Ronald Harder to become new Chief Financial Officer of C.A.T. oil AG
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October 30, 2006 - Austrian C.A.T. oil AG (O2C, ISIN: AT0000A00Y78), one of the leading providers of oil and gasfield services in Russia and Kazakhstan, has announced the appointment of Ronald Harder (43) to the position of Chief Financial Officer effective November 1, 2006.
Ronald Harder succeeds Egbert Diehl, who turns 65 in January 2007. After having contributed to the preparation and management of the successful IPO as well as to the publication of the companys initial quarterly reports, the outgoing CFO now wants to devote more time to his consulting firm and his real estate investments. Egbert Diehl will leave C.A.T. oil on November 15, 2006, but will continue to serve the company as a consultant.
Ronald Harder has extensive experience in the management of publicly listed companies. Prior to joining C.A.T. oil AG Harder was employed by B&L Immobilien AG, Hamburg, where he had been sole Executive Board member since 2003. Prior to that Harder served as CFO of Datasave AG, Hamburg, and as CFO of zapwerk AG, Hamburg. He began his professional career with Hamburger Sparkasse, where he worked in various positions for a period of 19 years. In 2000, as Head of Finance and Accounting, he played a major role in the creation of Hanseatische i-Bank AG, the direct bank subsidiary of Hamburger Sparkasse.
"We thank Egbert Diehl for his outstanding efforts in preparing C.A.T. oil AG for the IPO. During the first half-year following the IPO he also contributed significantly to solidifying investor confidence by representing the company in the capital markets. In Ronald Harder we have acquired an experienced and qualified successor, who can be counted on to fully support C.A.T. oil AG in its growth and who will continue to communicate effectively with our investors," said Dr. Gerhard Strate, Chairman of the Supervisory Board of C.A.T. oil AG.
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.oils 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.
Rückfragehinweis:
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: Öl und Gas Exploration
ISIN: AT0000A00Y78
WKN: A0IKWU
Börsen: Frankfurter Wertpapierbörse / Amtlicher Markt