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\ue000
UNITED\ue000 STATES
SECURITIES\ue000 AND\ue000 EXCHANGE\ue000 COMMISSION
Washington,\ue000 D.C.\ue000 20549
________________
FORM\ue000 10-K
(Mark\ue000 One)
\ue000
\ue000
X ANNUAL\ue000 REPORT\ue000 PURSUANT\ue000 TO\ue000 SECTION\ue000 13\ue000 OR\ue000 15(d)\ue000 OF\ue000 THE\ue000 SECURITIES\ue000 EXCHANGE\ue000 ACT\ue000 OF\ue000 1934
\ue000
\ue000
\ue000
For\ue000 the\ue000 fiscal\ue000 year\ue000 ended\ue000 December\ue000 31,\ue000 2008
\ue000
\ue000
\ue000
OR
\ue000
TRANSITION\ue000 REPORT\ue000 PURSUANT\ue000 TO\ue000 SECTION\ue000 13\ue000 OR\ue000 15(d)\ue000 OF\ue000 THE\ue000 SECURITIES\ue000 EXCHANGE\ue000 ACT\ue000 OF\ue000 1934
\ue000
For\ue000 the\ue000 transition\ue000 period\ue000 from\ue000__________to\ue000 \ue000__________
Commission\ue000 File\ue000 Number\ue000 001-14273
CORE\ue000 LABORATORIES\ue000 N.V.
(Exact\ue000 name\ue000 of\ue000 registrant\ue000 as\ue000 specified\ue000 in\ue000 its\ue000 charter)
The\ue000 Netherlands
Not\ue000 Applicable
(State\ue000 or\ue000 other\ue000 jurisdiction\ue000 of\ue000 incorporation\ue000 or\ue000 organization)
(I.R.S.\ue000 Employer\ue000 Identification\ue000 No.)
\ue000
\ue000
Herengracht\ue000 424
\ue000
1017\ue000 BZ\ue000 Amsterdam
\ue000
The\ue000 Netherlands
Not\ue000 Applicable
(Address\ue000 of\ue000 principal\ue000 executive\ue000 offices)
(Zip\ue000 Code)
\ue000
\ue000
Registrant's\ue000 telephone\ue000 number,\ue000 including\ue000 area\ue000 code:\ue000(31-20)\ue000 420-3191
Securities\ue000 registered\ue000 pursuant\ue000 to\ue000 Section\ue000 12(b)\ue000 of\ue000 the\ue000 Act:
Title\ue000 of\ue000 each\ue000 class
Name\ue000 of\ue000 exchange\ue000 on\ue000 which\ue000 registered
Common\ue000 Shares,\ue000 EUR\ue000 0.04\ue000 Par\ue000 Value\ue000 Per\ue000 Share
New\ue000 York\ue000 Stock\ue000 Exchange

Securities\ue000 registered\ue000 pursuant\ue000 to\ue000 Section\ue000 12(g)\ue000 of\ue000 the\ue000 Act:\ue000 None
Indicate\ue000 by\ue000 check\ue000 mark\ue000 if\ue000 the\ue000 registrant\ue000 is\ue000 a\ue000 well-known\ue000 seasoned\ue000 issuer,\ue000 as\ue000 defined\ue000 in\ue000 Rule\ue000 405\ue000 of\ue000 the\ue000 Securities\ue000 Act.\ue000 Yes\ue000 _X_\ue000 No\ue000 __
Indicate\ue000 by\ue000 check\ue000 mark\ue000 if\ue000 the\ue000 registrant\ue000 is\ue000 not\ue000 required\ue000 to\ue000 file\ue000 reports\ue000 pursuant\ue000 to\ue000 Section\ue000 13\ue000 or\ue000 Section\ue000 15(d)\ue000 of\ue000 the\ue000 Exchange\ue000 Act.\ue000 Yes\ue000 __\ue000 No

