Welltec® announces closing of DKK 257 million private placement with PFA

Welltec International ApS (Welltec®) has completed a private placement with PFA, Denmark’s largest pensions fund with more than DKK 350 billion under management and administering the pensions of 9,300 corporate and 500,000 individual customers.

Gross proceeds from the private placement amount to DKK 257 million, securing PFA a minor interest in Welltec®. As a result hereof, the shareholders of Welltec International ApS today resolved at an extraordinary general assembly, to increase the share capital of Welltec International ApS with DKK 150,000. The implied valuation of Welltec® cannot be derived from the published information including the number of newly issued shares as details concerning the company’s existing warrant program are not disclosed.

The proceeds strengthen Welltec’s capital structure and can be used for further development of the company’s business within robotic intervention services and completion solutions to the oil and gas industry.

“We are pleased to welcome PFA as an investor in Welltec®, and we look forward to continue our journey of growth with this high-caliber investor onboard. During the last five years, we have doubled our headcount and transformed Welltec® into a truly global company – and we continue our efforts to grow the business in a controlled and professional manner,” says Jørgen Hallundbæk, CEO of Welltec®.

Welltec® has recorded annual double-digit revenue growth for 3 consecutive years and maintained EBITDA margins of 47-53%. The company’s DKK 1.9-2.1 billion revenue guidance for 2013 represents an expected annual growth rate of 12-24%, and its EBITDA margin is expected to be at or around recent historical levels.

“Welltec® is a high-quality company and an exciting investment case with strong growth prospects within the company’s advanced robotic well intervention services and its promising well completions solutions. The company’s pioneering technology has revolutionized its industry, and Welltec® continues to outgrow competition. The recent induction into the Hall of Fame for Danish Exports is another testament to the quality of Welltec’s services and its ability to transform technological expertise into profitable business,” says Jesper Langmack, Managing Director at PFA Asset Management.

For further information:
Jørgen Hallundbæk, Chief Executive Officer, Welltec®
Søren Jørgensen, Chairman of the Board of Directors, Welltec®
Jesper Langmack, Managing Director, PFA Asset Management

Please contact:
Morten Græsbøll Ottesen, Investor Relations Director, Welltec®,
tel.: +45 22 33 73 08

Company Profile
Welltec® is a leading provider of robotic intervention services and completion solutions to the oil and gas industry. Our pioneering technology enables operators to optimize their use of oil and gas resources throughout the life-cycle of their wells. We address the factors that maximize value creation, continuously innovating to reduce well construction time, speed up access to the hydrocarbons and reduce the capital expenditure burden of more conventional methods. The effect is one of maximizing oil and gas production while minimizing operating down-time.

This is the essence of Welltec’s philosophy; to challenge existing practices and think laterally in order to develop products and services which increase oil and gas recovery while improving the economic, environmental and safety aspects of our industry. In practice we develop, test and manufacture state- of-the- art technology to enhance the recovery and production rates for our clients, thereby improving their profitability through a longer term revenue stream.

Our intervention solutions allow our customers, some of the world’s largest national and independent oil companies, to pursue fields that would not otherwise be economically viable. Our lightweight technology delivers more efficient, more effective, more productive and safer interventions in environments that are becoming increasingly complex, remote and hostile.

In an industry characterized by maturing fields and increasing depletion rates, the premium attached to technology which aids in reversing these trends is continuing to gain momentum. Our value proposition is compelling; our technology enables clients to unlock more production from their assets and to address reservoir complexities and uncertainties with a greater number of options.

