C.A.T. oil Enters 2012 with Strong Order Book of EUR 267 Million
Top 5 customers placed new orders worth EUR 267 million
Current volume surpasses prior-year order book by 20%
First orders for new high-class conventional drilling rigs included
Additional tenders expected as conventional drilling expansion
continues
C.A.T. oil AG (O2C, ISIN: AT0000A00Y78), one of the leading
providers of oil and gas field services in Russia and Kazakhstan, has
been successful in the 2012 tendering campaign: as of 1 March 2012, the
Company′s order book peaked at EUR 267 million (based on a
rouble-to-euro exchange rate of 40). Compared to the same period last
year this represents an increase of 20%. In addition to the 2012 tenders
C.A.T. oil already received first assignments for 2013. The total volume
of orders has surpassed the EUR 300 million mark, currently amounting to
EUR 306 million for 2012 and 2013.
Manfred Kastner, CEO of C.A.T. oil, said: 'We have pro-actively entered
the 2012 tendering campaign once again targeting at a new record high of
order intakes. The current level of our 2012 order book represents an
impressive increase of 20% over the last year and clearly demonstrates
our strong reputation in the market for delivering high-class services
based on state-of-the-art technology. We experienced a particularly
strong demand for our new conventional drilling rigs which once again
confirmed our decision to enter into this attractive market segment.?
Historically, at the beginning of a year C.A.T. oil has been able to
book in advance approximately 80% of each year′s annual orders. As part
of its business expansion, C.A.T. oil started to market another six new
high-class conventional drilling rigs which have already been delivered
and prepared for operations. C.A.T. oil is therefore very well
positioned to expand its order book volume in the course of the year and
anticipates additional intakes.
'We are very proud of the results of the tendering campaign laying the
basis for a successful financial year 2012. With our new conventional
drilling rigs being marketed at premium to the current market rates and
further capacities on-hand we are well positioned for additional
profitable growth.? Manfred Kastner said.
On April 30, 2012 C.A.T. oil will publish its results for Fiscal Year
2011 and provide an outlook for Fiscal Year 2012.
Press contact:
FTI Consulting
Thomas M. Krammer
Phone:+49-(0)69-92037-0
Email:thomas.krammer@fticonsulting.com
or
IR
contact:
C.A.T. oil AG
ir@catoilag.com
