C.A.T. oil reports solid growth in revenues and earnings for the first nine months of 2007

• Revenues up 13.0% to EUR 164.1 million
• EBITDA increased by 10.7% to EUR 42.7 million
• Successful enhancement of service portfolio and operational areas

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finances

Vienna (euro adhoc) - November 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 its results for
the first nine months of the financial year 2007. Concurrently with
further massive capacity additions and expansion into new businesses
and regions, the Company realized solid growth in revenues and
earnings. Driven by high operating activity in the summer months,
C.A.T. oil achieved a new high in service count and altogether
accomplished 694 jobs (Q3 2006: 649 jobs). At the same time, average
per-job revenue rose to thou. EUR 88.3 (Q3 2006: thou. EUR 86.0) due
to growing job size and complexity. The third quarter was again
characterized by comprehensive capacity additions throughout all
services. Compared to Q3 2006 C.A.T. oil increased its hydraulic
fracturing capacities by 55.6% to 14 fleets and its capacities for
high-margin sidetracking drilling by 250% to seven rigs. On top of
expanding its existing services, C.A.T. oil further diversified its
business allowing the Company operations in markets outside of Russia
and Kazakhstan.

Growth in revenues and profit despite high front-loaded costs

On the back of a strong demand and higher exposure to lucrative large
fracturing jobs, revenues in the first nine months of 2007 increased
13.0% yoy to EUR 164.1 million (9M 2006: EUR 145.2 million). But,
consequent to extensive operating capacity additions and business
diversification, C.A.T. oil´s operating cost base was influenced by
front loaded growth-related costs. As a result, C.A.T. oil´s cost of
sales rose 17.3% yoy to EUR 117.1 million in 9M 2007. EBITDA
increased 10.7% yoy to EUR 42.7 million (9M 2006: EUR 38.6 million)
and EBIT rose 7.5% yoy to EUR 34.4 million (9M 2006: EUR 32.0
million). EBITDA and EBIT margins amounted to 26.0% and 20.9%,
respectively (9M 2006: 26.6% and 22.0%). Net income in the first nine
months of 2007 was EUR 22.6 million, effectively flat yoy (9M 2006:
EUR 22.5 million). Earnings per share amounted to EUR 0.46 (9M 2006:
EUR 0.50).

On a quarter-to-quarter basis, revenues increased 9.9% yoy to EUR
61.3 million, driving gross profit up 11.3% yoy to EUR 17.5 million
in Q3 2007. However, a steep rise in general and administrative
expenses on the back of additional office and camp rental expenses
for C.A.T. oil´s new subsidiaries resulted in an 8.6% yoy gain in
EBITDA to EUR 15.6 million in Q3 2007. EBIT rose only 2.7% to EUR
12.4 million due to much higher depreciation charge in comparison to
Q3 2006. Consequently, the EBITDA margin stayed effectively flat yoy
at 25.5% and the EBIT margin decreased to 20.2% compared to 21.6% a
year ago.

C.A.T. oil´s cash flow from operating activities rose 19.6% yoy to
EUR 8.5 million in Q3 2007 but declined 9.0% yoy to EUR 14.8 million
for the first nine months of 2007 due to a strong increase in working
capital in the first half of 2007. Nonetheless, the Company managed
to decrease investments in working capital by 12.8% yoy to EUR 3.7
million in Q3 2007. Cash flow from investing activities increased
88.4% yoy to EUR -70.7 million. This significant increase is due to
C.A.T. oil´s massive investment program, which includes payments for
new fracturing, sidetrack drilling, coiled tubing and seismic
capacities. The Company´s cash and cash equivalents decreased EUR
51.1 million since the beginning of the year to EUR 23.3 million as
of September 30, 2007.

Successful expansion into new markets

In the third quarter, C.A.T. oil further successfully advanced in its
expansion and diversification course. In addition to massive
enhancements of the operating capacity, the Company complemented its
core businesses by establishing the new subsidiary CAToil-Geodata.
This gives the Company access to the appealing segment of
geotechnical services and strong organic growth in 2D/3D seismic and
reservoir engineering. CAToil-Geodata will also allow C.A.T. oil to
enter new markets outside of Russia and Kazakhstan. During the third
quarter CAToil-Geodata was awarded seismic and consultancy contracts
in India, Nigeria and Latin America, with a total value of EUR 15
million. Also, CAToil-Geodata launched mobilization of six 2D/3D
seismic crews which have already been contracted for the winter
season of 2007/8.

In Q3 2007, the Company again witnessed strong demand for its new
service sidetracking drilling. With a 250% yoy increase in
sidetracking drilling capacity to seven rigs, C.A.T. oil is well
positioned to benefit from an enormous growth potential of this
service. C.A.T oil´s new subsidiary CAToil Drilling launched its
operations and deployed two sidetracking rigs for Gazprom Neft in the
Noyabrsk area with a view to expanding services for this
strategically important client in Q4 2007 and 2008. This contract was
signed within a framework of the September 2006 strategic partnership
agreement between Gazprom Neft and C.A.T. oil.

In the course of substantial additions to C.A.T. oil´s operating
capacities, the Company´s average headcount increased 35.1% yoy to
3,198 employees (Q3 2006: 2,368). The majority of the new employees
has been recruited in Russia and Kazakhstan to work on oil and gas
fields of C.A.T. oil´s clientele.

Investment program to pay off in 2008

C.A.T. oil´s management is convinced that the significant investments
made over the last nine months will pay off and reward the Company
with growing revenues and attractive double-digit margins. Manfred
Kastner, CEO of C.A.T. oil AG, outlined: "In the first nine months
2007 we intensively worked on our goals to rapidly diversify and
transform our Company from a pure pressure pumping specialist into a
fully integrated service provider for the oil and gas industry.
Growing contribution of new high-growth services such as sidetrack
drilling or seismic services and sustained growth in fracturing
operations will support growth in revenues and earnings in 2008 and
beyond. However, high growth in our industry does not come without
upfront costs ahead of revenue generation. Nonetheless, we should
fully realize the full potential of our 2007 investment program next
year once the new capacities are at full utilization and success
rates."

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 Vienna and employed an average of 3,053 people in the
first nine months of financial year 2007, 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 30.11.2007 08:32:00
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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
Index: Classic All Share, Prime All Share, SDAX
Börsen: Börse Frankfurt / regulated dealing