C.A.T. oil wins major tender for workover services

• C.A.T. oil’s subsidiary CATOBNEFT has been awarded winner of major
tender for a workover contract with TNK-BP
• More than 50% of
C.A.T. oil’s current workover capacities locked up for three years

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Vienna (euro adhoc) - December 17, 2007 - C.A.T. oil AG (O2C, ISIN AT
0000A00Y78), one of the leading providers of oil and gas field
services in Russia and Kazakhstan, through its operating subsidiary
CATOBNEFT has been announced winner in a major tender for a 3-year
well workover contract with TNK-BP, one of Russia´s largest oil and
gas groups.

C.A.T. oil will render workover services at TNK-BP´s Samotlor field,
one of the largest oil fields in the world, in Nizhnevartovsk area,
West Siberia. Apart from well workover, C.A.T. oil provides hydraulic
fracturing, sidetracking and remedial cementing services at Samotlor
under the field´s rehabilitation plan.

The tendered work load amounts to a revenue of around EUR 20 million
per year and locks up C.A.T. oil´s twenty well workover rigs or
approximately 55% of the Company´s current total workover capacity
for three years.

The contract is expected to be sealed by the end of 2007 or at the
beginning of 2008.

"The tender results witness our quality workover services fully meet
TNK-BP´s highest operational, safety and environmental standards and
cement our long-standing relations with this prominent customer. The
development also points to the Russian oilfield services industry´s
maturation and growing trend of longer term contractual arrangements
with reliable contractors such as C.A.T. oil away from currently
prevailing one-year contracts", said Leonid Mirzoyan, Chief Corporate
Finance Officer of C.A.T. oil AG.

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
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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: SDAX, Classic All Share, Prime All Share
Börsen: Börse Frankfurt / regulated dealing


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