Important Notices
Any statement in this announcement that is not a historical fact is a “forward-looking statement”. Such statements may include opinions and expectations regarding Welltec® and its future business, management’s confidence and strategies as well as details of management’s expectations of new and existing programs, technology and market conditions. These forward-looking statements rely on assumptions concerning future events that are subject to a number of risks and uncertainties, many of which are outside Welltec’s control, and which could cause Welltec’s actual results to be materially different from these forward-looking statements. While Welltec® believes that its assumptions concerning future events are reasonable, there are inherent difficulties in predicting certain important factors that could impact the future performance or results of Welltec’s business. Accordingly, such statements should not be regarded as representations as to whether such anticipated events will occur nor that expected objectives will be achieved. Welltec® expressly disclaims any intention or obligation to revise or update any forward-looking statements, whether as a result of new information, future events, or otherwise.


Interim Report Q2-2013

Key highlights
Welltec’s revenue growth increased in the second quarter of 2013 and its EBITDA margin returned to expected levels, as the business began to leverage on the significant investments made earlier in the year. Based on the pace of progress and the outlook for the remainder of the year, however, Welltec® adjusts its revenue forecast for 2013.
Revenue increased by 20% year on year to DKK 481 million with all regions continuing to contribute:
In Europe, Middle East, Africa and Russia CIS (EMEAR), revenues increased by 23% to DKK 256 million
Revenues in the Americas rose by 12% to DKK 161 million
Asia Pacific recorded a revenue increase of 35% to DKK 63 million
Welltec® posted a 21% increase in EBITDA to DKK 224 million, equating to an EBITDA margin of 47% (47% in 2012)
Operating profit (EBIT) increased to DKK 140 million (DKK 117 million)
Welltec® adjusts its full-year revenue forecast to a range of DKK 1.9-2.1 billion (12%-24% growth), against earlier expectations of DKK 2.1-2.3 billion, and maintains expectations of an EBITDA margin at or around recent historical levels.
Jørgen Hallundbæk, CEO: “We were pleased to see a return to familiar levels of profitability in the second quarter, although we are yet to see the expected acceleration in growth. The development underlines the importance of continuously improving the ability to realize our plans. While we deliver excellent service quality and uncompromised safety, it is also vital that we continue to execute on a strong opportunity pipeline. This will ensure that we fully utilize our expanded capacity, accelerate growth and capture the considerable potential we see in our markets and with our clients.”

Investor conference call
Welltec® will discuss its results during an investor conference call today at 5 pm CET. An accompanying slide presentation is available on the “Investors” section of www.welltec.com under the subheading “Download Center”. The conference call can be accessed by dialing in a few minutes before the 5 pm CET start and informing the operator that you are dialing in for Welltec’s investor conference call, conference ID 88510694.

Conference access numbers
Denmark: +45 32 72 80 18
UK: +44 8445 718 957
US: +1 866 682 8490

The call will also be webcast simultaneously on a listen-only basis. Please log in via the “Investor” section of the website in due time to test your browser. A replay of the webcast will then be available following the transmission.

Company Profile
Welltec® is a leading provider of robotic intervention services and completion solutions to the oil and gas industry. Our pioneering technology enables operators to optimize their use of oil and gas resources throughout the life-cycle of their wells. We address the factors that maximize value creation, continuously innovating to reduce well construction time, speed up access to the hydrocarbons and reduce the capital expenditure burden of more conventional methods. The effect is one of maximizing oil and gas production while minimizing operating down-time.

This is the essence of Welltec’s philosophy; to challenge existing practices and think laterally in order to develop products and services which increase oil and gas recovery while improving the economic, environmental and safety aspects of our industry. In practice we develop, test and manufacture state- of-the- art technology to enhance the recovery and production rates for our clients, thereby improving their profitability through a longer term revenue stream.

Our intervention solutions allow our customers, some of the world’s largest national and independent oil companies, to pursue fields that would not otherwise be economically viable. Our lightweight technology delivers more efficient, more effective, more productive and safer interventions in environments that are becoming increasingly complex, remote and hostile.

In an industry characterized by maturing fields and increasing depletion rates, the premium attached to technology which aids in reversing these trends is continuing to gain momentum. Our value proposition is compelling; our technology enables clients to unlock more production from their assets and to address reservoir complexities and uncertainties with a greater number of options.