_X_

Indicate\ue000 by\ue000 check\ue000 mark\ue000 whether\ue000 the\ue000 registrant\ue000 (1)\ue000 has\ue000 filed\ue000 all\ue000 reports\ue000 required\ue000 to\ue000 be\ue000 filed\ue000 by\ue000 Section\ue000 13\ue000 or\ue000 15(d)\ue000 of\ue000 the\ue000 Securities\ue000 Exchange\ue000 Act of\ue000 1934\ue000 during\ue000 the\ue000 preceding\ue000 12\ue000 months\ue000 (or\ue000 for\ue000 such\ue000 shorter\ue000 period\ue000 that\ue000 the\ue000 registrant\ue000 was\ue000 required\ue000 to\ue000 file\ue000 such\ue000 reports),\ue000 and\ue000 (2)\ue000 has\ue000 been subject\ue000 to\ue000 such\ue000 filing\ue000 requirements\ue000 for\ue000 the\ue000 past\ue000 90\ue000 days.\ue000 Yes\ue000 __X__\ue000 No\ue000 ___

Indicate\ue000 by\ue000 check\ue000 mark\ue000 if\ue000 disclosure\ue000 of\ue000 delinquent\ue000 filers\ue000 pursuant\ue000 to\ue000 Item\ue000 405\ue000 of\ue000 Regulation\ue000 S-K\ue000 is\ue000 not\ue000 contained\ue000 herein,\ue000 and\ue000 will\ue000 not\ue000 be contained,\ue000 to\ue000 the\ue000 best\ue000 of\ue000 registrant's\ue000 knowledge,\ue000 in\ue000 definitive\ue000 proxy\ue000 or\ue000 information\ue000 statements\ue000 incorporated\ue000 by\ue000 reference\ue000 in\ue000 Part\ue000 III\ue000 of\ue000 this\ue000 Form 10-K\ue000 or\ue000 any\ue000 amendment\ue000 to\ue000 this\ue000 Form\ue000 10-K.\ue000 _X_

Processed and formatted by SEC Watch - Visit SECWatch.com
Indicate\ue000 by\ue000 check\ue000 mark\ue000 whether\ue000 the\ue000 registrant\ue000 is\ue000 a\ue000 large\ue000 accelerated\ue000 filer,\ue000 an\ue000 accelerated\ue000 filer,\ue000 a\ue000 non-accelerated\ue000 filer\ue000 or\ue000 a\ue000 smaller\ue000 reporting
company.\ue000 See\ue000 definition\ue000 of\ue000 "large\ue000 accelerated\ue000 filer,"\ue000 "accelerated\ue000 filer"\ue000 and\ue000 "smaller\ue000 reporting\ue000 company"\ue000 in\ue000 Rule\ue000 12b-2\ue000 of\ue000 the\ue000 Exchange\ue000 Act.
\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000Large\ue000 accelerated\ue000 filer\ue000 _X_\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000Accelerated\ue000 filer\ue000 ___\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000Non-accelerated\ue000 filer
___\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000 Smaller\ue000 reporting\ue000 company\ue000 ___
\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000&n\ue000 bsp;\ue000\ue000\ue000\ue000\ue000\ue000(Do\ue000 not\ue000 check\ue000 if\ue000 a\ue000 smaller\ue000 reporting\ue000 company)
Indicate\ue000 by\ue000 check\ue000 mark\ue000 whether\ue000 the\ue000 registrant\ue000 is\ue000 a\ue000 shell\ue000 company\ue000 (as\ue000 defined\ue000 in\ue000 Rule\ue000 12b-2\ue000 of\ue000 the\ue000 Act).\ue000 Yes\ue000 __\ue000 No\ue000 _X_
As\ue000 of\ue000 June\ue000 30,\ue000 2008,\ue000 the\ue000 number\ue000 of\ue000 common\ue000 shares\ue000 outstanding\ue000 was\ue000 23,004,018.\ue000 At\ue000 that\ue000 date,\ue000 the\ue000 aggregate\ue000 market\ue000 value\ue000 of\ue000 common\ue000 shares
held\ue000 by\ue000 non-affiliates\ue000 of\ue000 the\ue000 registrant\ue000 was\ue000 approximately\ue000 $3,089,395,004.
As\ue000 of\ue000 February\ue000 18,\ue000 2009,\ue000 the\ue000 number\ue000 of\ue000 common\ue000 shares\ue000 outstanding\ue000 was\ue000 22,922,783.
DOCUMENTS\ue000 INCORPORATED\ue000 BY\ue000 REFERENCE

