euro adhoc: C.A.T. oil AG / quarterly or semiannual financial statement / C.A.T. oil AG reports significant increase in first quarter revenues and earnings

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Disclosure announcement transmitted by euro adhoc.
The issuer is responsible for the content of this announcement.
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29.05.2006

Baden/Vienna, May 29, 2006 - C.A.T. oil AG (O2C, ISIN: AT0000A00Y78),
one of the leading providers of oilfield services in Russia and
Kazakhstan, achieved successful revenue growth and improved its
earnings during the first quarter of 2006. Despite the loss of an
above-average number of workdays due to the very cold winter, the
company saw group sales grow 19.4% to EUR 37.6 million (previous
year: 31.5 million). The company’s EBITDA rose 45.2% to EUR 10.0
million (previous year: EUR 6.9 million). The EBIT increased 67.5%
during the reporting period to EUR 8.0 million (previous year: EUR
4.8 million), and the EBIT margin grew from 15.1% for the previous
year’s first quarter to 21.2%.

The positive development of business is also reflected in the
company’s earnings after taxes. C.A.T.oil saw its quarterly net
profit adjusted for minority stakes rise from EUR 3.5 million for the
first quarter of 2005 to EUR 5.3 million for the reporting period.
This corresponds to an increase of more than 50%. Earnings per share
were EUR 0.13.

Group sales for the first quarter of each year are usually below the
quarterly average for the entire year as the result of seasonal
weather conditions in Russia and Kazakhstan. This year the
temperatures in regions where C.A.T.oil operates were sometimes under
minus 50 degrees Celsius; fracturing and workover cannot be performed
at temperatures of less than minus 35 degrees. As a result 20
workdays were lost on some wells in January, or 15 workdays more than
during the first quarter of the previous year. The number of
fracturing jobs in February and in particular a new record for
performed fracturing jobs in March went a long way in compensating
for these lost workdays. The efficiency of fracturing operations also
improved during the first quarter thanks to consequent cost and
process management throughout the group. Acquisitions included a used
fracturing fleet purchased during the first quarter. This fleet is
currently being overhauled and is expected to begin generating
additional sales during the third quarter of 2006.

Further information is available on the website of the Company:
www.catoilag.com

end of announcement euro adhoc 29.05.2006 13:05:25
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ots Originaltext: C.A.T. oil AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
A&B Financial Dynamics
Dr. Lutz Golsch
phone +49 69 92037-110
ir@catoilag.com

Branche: Oil & Gas - Upstream activities
ISIN: AT0000A00Y78
WKN: A0IKWU
Börsen: Frankfurter Wertpapierbörse / official dealing