
program.

Manfred Kastner further concluded: "We are of course closely
following the developments and are constantly evaluating the
conditions of the sanctions. At the same time, however, we are
concentrating on our operations and the execution of our investment
plan. We, therefore, remain focused beyond 2014 as our strategy aims
at profitable growth going forward."

www.catoilag.com

Press contact:
FTI Consulting
Carolin Amann
Phone: +49 (0)69 92037-132
Email: carolin.amann@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:
Carolin Amann Tel: +49(0)69-92037-132 Email: carolin.amann@fticonsulting.com
Steffi Fahjen Tel: +49(0)69-92037-115 Email: steffi.fahjen@fticonsulting.com

end of announcement euro adhoc
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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