The\ue000 information\ue000 required\ue000 by\ue000 Part\ue000 III\ue000 of\ue000 this\ue000 Report,\ue000 to\ue000 the\ue000 extent\ue000 not\ue000 set\ue000 forth\ue000 herein,\ue000 is\ue000 incorporated\ue000 herein\ue000 by\ue000 reference\ue000 from\ue000 the\ue000 registrant's definitive\ue000 proxy\ue000 statement\ue000 relating\ue000 to\ue000 the\ue000 Annual\ue000 Meeting\ue000 of\ue000 Shareholders\ue000 to\ue000 be\ue000 held\ue000 in\ue000 2009,\ue000 which\ue000 definitive\ue000 proxy\ue000 statement\ue000 shall\ue000 be\ue000 filed with\ue000 the\ue000 Securities\ue000 and\ue000 Exchange\ue000 Commission\ue000 within\ue000 120\ue000 days\ue000 after\ue000 the\ue000 end\ue000 of\ue000 the\ue000 fiscal\ue000 year\ue000 to\ue000 which\ue000 this\ue000 Report\ue000 relates.

This\ue000 document\ue000 (excluding\ue000 exhibits)\ue000 contains\ue000 65\ue000 pages.
The\ue000 table\ue000 of\ue000 contents\ue000 is\ue000 set\ue000 forth\ue000 on\ue000 the\ue000 following\ue000 page.\ue000 The\ue000 exhibit\ue000 index\ue000 begins\ue000 on\ue000 page\ue000 28.
\ue000
\ue000
\ue000

CORE\ue000 LABORATORIES\ue000 N.V.
FORM\ue000 10-K\ue000 FOR\ue000 THE\ue000 FISCAL\ue000 YEAR\ue000 ENDED\ue000 DECEMBER\ue000 31,\ue000 2008
TABLE\ue000 OF\ue000 CONTENTS

Page
\ue000
\ue000
\ue000
PART\ue000 I
Item\ue000 1.
Business
1
Item\ue000 1A.
Risk\ue000 Factors
7
Item\ue000 1B.
Unresolved\ue000 Staff\ue000 Comments
9
Item\ue000 2.
Properties
9
Item\ue000 3.
Legal\ue000 Proceedings
10
Item\ue000 4.
Submission\ue000 of\ue000 Matters\ue000 to\ue000 a\ue000 Vote\ue000 of\ue000 Security\ue000 Holders
10
PART\ue000 II
Item\ue000 5.
Market\ue000 for\ue000 Registrant's\ue000 Common\ue000 Equity,\ue000 Related\ue000 Stockholder\ue000 Matters\ue000 and\ue000 Issuer\ue000 Purchases\ue000 of\ue000 Equity\ue000 Securities
11
Item\ue000 6.
Selected\ue000 Financial\ue000 Data
12
Item\ue000 7.
Management's\ue000 Discussion\ue000 and\ue000 Analysis\ue000 of\ue000 Financial\ue000 Condition\ue000 and\ue000 Results\ue000 of\ue000 Operation
13
Item\ue000 7A.
Quantitative\ue000 and\ue000 Qualitative\ue000 Disclosures\ue000 about\ue000 Market\ue000 Risk
26
Item\ue000 8.
Financial\ue000 Statements\ue000 and\ue000 Supplementary\ue000 Data
26
Item\ue000 9.
Changes\ue000 in\ue000 and\ue000 Disagreements\ue000 with\ue000 Accountants\ue000 on\ue000 Accounting\ue000 and\ue000 Financial\ue000 Disclosure
26
Item\ue000 9A.
Controls\ue000 and\ue000 Procedures
27
Item\ue000 9B.
Other\ue000 Information
27
PART\ue000III
Item\ue000 10.
Directors,\ue000 Executive\ue000 Officers\ue000 and\ue000 Corporate\ue000 Governance
27
Item\ue000 11.
Executive\ue000 Compensation
27
Item\ue000 12.
Security\ue000 Ownership\ue000 of\ue000 Certain\ue000 Beneficial\ue000 Owners\ue000 and\ue000 Management\ue000 and\ue000 Related\ue000 Stockholder\ue000 Matters
27
Item\ue000 13.
Certain\ue000 Relationships\ue000 and\ue000 Related\ue000 Transactions\ue000 and\ue000 Director\ue000 Independence
27
Item\ue000 14.
Principal\ue000 Accountant\ue000 Fees\ue000 and\ue000 Services
27
PART\ue000 IV
Item\ue000 15.
Exhibits,\ue000 Financial\ue000 Statement\ue000 Schedules
28
\ue000
\ue000
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PART\ue000 I
ITEM\ue000 1.\ue000 BUSINESS
General

