EANS-Adhoc: Petro Welt Technologies AG Acquires Fracturing Company in Kazakhstan - Trican Well Service Kazakhstan (Trican) Ltd. purchased from the Canadian firm Trican Well Service - Expansion of mar

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Disclosed inside information pursuant to article 17 Market Abuse Regulation
(MAR) transmitted by euro adhoc with the aim of a Europe-wide Distribution.
The issuer is solely responsible for the content of this announcement.
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Mergers - Acquisitions - Takeovers/Company Information
01.09.2016

Petro Welt Technologies AG, Vienna, has concluded the transaction to
acquire the Kazakh fracturing subsidiary of the Canadian oilfield
services company Trican Well Service Ltd., Calgary. The acquired
firm, Trican Well Service Kazakhstan Ltd., is a specialist for
fracturing and actively serves a number of international and local
customers throughout Kazakhstan. The business activities of the
company, the technologies in use and the quality of the services
offered are equivalent to the portfolio of Petro Welt Technologies.
The integration of the acquired company in the corporate structures
of Petro Welt Technologies AG is likely to be completed within the
next two to three months. The responsible competition authorities in
Russia and Kazakhstan have granted their formal approval to this
acquisition.

"This is a fit for purpose deal that will produce beneficial
synergies for both companies", says Yury Semenov, CEO of Petro Welt
Technologies AG, in commenting on the transaction. "The company we
acquired has a good operational performance, a recognized track
record and an extensive local presence in Kazakhstan. This
acquisition is the first step in our strategic overseas expansion
designed to strengthen the market position of Petro Welt Technologies
AG in the CIS markets", Yury Semenov adds, explaining the rationale
behind the deal.

Further inquiry note:
SCHOLDAN&Comp.
Bernhard Grabmayr
office@scholdan.com
+43-1-513 23 88-0

end of announcement euro adhoc
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issuer: Petro Welt Technologies 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

Original Content von: Petro Welt Technologies AG, übermittelt durch news aktuell