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. 4, 6 and 8 of the Austrian Stock Corporation Act

Ternitz, July 18, 2006. The Management Board of Schoeller-Bleckmann Oilfield Equipment AG (SBO), listed on the prime market ATX of the Vienna Stock Exchange, decided to issue a share buyback program on July 17, 2006. The legal authorization of the repurchase of own shares within the time frame of 18 months was obtained at the Annual General Meeting on March 8, 2005 (published on the SBO website at info.sbo.at on March 8, 2005).

In total, up to 800,000 non-par value bearer shares or 5% of the equity capital can be repurchased at a price not below EUR 1 and not above EUR 35. The share buyback program will take place between July 18, 2006 and September 8, 2006. 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 964 (December 31, 2005: 913), 245 at Ternitz, Lower Austria and 504 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

back