C.A.T. oil AG reports strong increases in revenues and earnings during the first nine months of 2006

Revenues grow 26.4% / EBIT rises 35.1 % / Earnings per share at EUR 0.50

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Baden (euro adhoc) - Austrian C.A.T. oil AG (O2C, ISIN:
AT0000A00Y78), one of the leading providers of oil and gasfield
services in Russia and Kazakhstan, today announced the results for
the first nine months of the 2006 financial year. Following a
successful half-year and robust sales during the third quarter, the
company again enjoyed a strong increase in consolidated revenues and
earnings thanks to the buoyant demand for hydraulic fracturing
services and special services. C.A.T. oil AG performed a total of 649
service jobs during the third quarter.

Revenues during the first nine months of the current financial year
rose 26.4% to EUR 145.2 million compared to EUR 114.9 million for the
same period of last year. EBITDA grew 27.8% to EUR 38.6 million
(previous year: EUR 30.2 Mio.). EBIT jumped 35.1% to EUR 32.0 million
compared to EUR 23.7 million for the first three quarters of the
previous year. C.A.T. oil AG thereby saw its EBIT margin rise to
22.0% compared to 20.6% for the previous year.

Demand for high-margin special services continues to grow

High-margin special jobs such as coiled tubing services and side
tracking continued to account for a continually larger share of
revenues during the third quarter. The number of gas fracturing jobs
again grew significantly during the third quarter. Manfred Kastner,
Chief Executive Officer of C.A.T. oil AG, said: "The results clearly
underscore the success of our strategy of acquiring new technologies
to our service portfolio and implementing them by our employees.
During the coming financial year we will continue to promote growth
by investing heavily in innovative services."

Three strategic alliances formed with leading Russian oil and gas
companies were further milestone achievements during the third
quarter of 2006. Following the conclusion of a strategic alliance in
July with Burgaz, a subsidiary of the Gazprom Group in charge of
production, two more strategic alliances were formed in September
with Russian oil producer RussNeft OAO NK and Gazprom subsidiary
Gazprom-Neft. All three alliances were concluded to intensify the
level of cooperation and underscore the high standard of services
provided by C.A.T. oil AG and the confidence of the Company’s
longstanding customers in the quality of its work.

The positive market environment during the first nine months of 2006
again led to an increase in earnings after taxes and adjustment for
minority interests. Net profit for the period under review rose 42.2%
to EUR 22.5 million compared to EUR 15.8 million for the same period
of last year. The resulting earnings per share amounted to EUR 0.50.

During the first nine months of the 2006 financial year the Company
generated a cash flow from operating activities of EUR 16.3 million
compared to EUR 10.7 million for the comparable period of last year.
This increase is primarily attributable to the below-average changes
in net working capital as compared with the rise in earnings and
lower exchange rate losses due to the revaluation of the ruble
against the US dollar. The cash flow from investments during the
first nine months of 2006 was EUR -37.5 million compared to EUR 5.6
million for the same period of the previous year. This includes
prepaid expenses of EUR 16.5 million for equipment, which will be
delivered in the coming year. The cash flow from financing activities
during the period under review rose sharply to EUR 107.4 million
(previous year: EUR -12.6 million). The increase is primarily
attributable to the proceeds from the IPO in the amount of EUR 121.0
million. Cash and cash equivalents at the end of the reporting period
were EUR 96.7 million compared to EUR 10.9 million at the end of the
2005 financial year.

C.A.T. oil AG had an average of 2,322 employees during the first nine
months of the current financial year. The company’s employees have
extensive expertise in the oil and gas sector. Most of them have been
with the company for many years, during which time they have built
strong relationships with the Company’s customers.

Based on the strong growth of revenues and earnings during the first
nine months of the current financial year coupled with the ongoing
high demand for the Company’s services, the Board of Management of
C.A.T. oil AG forecasts a strong rate of growth for the year as a
whole. The management of C.A.T. oil AG is also optimistic about the
coming financial year. "The new agreements already concluded and the
outlook for the coming year are very encouraging. The formation of
strategic alliances with three of our most important customers
indicates that they are looking forward to continuing and expanding
their relationships with C.A.T. oil well into the future. The
addition of three new fracturing fleets by the beginning of 2007 will
significantly expand capacity while boosting our revenues," said
Manfred Kastner.

During the third quarter of 2006 the Company has set the stage for
continued growth. In summer the Group approved an extensive
investment package that will put the Company’s development strategy
on solid footing and further strengthen its market position. Most of
the funds invested will be used to expand the service portfolio and
to implement new attractive technologies to greatly accelerate the
Company’s diversification and expansion.

www.catoilag.com
Press Contact:
A&B Financial Dynamics

Dr. Lutz Golsch Claudia Werth
Phone: +49 (0)69 92037-110 Phone: +49 (0)69 92037-114
E-mail: l.golsch@abfd.de E-mail: c.werth@abfd.de
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 Baden near Vienna and employed
2,230 people at the end of 2005, 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 29.11.2006 08:22:49
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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 (0)69 92037-110
E-mail: l.golsch@abfd.de

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


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