Important Notices
Any statement in this announcement that is not a historical fact is a “forward-looking statement”. Such statements may include opinions and expectations regarding Welltec® and its future business, management’s confidence and strategies as well as details of management’s expectations of new and existing programs, technology and market conditions. These forward-looking statements rely on assumptions concerning future events that are subject to a number of risks and uncertainties, many of which are outside Welltec’s control, and which could cause Welltec’s actual results to be materially different from these forward-looking statements. While Welltec® believes that its assumptions concerning future events are reasonable, there are inherent difficulties in predicting certain important factors that could impact the future performance or results of Welltec’s business. Accordingly, such statements should not be regarded as representations as to whether such anticipated events will occur nor that expected objectives will be achieved. Welltec® expressly disclaims any intention or obligation to revise or update any forward-looking statements, whether as a result of new information, future events, or otherwise.

For further information, please contact:
Jesper Helmuth Larsen, Chief Financial Officer,
mobile: +45 23 29 26 00

Morten Græsbøll Ottesen, Investor Relations Director,
mobile: +45 22 33 73 08


Q2-2013 Report and Investor Conference Call announcement

Welltec® will disclose its interim quarterly financial report for Q2-2013 on Thursday 22 August 2013 and will discuss the results during an investor conference call.

The investor conference call will take place on Thursday 22 August 2013 at 5 pm CET.

An accompanying slide presentation will be available on the “Investor” section of Welltec’s website at www.welltec.com under the subheading “Download Center”.

The teleconference can be accessed by dialing in a few minutes before start and telling the operator that you would like to participate in Welltec’s investor conference call, conference ID 88510694.

The call will also be webcast simultaneously on a listen-only basis. Please log in via the “Investor” section of the website in due time to test your browser. A replay of the webcast will then be available following the transmission.

Conference Call Access Numbers:
Denmark: +45-3272-8018
United Kingdom: +44-8445-718-957
USA: +1-866-682-8490

For further information, please contact:
Jesper Helmuth Larsen, CFO, Cell: +45 2329 2600

Company Profile
Welltec® is a leading provider of robotic intervention services and completion solutions to the oil and gas industry. Our pioneering technology enables operators to optimize their use of oil and gas resources throughout the life-cycle of their wells. We address the factors that maximize value creation, continuously innovating to reduce well construction time, speed up access to the hydrocarbons and reduce the capital expenditure burden of more conventional methods. The effect is one of maximizing oil and gas production while minimizing operating down-time.

This is the essence of Welltec’s philosophy; to challenge existing practices and think laterally in order to develop products and services which increase oil and gas recovery while improving the economic, environmental and safety aspects of our industry. In practice we develop, test and manufacture state- of-the-art technology to enhance the recovery and production rates for our clients, thereby improving their profitability through a longer term revenue stream.

Our intervention solutions allow our customers, some of the world’s largest national and independent oil companies, to pursue fields that would not otherwise be economically viable.

Our lightweight technology delivers more efficient, more effective, more productive and safer interventions in environments that are becoming increasingly complex, remote and hostile.

In an industry characterized by maturing fields and increasing depletion rates, the premium attached to technology which aids in reversing these trends is continuing to gain momentum. Our value proposition is compelling; our technology enables clients to unlock more production from their assets and to address reservoir complexities and uncertainties with a greater number of options.


