C.A.T. oil´s Q1 2007 results impacted by growth related costs and significant capacity additions

• Revenues up 27.2% y/y to EUR 47.9 million
• Strong appreciation in revenues per job
• Operating capacities expanded substantially

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Baden/Vienna (euro adhoc) - May 31, 2007 - C.A.T. oil AG (O2C, ISIN:
AT0000A00Y78), one of the leading providers of oil and gasfield
services in Russia and Kazakhstan, has announced today its Q1 2007
results. Despite hash weather conditions in Western Siberia, leading
to a seasonal downturn in job count, the Company sustained dynamic
growth and boosted revenues substantially. The increase in revenues
was primarily driven by a strong y/y increase in an average per job
revenue, which reached a new high during the reporting period. At the
same time C.A.T. oil pressed ahead with its aggressive growth
strategy and continued adding operating capacity to its core
hydraulic fracturing business and other services.

The Q1 2007 revenues rose 27.2% y/y to EUR 47.9 million compared to
EUR 37.6 million a year ago. Driven by substantial enlargement of
operating capacities, regional diversification, and personnel
additions, cost of revenues went up 45.4% y/y to EUR 36.6 million (Q1
2006: EUR 25.2 million). Although general and administrative expenses
were successfully reduced 5.9% y/y, the increase in operating costs
resulted in a 5.5% y/y decline in EBITDA to EUR 9.5 million compared
to EUR 10.0 million in Q1 2006. EBIT amounted to EUR 7.1 million (Q1
2006: EUR 8.0 million). As a result, EBITDA and EBIT margins shrinked
to 19.8% and 14.9% respectively (Q1 2006: 26.7% and 21.2%). The Q1
2007 net income totaled EUR 4.9 million (Q1 2006: EUR 5.3 million),
and earnings per share - EUR 0.101 (Q1 2006: EUR 0.133).

Investment in regional diversification and expansion of operations

Q1 2007 was again marked by substantial investments in future
increase as the demand growth for the Company´s service portfolio
accelerates. To meet customer´s needs the Company extensively
invested in new equipment and personnel. In Q1 2007 C.A.T. oil set up
10 new workover crews, boosting its total workover operating capacity
to 35 crews. For its core business -hydraulic fracturing, C.A.T. oil
put three new state-of-the-art fleets into operation at the beginning
of Q1 2007. Additional fracturing equipment, consisting of two new
fleets, has been ordered and prepaid in order to increase total
pumping capacity, and is expected to become operational in Q4 2007.

Overall, C.A.T. oil performed 444 service jobs in Q1 2007, up from
429 jobs a year ago. Simultaneously, the Company significantly
increased its average revenues per job to thou. EUR 108,000 in Q1
2007 from EUR 88,000 in Q1 2006 on the back of rising job complexity
and changing business mix. In Q1 2007, the Company´s headcount
totaled 2,657 people, a 19.4% increase compared to Q1 2006.

"We are especially pleased with the record level of average revenues
per job. As expected, our earnings situation has been characterized
by seasonal weather conditions and by the on-going build-up of
capacities, as newly operational fleets and teams need some time to
achieve the same efficiency levels as the ones which have been
operating for many years. We are convinced that our investment
program will pay-off with improved growth dynamics during the future
periods. We are confident that the following quarters will deliver a
very positive momentum. By the end of this year we will have scaled
up our capacities by eight more side tracking rigs, of which two will
be put into operation in the second quarter 2007. Four new coiled
tubing units and two new nitrogen units will be added in the second
half of 2007 and further strengthen our position in a growing segment
of package well services," outlined Manfred Kastner, CEO of the
Company.

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 Baden near Vienna and employed 2,427 people at the
end of 2006, 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 31.05.2007 08:30:00
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ots Originaltext: C.A.T. oil AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Claudia Werth
Telefon: +49 (0)69 920 37-114
E-Mail: c.werth@abfd.de

Branche: Oil & Gas - Upstream activities
ISIN: AT0000A00Y78
WKN: A0IKWU
Index: Classic All Share, Prime All Share, SDAX
Börsen: Frankfurter Wertpapierbörse / official dealing