Core\ue000 Laboratories\ue000 N.V.\ue000 is\ue000 a\ue000 Netherlands\ue000 limited\ue000 liability\ue000 company.\ue000 We\ue000 were\ue000 established\ue000 in\ue000 1936\ue000 and\ue000 are\ue000 one\ue000 of\ue000 the\ue000 world's\ue000 leading\ue000 providers\ue000 of proprietary\ue000 and\ue000 patented\ue000 reservoir\ue000 description,\ue000 production\ue000 enhancement\ue000 and\ue000 reservoir\ue000 management\ue000 services\ue000 to\ue000 the\ue000 oil\ue000 and\ue000 gas\ue000 industry.\ue000 These products\ue000 and\ue000 services\ue000 are\ue000 directed\ue000 toward\ue000 enabling\ue000 our\ue000 clients\ue000 to\ue000 improve\ue000 reservoir\ue000 performance\ue000 and\ue000 increase\ue000 oil\ue000 and\ue000 gas\ue000 recovery\ue000 from\ue000 their producing\ue000 fields.\ue000 We\ue000 have\ue000 over\ue000 70\ue000 offices\ue000 in\ue000 more\ue000 than\ue000 50\ue000 countries\ue000 and\ue000 have\ue000 approximately\ue000 5,000\ue000 employees.

References\ue000 to\ue000 "Core\ue000 Lab",\ue000 the\ue000 "Company",\ue000 "we",\ue000 "our",\ue000 and\ue000 similar\ue000 phrases\ue000 are\ue000 used\ue000 throughout\ue000 this\ue000 Annual\ue000 Report\ue000 on\ue000 Form\ue000 10-K\ue000 (this\ue000 "Form
10-K")\ue000 and\ue000 relate\ue000 collectively\ue000 to\ue000 Core\ue000 Laboratories\ue000 N.V.\ue000 and\ue000 its\ue000 consolidated\ue000 affiliates.
Business\ue000 Strategy

Our\ue000 business\ue000 strategy\ue000 is\ue000 to\ue000 provide\ue000 advanced\ue000 technologies\ue000 that\ue000 improve\ue000 reservoir\ue000 performance\ue000 by\ue000 (i)\ue000 continuing\ue000 the\ue000 development\ue000 of
proprietary\ue000 technologies\ue000 through\ue000 client-driven\ue000 research\ue000 and\ue000 development,\ue000 (ii)\ue000 expanding\ue000 the\ue000 services\ue000 and\ue000 products\ue000 offered\ue000 throughout\ue000 our
global\ue000 network\ue000 of\ue000 offices\ue000 and\ue000 (iii)\ue000 acquiring\ue000 complementary\ue000 technologies\ue000 that\ue000 add\ue000 key\ue000 technologies\ue000 or\ue000 market\ue000 presence\ue000 and\ue000 enhance\ue000 existing
products\ue000 and\ue000 services.

