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Subtitle: Manfred Kastner, Ronald Harder, Anna Brinkmann and Leonid Mirzoyan
re-confirmed as Members of the Management Board of C.A.T. oil AG
Appointments extended until end of fiscal year 2018
Supervisory Board acknowledges the boards commitment to the Company's
strategy aiming at sustainable and profitable business growth
Board of Directors (Appointments and Changes)
Vienna, 19 December 2013 (euro adhoc) - The Supervisory Board of C.A.T. oil AG
(O2C, ISIN: AT0000A00Y78),one of the leading providers of oil and gas field
services in Russia and Kazakhstan, has extended the contracts of the entire
Management Board of the Company until the end of fiscal year 2018. Manfred
Kastner will continue to act as Chairman of the Board and Chief Executive
Officer, Ronald Harder as Vice Chairman of the Board and Chief Financial
Officer. Anna Brinkmann will act as Chief Operating Officer in the future and
Leonid Mirzoyan will continue as Chief Corporate Finance Officer. The
Supervisory Board thereby confirms the dedicated and successful work of all four
individuals over the past years. With the latest appointment the Supervisory
Board ensures continuity in the senior management team and the Company's
successful implementation of its strategy which is aimed at profitable growth.
Dr. Gerhard Strate, Chairman of the Supervisory Board, commented: "We are
delighted about the extension of the contracts with the Management Board of
C.A.T. oil. With this step the Supervisory Board secures the managerial
expertise and in-depth industry know-how of Manfred Kastner, Ronald Harder, Anna
Brinkmann and Leonid Mirzoyan in order to continue C.A.T. oil's success story.
We are looking forward to continue working together with the entire Management
Board, especially as it begins another major investment cycle and opens another
chapter of C.A.T. oil's development with the roll-out of the 2014-16 investment
program of EUR 390 million."
www.catoilag.com
Press contact:
FTI Consulting
Thomas M. Krammer
Phone: +49 (0)69 92037-183
Email: thomas.krammer@fticonsulting.com
Steffi Fahjen
Phone: +49 (0)69 92037-115
Email: steffi.fahjen@fticonsulting.com
About C.A.T. oil AG:
C.A.T. oil AG is one of the leading independent oil and gas field service
contractors in Russia and Kazakhstan and is listed on the Frankfurt Stock
Exchange (SDAX). C.A.T. oil provides a range of high quality services, which
enable oil and gas producers to extend lifecycle of their fields or bring yet
unexploited oil and gas reserves to production.
Since its foundation in 1991 in Celle, Germany, C.A.T. oil has built up a
leading hydraulic fracturing service, a very effective method of well
stimulation by cracking rock formations with pressurized fluids, in Russia and
Kazakhstan. Following its IPO in 2006, the Company developed a second core
service of sidetrack drilling in 2006-08 and has established a strong presence
in Russia's sidetrack drilling market. Sidetrack drilling is a term used to
describe drilling of a new wellbore from the upper section of an existing well.
In 2011-12, the Company launched the next phase of its growth and
diversification strategy and set up high class drilling operations as a third
core service offering. High class drilling is the classical technology of
drilling vertical, inclined and horizontal wells for extraction of oil and gas.
In total, the Company has already invested more than EUR 400 million in growth
and diversification since its IPO in 2006.
Following the successful set up of high class drilling in 2011-12, C.A.T. oil
introduced its new segment reporting in 2013 clustering its activities in "Well
Services" (fracturing, cementing and completion operations) and "Drilling,
Sidetracking and IPM (Integrated Project Management)".
C.A.T. oil's customer base includes the leading Russian and Kazakh oil and gas
producers such as Gazprom, Rosneft, Lukoil, TNK-BP and KazMunaiGaz. The Company
has long-standing relationships with these customers and has been a reliable
service provider since its market entrance in the early nineties.
C.A.T. oil has its headquarters in Vienna. The Company's 9M 2013 weighted
average headcount stood at 2,673 people, most of which are based in Russia and
Kazakhstan.
Further inquiry note:
Thomas Krammer
Tel: +49(0)69-92037-183
Email: thomas.krammer@fticonsulting.com
end of announcement euro adhoc
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company: C.A.T. oil AG
Kärntner Ring 11-13
A-1010 Wien
phone: +43(0) 1 535 23 20 - 0
FAX: +43(0) 1 535 23 20 - 20
mail: ir@catoilag.com
WWW: http://www.catoilag.com
sector: Oil & Gas - Upstream activities
ISIN: AT0000A00Y78
indexes: SDAX, Classic All Share, Prime All Share
stockmarkets: regulated dealing/prime standard: Frankfurt
language: English