Interim Report Q1 – 2013

INTERIM REPORT Q1 – 2013

Welltec’s revenue growth eased in the first quarter following the exceptional performance in the third and fourth quarters of 2012. EBITDA was reduced due to a combination of lower quarterly revenues and the significant investments in operational capacity in order to deliver the continued growth. As seen in previous quarters, this front-loading of additional costs has a short-term impact on margins and is a consequence of the continued growth cycle. Accordingly, Welltec® upholds its revenue and earnings forecast for the full-year.
Revenue increased by 18% year on year to DKK 428 million with all regions again contributing:
In Europe, Middle East, Africa and Russia CIS (EMEAR), revenues increased by 12% to DKK 220 million
Revenues in the Americas rose by 18% to DKK 152 million
Asia Pacific recorded a revenue increase of 46% to DKK 56 million
Welltec® posted an 11% decrease in EBITDA to DKK 154 million, equating to an EBITDA margin of 36% (48% in 2012)
Operating profit (EBIT) decreased to DKK 79 million (DKK 108 million)
Welltec® maintains its full-year revenue forecast in the range of DKK 2.1-2.3 billion (24%-35% growth) and holds expectations of an EBITDA margin at or around recent historic levels.
Jørgen Hallundbæk, CEO: “During the first quarter we have continued to see many positive developments around the world. In India, our e-line technologies are increasing production without the need for a rig or coiled tubing unit, proving our value proposition in the early stages of our partnerships there. Also in the Middle East, with another successful deployment of our award winning Well CutterTM tool. With the investments made in recent quarters, Welltec® is well positioned to deliver the growth planned for 2013 and beyond.”

Investor conference call
Welltec® will discuss its results during an investor conference call today at 5 pm CET. An accompanying slide presentation is available on the “Investors” section of www.welltec.com under the subheading “Download Center”. A Danish version of these key highlights can also be downloaded. The conference call can be accessed by dialling in a few minutes before the 5 pm CET start and informing the operator that you are dialling in for Welltec’s investor conference call, conference ID 53914435.

Conference access numbers
Denmark: +45 32 72 80 18
UK: +44 8445 718 957
US: +1 866 682 8490
The presentation and a web-cast recording of the investor conference call will be available online following today’s live transmission.

For further information, please contact:
Jesper Helmuth Larsen, Chief Financial Officer, mobile: +45 23 29 26 00
Morten Græsbøll Ottesen, Investor Relations Director, mobile: +45 22 33 73 08

Company Profile
Welltec®is a leading provider of robotic intervention services and completion solutions to the oil and gas industry. Our pioneering technology enables operators to optimize their use of oil and gas resources throughout the life-cycle of their wells. We address the factors that maximize value creation, continuously innovating to reduce well construction time, speed up access to the hydrocarbons and reduce the capital expenditure burden of more conventional methods. The effect is one of maximizing oil and gas production while minimizing operating down-time.

This is the essence of Welltec’s philosophy; to challenge existing practices and think laterally in order to develop products and services which increase oil and gas recovery while improving the economic, environmental and safety aspects of our industry. In practice we develop, test and manufacture state-of-the art technology to enhance the recovery and production rates for our clients, thereby improving their profitability through a longer term revenue stream.

Our intervention solutions allow our customers, some of the world’s largest national and independent oil companies, to pursue fields that would not otherwise be economically viable. Our lightweight technology delivers more efficient, more effective, more productive and safer interventions in environments that are becoming increasingly complex, remote and hostile.

In an industry characterized by maturing fields and increasing depletion rates, the premium attached to technology which aids in reversing these trends is continuing to gain momentum. Our value proposition is compelling; our technology enables clients to unlock more production from their assets and to address reservoir complexities and uncertainties with a greater number of options.

Important Notices
Any statement in this announcement that is not a historical fact is a “forward-looking statement”. Such statements may include opinions and expectations regarding the Company and its future business, management’s confidence and strategies as well as details of management’s expectations of new and existing programs, technology and market conditions. These forward-looking statements rely on assumptions concerning future events that are subject to a number of risks and uncertainties, many of which are outside the Company’s control, and which could cause the Company’s actual results to be materially different from these forward-looking statements. While the Company believes that its assumptions concerning future events are reasonable, there are inherent difficulties in predicting certain important factors that could impact the future performance or results of the Company’s business. Accordingly, such statements should not be regarded as representations as to whether such anticipated events will occur nor that expected objectives will be achieved. The Company expressly disclaims any intention or obligation to revise or update any forward-looking statements, whether as a result of new information, future events, or otherwise..


