Dijols breaks silence on CAT Oil takeover (updated)

Petro Welt Technologies AG

06/11/2014 09:31

* Ex-Schlumberger exec Dijols behind CAT Oil takeover 
approach 
    * Pledges quick talks with CAT management 
    * Says details of cash offer to emerge once bid approved 
 
    VIENNA, Nov 6 (Reuters) - Oil industry veteran Maurice 
Dijols pledged quick talks with CAT oil  O2C.DE  management and 
has only the "best intentions" for the Austrian fracking 
specialist, his investment vehicle said on Thursday, breaking 
its silence on its takeover plans. 
    The remarks from the former head of Schlumberger Russia come 
a day after German-listed CAT oil appealed to the offshore 
bidder to reveal its intentions and strategy following its stake 
purchase that triggered a mandatory offer.  ID:nL6N0SV4IU  
    Joma Industrial Source Corp, the British Virgin 
Islands-based takeover vehicle, built an indirect controlling 
interest of nearly 48 percent in CAT oil by exercising a call 
option for the stake held by German tax adviser Walter Hoeft, 
Joma said.  
    It said it would publish on website www.joma-offer.de 
details of its cash takeover offer as soon as it was approved by 
German regulator BaFin.  
    Joma said it would give CAT "a substantial boost in industry 
know-how in its core markets, especially in Russia and 
Kazakhstan" because Dijols, 63, was behind the deal. 
     French-born Dijols spent more than three decades at Dutch 
oilfield services group Schlumberger, including as head of its 
Russia business from 2003 to 2011, it said, adding he is also on 
supervisory boards at Eurasia Drilling Co, IG Seismic Services 
and RusPetro. 
    Buying the CAT stake is "proof of the positive outlook for 
the Austrian oil drilling company", it said, adding it would 
soon invite CAT management to talks on its strategy. 
    CAT shares eased 0.2 percent to 14.97 euros by 0900 GMT, 
giving it a market capitalisation of around 735 million 
euros($919 million). 
    CAT oil specialises in boosting productivity of wells via 
hydraulic fracturing, known as fracking. Its customers include 
Lukoil  LKOH.MM , Rosneft  ROSN.MM , Gazprom  GAZP.MM  and 
Kazmunaigas  RDGZ.KZ . 
(1 US dollar = 0.7997 euro) 
 
 (Reporting by Michael Shields and Angelika Gruber; editing by 
Susan Thomas) 
 ((Michael.Shields@thomsonreuters.com; +43 1 531 12 258; Reuters 
Messaging: michael.shields.thomsonreuters.com@reuters.net)) 
 
Keywords: CAT OIL JOMA/