Development\ue000 of\ue000 New\ue000 Technologies,\ue000 Services\ue000 and\ue000 Products

We\ue000 conduct\ue000 research\ue000 and\ue000 development\ue000 to\ue000 meet\ue000 the\ue000 needs\ue000 of\ue000 our\ue000 clients\ue000 who\ue000 are\ue000 continually\ue000 seeking\ue000 new\ue000 services\ue000 and\ue000 technologies\ue000 to\ue000 lower their\ue000 costs\ue000 of\ue000 finding,\ue000 developing\ue000 and\ue000 producing\ue000 oil\ue000 and\ue000 gas.\ue000 While\ue000 the\ue000 aggregate\ue000 number\ue000 of\ue000 wells\ue000 being\ue000 drilled\ue000 per\ue000 year\ue000 has\ue000 fluctuated\ue000 relative to\ue000 market\ue000 conditions,\ue000 oil\ue000 and\ue000 gas\ue000 producers\ue000 have,\ue000 on\ue000 a\ue000 proportional\ue000 basis,\ue000 increased\ue000 expenditures\ue000 on\ue000 technology\ue000 services\ue000 to\ue000 improve\ue000 their understanding\ue000 of\ue000 the\ue000 reservoir\ue000 and\ue000 increase\ue000 production\ue000 of\ue000 oil\ue000 and\ue000 gas\ue000 from\ue000 their\ue000 producing\ue000 fields.\ue000 We\ue000 intend\ue000 to\ue000 continue\ue000 concentrating\ue000 our efforts\ue000 on\ue000 services\ue000 and\ue000 technologies\ue000 that\ue000 improve\ue000 reservoir\ue000 performance\ue000 and\ue000 increase\ue000 oil\ue000 and\ue000 gas\ue000 recovery.

International\ue000 Expansion\ue000 of\ue000 Services\ue000 and\ue000 Products

Another\ue000 component\ue000 of\ue000 our\ue000 business\ue000 strategy\ue000 is\ue000 to\ue000 broaden\ue000 the\ue000 spectrum\ue000 of\ue000 services\ue000 and\ue000 products\ue000 offered\ue000 to\ue000 our\ue000 clients\ue000 on\ue000 a\ue000 global\ue000 basis.\ue000 We intend\ue000 to\ue000 continue\ue000 using\ue000 our\ue000 worldwide\ue000 network\ue000 of\ue000 offices\ue000 to\ue000 offer\ue000 many\ue000 of\ue000 our\ue000 services\ue000 and\ue000 products\ue000 that\ue000 have\ue000 been\ue000 developed\ue000 internally\ue000 or obtained\ue000 through\ue000 acquisitions.\ue000 This\ue000 allows\ue000 us\ue000 to\ue000 enhance\ue000 our\ue000 revenues\ue000 through\ue000 efficient\ue000 utilization\ue000 of\ue000 our\ue000 worldwide\ue000 network.

A
cquisitions
We\ue000 continually\ue000 review\ue000 potential\ue000 acquisitions\ue000 to\ue000 add\ue000 key\ue000 services\ue000 and\ue000 technologies,\ue000 enhance\ue000 market\ue000 presence\ue000 or\ue000 complement\ue000 existing
businesses.
More\ue000 information\ue000 relating\ue000 to\ue000 our\ue000 acquisitions\ue000 during\ue000 2007\ue000 and\ue000 2008\ue000 is\ue000 included\ue000 in\ue000 Note\ue000 3\ue000 of\ue000 the\ue000 Notes\ue000 to\ue000 Consolidated\ue000 Financial\ue000 Statements\ue000 in
this\ue000 Form\ue000 10-K\ue000 ("Notes\ue000 to\ue000 Consolidated\ue000 Financial\ue000 Statements").
Operations
We\ue000 derive\ue000 our\ue000 revenues\ue000 from\ue000 services\ue000 and\ue000 product\ue000 sales\ue000 to\ue000 clients\ue000 primarily\ue000 in\ue000 the\ue000 oil\ue000 and\ue000 gas\ue000 industry.
Our\ue000 reservoir\ue000 optimization\ue000 services\ue000 and\ue000 technologies\ue000 are\ue000 interrelated\ue000 and\ue000 are\ue000 organized\ue000 into\ue000 three\ue000 complementary\ue000 segments.\ue000 Disclosure\ue000 relating
to\ue000 the\ue000 operations\ue000 and\ue000 financial\ue000 information\ue000 of\ue000 these\ue000 business\ue000 segments\ue000 is\ue000 included\ue000 in\ue000 Note\ue000 15\ue000 of\ue000 the\ue000 Notes\ue000 to\ue000 Consolidated\ue000 Financial
Statements.
\ue000
1
\ue000
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