Q1-2013 Report and Investor Conference Call announcement.

Welltec will disclose its interim quarterly financial report for Q1-2013 on Thursday 16 May 2013 and will discuss the results during an investor conference call.

The investor conference call will take place on Thursday 16 May 2013 at 5 pm CET.

An accompanying slide presentation will be available on the “Investor” section of Welltec’s website at www.welltec.com under the subheading “Download Centre” before the teleconference.

The conference call can be accessed by dialing in a few minutes before the 5 pm CET start and informing the operator that you are dialing in for Welltec’s investor conference call, conference ID 53914435.

Conference Call Access Numbers:
Denmark: +45-32728018
United Kingdom: +44-8445-718-957
USA: +1-866-682-8490

For further information, please contact:
Jesper Helmuth Larsen, CFO, Cell: +45 2329 2600

Company Profile
Welltec® is a leading provider of robotic intervention services and completion solutions to the oil and gas industry. Our pioneering technology enables operators to optimize their use of oil and gas resources throughout the life-cycle of their wells. We address the factors that maximize value creation, continuously innovating to reduce well construction time, speed up access to the hydrocarbons and reduce the capital expenditure burden of more conventional methods. The effect is one of maximizing oil and gas production while minimizing operating down-time.

This is the essence of Welltec’s philosophy; to challenge existing practices and think laterally in order to develop products and services which increase oil and gas recovery while improving the economic, environmental and safety aspects of our industry. In practice we develop, test and manufacture state- of-the-art technology to enhance the recovery and production rates for our clients, thereby improving their profitability through a longer term revenue stream.

Our intervention solutions allow our customers, some of the world’s largest national and independent oil companies, to pursue fields that would not otherwise be economically viable.
Our lightweight technology delivers more efficient, more effective, more productive and safer interventions in environments that are becoming increasingly complex, remote and hostile.

In an industry characterized by maturing fields and increasing depletion rates, the premium attached to technology which aids in reversing these trends is continuing to gain momentum. Our value proposition is compelling; our technology enables clients to unlock more production from their assets and to address reservoir complexities and uncertainties with a greater number of options.


Annual Report 2012

The Board of Directors of Welltec International ApS (“Welltec”) has today approved the annual report for 2012.

Key Highlights
Welltec® delivered a strong financial performance in 2012, combining accelerated growth with high profitability and solid cash generation. The results are higher than anticipated in the outlook provided in the Annual Report 2011 and in line with the guidance presented in Welltec’s interim report for the third quarter.

Revenues increased by 39% to DKK 1,701 million and all regions continued to contribute:
Revenue in Europe, Middle East, Africa and Russia/CIS (EMEAR) increased by 32% to DKK 875 million
In the Americas, revenues rose by 36% to DKK 618 million
Asia Pacific recorded a revenue increase of 97% to DKK 208 million
Welltec® posted a 35% increase in EBITDA to DKK 802 million equating to an EBITDA margin of 47% (49% in 2011)
Operating profit (EBIT) increased by 62% to DKK 492 million
Welltec® net profit increased by 44% to DKK 129 million
Management expects continued growth in revenue and EBITDA in 2013. Revenue is expected to be in the range of DKK 2.1 billion to 2.3 billion (24 – 35% growth) with an EBITDA margin expected to be at or around recent historic levels.
Jørgen Hallundbæk, CEO: “2012 was another great year of achievements at Welltec®. We continued our growth journey while managing to uphold strong levels of profitability and deliver superior services at the highest possible technological standard. Our success is testament to the fact that Welltec’s solutions consistently enable our customers to extract significant value beyond cost. And following our strong operational and financial performance, we will continue our work to take Welltec® to the next level in 2013.”

The annual report is available on the “Investors” section of Welltec’s website at www.welltec.com under the subheading “Download Center”.

