C.A.T. oil reports strong increase in revenues and earnings for the first half of 2007

• Revenues increased by 15% to EUR 102.8 million
• EBIT up 10.4% year-on-year
• Expansion of capacities and regional diversification advanced

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finances

Baden/Vienna (euro adhoc) - August 31, 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 half of 2007. On the back of a keen demand and continued
capacity additions, the Company achieved a strong growth of top line
and bottom line results. After a seasonal downturn in job count in
the first quarter of 2007, C.A.T. oil accomplished 688 jobs and
achieved a new record high of service jobs in the second quarter. On
top of that, the Company continued its aggressive growth and
diversification strategy by significantly expanding its operating
base. Compared to Q2 2006, C.A.T. oil increased its fracturing
capacity by 62.5%, its sidetracking capacities by 100% and its
workover platforms by 40%.

Two-digit growth in top and bottom line results

Driven by high capacity utilization and a growing job complexity,
revenues in the first half of 2007 increased by 15.0% to EUR 102.8
million compared to EUR 89.4 million in the same period last year.
Due to strict cost management C.A.T. oil´s cost of sales only grew by
22.6% despite considerable launch costs for the mobilization of new
equipment and additional service crews. As a result, EBITDA rose
12.0% to EUR 27.1 million year-on-year (H1 2006: EUR 24.2 million)
and EBIT increased by 10.4% to EUR 22 million year-on-year (H1 2006:
EUR 19.9 million). EBITDA and EBIT margins amounted to 26.4% and
21.4% respectively. Net income in the first half of 2007 gained 15.3%
to EUR 15.9 million compared to EUR 13.8 million last year. Earnings
per share amounted to EUR 0.33 (H1 2006: EUR 0.32).

Quarter-on-quarter C.A.T. oil´s EBITDA gained 24.5% to EUR 17.6
million (Q2 2006: EUR 14.2 million). In the same period EBIT also
increased by 24.5% to EUR 14.9 million (Q2 2006: EUR 11.9 million).

Due to higher investments in working capital, cash flow from
operating activities decreased to EUR 6.4 million from EUR 9.2
million in the first half of 2006 - mainly a consequence of changes
in the net working capital of EUR 14.0 million. Cash flow from
investing activities amounted to EUR -47.4 million (H1 2006: EUR
-10.3 million). This significant increase is mainly due to
investments in property and equipment. Additionally, C.A.T. oil made
further prepayments for new operating capacities and acquired a 100%
stake in oilfield service provider FilOrAm.

The Company´s cash and cash equivalents decreased by EUR 12.0 million
to EUR 33.8 million on June 30, 2007, a consequence of C.A.T. oil´s
substantial investment program.

Extensive investment program and regional diversification continued

The first half of 2007 was marked by a significant expansion of
C.A.T. oil´s capacities and an ongoing strong diversification
process. In the second quarter the Company added two more
sidetracking rigs, expanding its total sidetracking capacities to
four units. Delivery of another three rigs is expected within the
third quarter of this year. To meet the opportunities of Russia´s
highly lucrative sidetrack drilling market, C.A.T. oil set up a new
operating subsidiary, C.A.T. oil Drilling, in April 2007. This step
underlines the significant potential of this service for C.A.T. oil.
By the end of 2007 the Company will have increased its total
sidetracking capacities to ten rigs.

The acquisition of FilOrAm, a former service subsidiary of oil and
gas major TNK-BP was another important milestone in the second
quarter of 2007. With this move C.A.T. oil not only increased its
hydraulic fracturing platform by another fleet but also got strategic
access to the important Volga-Urals region in European Russia.

In addition to substantial enhancements of the Company´s equipment
base, C.A.T. oil made major investments in staff expansions. In the
first half of 2007, the Company had an average of 2,875 employees
compared to 2,269 in the same period last year (up 26.7%).

Positive outlook for 2007

C.A.T. oil´s management anticipates sustained future growth for the
Company. Manfred Kastner, CEO of C.A.T. oil, outlined: "Our
aggressive regional and product diversification combined with the
implementation of our extensive investment program of 2007 will
translate into an accelerated development of C.A.T. oil. Our Company
is at the stage of entering a new phase in its history: the
transformation away from a pure pressure pumping specialist into a
more comprehensive integrated service provider. The planned expansion
into geotechnical services with the launch of the new subsidiary
C.A.T. oil-GEODATA at the beginning of Q3 2007 marks another
important step in this process. In view of this excellent environment
we are optimistic for C.A.T. oil´s future performance."

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 Baden/Vienna and employed an average
of 2,875 people in the first half 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 31.08.2007 08:30:00
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ots Originaltext: C.A.T. oil AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
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 / official dealing