EANS-News: C.A.T. oil AG / Management Board and Supervisory Board publish Joint Reasoned Statement on Takeover Offer made by Joma Industrial Source Corp.

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Subtitle: • Management Board and Supervisory Board recommend
shareholders to accept takeover offer by Joma Industrial Source Corp.
• CEO Manfred Kastner “We have an excellent track record and
generated significant shareholder value – over the past three years
C.A.T.oil’s share price increased by more than 218%.”

Mergers - Acquisitions - Takeovers/Reasoned Statement

The Management Board and Supervisory Board of C.A.T. oil AG (O2C,
ISIN: AT0000A00Y78; "the Company")today published their Joint
Reasoned Statement pursuant to Article 27 WpÜG on the takeover offer
made by Joma Industrial Source Corp. ("Joma") on December 11, 2014.
In this statement, Management Board and Supervisory Board indicate
that the offer price of EUR 15.23 is adequate from a financial point
of view. However, the bidder's intentions remain, to a large extent,
unclear. Management Board and Supervisory Board recommend
shareholders of C.A.T. oil AG to accept the takeover offer. The
evaluation of the offer price's adequateness is, inter alia,
supported by a Fairness Opinion based on marked standard valuation
methods, provided by Commerzbank AG, Frankfurt.

Manfred Kastner, Chief Executive Officer of C.A.T. oil AG, said: "The
offer price is adequate from a valuation perspective given the
current geopolitical and macroeconomic environment. As a Management
Board we are convinced that C.A.T. oil is perfectly positioned as it
has a proven strategy geared towards profitable growth. We have an
excellent track record and generated significant shareholder value -
over the past three years C.A.T. oil's share price increased by more
than 218%. Moreover, C.A.T. oil enjoys an excellent reputation
amongst customers for its reliability and high quality of services."

The full Reasoned Statement by the Management Board and the
Supervisory Board has been posted today on the Company's website at
http://www.catoilag.com/ upload/Statement_2014-12-19.pdf and
publication by announcement in the Federal Gazette (Bundesanzeiger)
has been arranged for.

www.catoilag.com

Press contact:

FTI Consulting
Carolin Amann
Phone: +49 (0)69 92037-132
Email: carolin.amann@fticonsulting.com

Steffi Susan Kim
Phone: +49 (0)69 92037-115
Email: steffi.kim@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 hy-draulic 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 pro-ducers such as Rosneft, Lukoil, Gazprom
Neft, Tomskneft VNK, Slavneft, Russneft and KazMunaiGaz. The Company
has long-standing relationships with these custom-ers 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 9M
2014 weighted average headcount stood at 2,920 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 Susan Kim Tel: +49(0)69-92037-115 Email: steffi.kim@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