Investor conference call
Welltec® will discuss its results during an investor conference call today at 5 pm CET. An accompanying slide presentation is also available on the “Investors” section of www.welltec.com under the subheading “Download Center”. The conference call can be accessed by dialling in a few minutes before the 5 pm CET start and informing the operator that you are dialling in for Welltec’s investor conference call, conference ID 86717268.

Conference Call Access Numbers:
Denmark: +45-32728018
United Kingdom: +44-8445-718-957
USA: toll free +1-866-682-8490

For further information, please contact:
Jesper Helmuth Larsen, Chief Financial Officer, mobile:+45 23 29 26 00
Morten Græsbøll Ottesen, Investor Relations Director, mobile: +45 22 33 73 08

Company Profile
Welltec® is a leading provider of robotic intervention services and completion solutions to the oil and gas industry. Our pioneering technology enables operators to optimize their use of oil and gas resources throughout the life-cycle of their wells. We address the factors that maximize value creation, continuously innovating to reduce well construction time, speed up access to the hydrocarbons and reduce the capital expenditure burden of more conventional methods. The effect is one of maximizing oil and gas production while minimizing operating time.

This is the essence of Welltec’s philosophy; to challenge existing practices and think laterally in order to develop products and services which increase oil and gas recovery while improving the economic, environmental and safety aspects of our industry. In practice we develop, test and manufacture state- of-the-art technology to enhance the recovery and production rates for our clients, thereby improving their profitability through a longer term revenue stream.

Our intervention solutions allow our customers, some of the world’s largest national and independent oil companies, to pursue fields that would not otherwise be economically viable.
Our lightweight technology delivers more efficient, more effective, more productive and safer interventions in environments that are becoming increasingly complex, remote and hostile.

In an industry characterized by maturing fields and increasing depletion rates, the premium attached to technology which aids in reversing these trends is continuing to gain momentum. Our value proposition is compelling; our technology enables clients to unlock more production from their assets and to address reservoir complexities and uncertainties with a greater number of options.

Important Notices
Any statement in this announcement that is not a historical fact is a “forward-looking statement”. Such statements may include opinions and expectations regarding the Company and its future business, management’s confidence and strategies as well as details of management’s expectations of new and existing programs, technology and market conditions. These forward-looking statements rely on assumptions concerning future events that are subject to a number of risks and uncertainties, many of which are outside the Company’s control, and which could cause the Company’s actual results to be materially different from these forward-looking statements. While the Company believes that its assumptions concerning future events are reasonable, there are inherent difficulties in predicting certain important factors that could impact the future performance or results of the Company’s business. Accordingly, such statements should not be regarded as representations as to whether such anticipated events will occur nor that expected objectives will be achieved. The Company expressly disclaims any intention or obligation to revise or update any forward-looking statements, whether as a result of new information, future events, or otherwise.


Welltec announces payment of interest January 2013

Welltec announces payment of interest.
Pursuant to the Rules and Regulations of the Luxembourg Stock Exchange (edition 2012/07), section 903 and section 904(vi) it is noted that Welltec A/S has paid interest on the bonds per 30 January 2013.

For further information, please contact:
Jesper Helmuth Larsen, CFO, Cell: +45 2329 2600

About Welltec
Welltec is a leading provider of well intervention services to the oil and gas industry using robotic technology. We are also expanding into well completion products and solutions. Our services and solutions enhance well production performance and increase the amount of recoverable oil and gas reserves in reservoirs. We provide our services and solutions for onshore and offshore oil and gas wells and operate in deepwater, subsea, Arctic, high-yield, heavy oil, geothermal and unconventional environments as well as conventional environments. We operate in all hydrocarbon producing areas and had, as of December 31, 2011, 793 dedicated employees in 24 countries. For the twelve months ended December 31, 2011, we had revenues and EBITDA of approximately DKK 1,220 million and DKK 593 million, respectively (or approximately US$ 212 million and US$ 103 million, respectively).


