Investor Relations

Schoeller-Bleckmann Oilfield Equipment AG: Notification of the intended purchase of own shares of the Company pursuant to section 65 para 1 no. 8 and also para 1a and 1b of the Austrian Stock Corporation Act 

Ternitz, June 8, 2007: The Management Board of Schoeller-Bleckmann Oilfield Equipment AG (SBO), listed on the Vienna Stock Exchange, decided to issue a share buyback program on June 6, 2007. The legal authorization of the repurchase of own shares within the time frame of 18 months was obtained at the Annual General Meeting on April 19, 2007 (published on the SBO website at info.sbo.at on April 23, 2007).  

In total, up to 1.600.000 shares or 10% of the equity capital can be repurchased at a price not below € 1,-- and not above € 100,--. The share buyback program will take place between June 11, 2007 and October 18, 2008. The repurchased own shares are used for possible future employee participation schemes or for establishing an option for using the Company's own shares to acquire shareholdings. The Company shall reserve the right to also use the repurchased shares for other purposes that are in line with the authorization granted by the General Meeting. The Company’s own shares are repurchased via the stock exchange. 

Schoeller-Bleckmann Oilfield Equipment AG is the global market leader in high-precision components for the oilfield service industry. The business focus is on non-magnetic drillstring components for challenging directional drilling. Worldwide, SBO employs a workforce of 1.119 (December 31, 2006: 1.086), 325 at Ternitz, Lower Austria and 568 in North America (including Mexico). 

For further information please contact:
Gerald Grohmann, President and CEO
Schoeller-Bleckmann Oilfield Equipment AG
A-2630 Ternitz, Hauptstraße 2
Tel: +43 2630/315 DW 110, Fax: DW 101
E-Mail: sboe@sbo.co.at

Mick Stempel, Hochegger|Financials
Tel.:+43 1/504 69 87 DW 85
E-Mail: m.stempel@hochegger.com