Q3-2012 Report and Investor Conference Call and home member state announcement

Welltec will disclose its interim quarterly financial report for Q3-2012 on Wednesday 21 November 2012 and will discuss the results during an investor conference call.

The investor conference call will take place on Wednesday 21 November 2012 at 5 pm CET.

An accompanying slide presentation will be available on the “Investor” section of Welltec’s website at www.welltec.com under the subheading “Download Centre” before the teleconference.

The conference call can be accessed by dialing in a few minutes before the 5 pm CET start and telling the operator that you are dialing in for Welltec’s investor conference call, conference ID 70686652.

Conference Call Access Numbers:
Denmark: +45-3272-8018
United Kingdom: +44-8445-718-957
USA: +1-866-682-8490

For further information, please contact:
Jesper Helmuth Larsen, CFO, Cell: +45 2329 2600

About Welltec
Welltec is a leading provider of well intervention services to the oil and gas industry using robotic technology. We are also expanding into well completion products and solutions. Our services and solutions enhance well production performance and increase the amount of recoverable oil and gas reserves in reservoirs. We provide our services and solutions for onshore and offshore oil and gas wells and operate in deepwater, subsea, Arctic, high-yield, heavy oil, geothermal and unconventional environments as well as conventional environments. We operate in all hydrocarbon producing areas and had, as of December 31, 2011, 793 dedicated employees in 24 countries. For the twelve months ended December 31, 2011, we had revenues and EBITDA of approximately DKK 1,220 million and DKK 593 million, respectively (or approximately US$ 212 million and US$ 103 million, respectively).

Important Notices
This press release contains forward-looking statements. These statements reflect current beliefs, as well as assumptions made by, and information available to, Welltec. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties. Actual future results and developments could differ materially from those set forth in these statements due to various factors.


Q2-2012 Report and Investor Conference Call and home member state announcement

Welltec will disclose its interim quarterly financial report for Q2-2012 on Thursday 23 August 2012 and will discuss the results during an investor conference call.

The investor conference call will take place on Thursday 23 August 2012 at 5 pm CET.

An accompanying slide presentation will be available on the “Investor” section of Welltec’s website at www.welltec.com under the subheading “Download Centre” before the teleconference.

The conference call can be accessed by dialing in a few minutes before the 5 pm CET start and telling the operator that you are dialing in for Welltec’s investor conference call, conference ID 22065564.

Conference Call Access Numbers:
Denmark: +45-3272-7625, toll free +45-8088-8464
United Kingdom: +44-8444-933-800, toll free +44-8006-940-257
USA: +1-631-510-7498, toll free +1-866-966-9439

Pursuant to the Rules and Regulations of the Luxembourg Stock Exchange (edition 2009/08), section 903 and section 904(vi) it is noted that Welltec has paid interest on the bonds per 1 August 2012.

For further information, please contact:
Jesper Helmuth Larsen, CFO, Cell: +45 2329 2600

About Welltec
Welltec is a leading provider of well intervention services to the oil and gas industry using robotic technology. We are also expanding into well completion products and solutions. Our services and solutions enhance well production performance and increase the amount of recoverable oil and gas reserves in reservoirs. We provide our services and solutions for onshore and offshore oil and gas wells and operate in deepwater, subsea, Arctic, high-yield, heavy oil, geothermal and unconventional environments as well as conventional environments. We operate in all hydrocarbon producing areas and had, as of December 31, 2011, 793 dedicated employees in 24 countries. For the twelve months ended December 31, 2011, we had revenues and EBITDA of approximately DKK 1,220 million and DKK 593 million, respectively (or approximately US$ 212 million and US$ 103 million, respectively).

Important Notices
This press release contains forward-looking statements. These statements reflect current beliefs, as well as assumptions made by, and information available to, Welltec. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties. Actual future results and developments could differ materially from those set forth in these statements due to various factors.