TSX:FESwww.flintenergy.com

Life-Cycle Energy Services - Price-Cycle Profitability

D.A. Davidson & Co.9th Annual Engineering & Construction ConferenceSan Francisco, Sept 28 & 29, 2010

Incomparable TOUGH AND

TRUSTED ™

Contact Information

W. J. (Bill) LingardPresident and Chief Executive Officer403-218-7188blingard@flintenergy.com

Paul M. BoechlerExecutive Vice President andChief Financial Officer403-218-7181pboechler@flintenergy.com

Guy CocquytDirector, Investor Relations403-218-7195gcocquyt@flintenergy.com

Shell’s Albian Sands project

Flint Energy Services Ltd.Suite 700, 300 - 5th Ave S.W. Calgary, Alberta Canada T2P 3C4

info@flintenergy.comwww.flintenergy.com

Forward-Looking Information Statement

This presentation contains forward-looking statements concerning the Company’s projected operating results and anticipated capital expenditure trends and drilling activity in the oil and gas industry. Actual events or results may differ materially from those reflected in the Company’s forward-looking statements due to a number of risks, uncertainties and other factors affecting the Company’s business and the oil and gas industry generally.

These risk factors include, but are not limited to risks and uncertainties described under the heading “Risk Factors” and elsewhere in the Company’s Annual Information Form for the year ended December 31, 2009, and other documents filed with Canadian provincial securities authorities, which are available to the public at www.sedar.com.

Unless otherwise indicated, all financial information in this presentation is in Canadian dollars and in accordance with Canadian generally accepted accounting principles.

Trading and Financial Information

Million in Annual Net Earnings (2009)$46.5EBITDA per Share (2009)$3.24

Million in Annual EBITDA(2009)$149.2

Million in Annual Revenue (2009)$1,876.5

Million in Equity (as of June 30, 2010)$543.6Million Basic Shares Outstanding45.6

52 Week High and Low Share Price(high 4/22/10, low 12/30/09)$14.73 - $9.30

Last fiscal year ended Dec. 31, 2009

TSX

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Flint’s Strategy - “Build it then Maintain it”

Our focus is on energy production in North America

We are aligned with the best oil and gas producers in their respective markets

Our goal is:to become the most respected energy service company in North America

StatoilHydro’s Leismer Project

Flint’s Full Cycle Business Segments

OILFIELD SERVICES

PRODUCTIONSERVICES

FACILITY INFRASTRUCTURE

MAINTENANCESERVICES

Upstream Drilling Downstream Refining

Early cycle Late cycle

Midstream Production

Flint’s Construction and Maintenance Activities

Top left - Suncor Firebag 1&2 SAGD facilitiesTop Right – Twin 24” pipelines NE AlbertaBottom Left – Vacuum TruckGathering pipeline installation, USA

2010 Six Month Revenue by Segment

Total Revenues $980.5 MillionEBITDA $75.7 Million

Amounts in C$ millions

Production Services$410.1 million in Revenue

$34.3 million in EBITDA

Facility Infrastructure$250.7 million in Revenue

$28.9 million in EBITDA

Oilfield Services$102.3 million in Revenue

$2.9 million in EBITDA

Maintenance Services$217.5 million in Revenue

$9.6 million in EBITDA

USA

Canada

$263.3 million Revenues$23.4 million EBITDA

$146.8 million Revenues$12.1 million EBITDA

15% of YTD revenuesfrom US operations

2010 Q2 Financial Highlights

3 monthsJun. 30, 2009

3 months Jun. 30, 2010(in C$ Millions, except share amounts)

$0.08$0.18Diluted Net Earnings$0.08$0.18Basic Earnings

Earnings per Share3.88.2Net Earnings

14.827.7Funds Provided by Operations (1)

23.531.7EBITDA$424.2$459.2Revenue

(1) Before changes in non-cash working capital

2010 First Half Financial Highlights

6 monthsJun. 30, 2009

6 months Jun. 30, 2010(in C$ Millions, except share amounts)

$0.48$0.56Diluted Net Earnings$0.49$0.57Basic Earnings

Earnings per Share22.325.9Net Earnings38.659.1Funds Provided by Operations (1)

70.375.7EBITDA$954.4$980.5Revenue

(1) Before changes in non-cash working capital

2010 Q2 Balance Sheet Summary

Dec. 31, 2009Jun. 30, 2010(in C$ Millions)

$974.7$1,004.8Total Assets

515.3543.6Shareholder’s Equity

423.5409.1Other Assets

222.4123.7Long Term Debt(3)

192.8145.6Non-Cash Working Capital

16.7194.4

120.3295.0

Current Portion of Long Term DebtTotal Current Liabilities(2)

$551.2$595.7Total Current Assets(1)

(1) Cash holdings were $155.1 million at June 30, 2010, compared to $164 million as at Dec. 31, 2009. (2) Includes $120.3 million current portion of LTD. As of March 31, 2010 Flint’s operating lines were undrawn. (3) Excluding current portion of long term debt.

Revenue Growth by Business Segment

$-

$250

$500

$750

$1,000

$1,250

$1,500

$1,750

$2,000

$2,250

$2,500

2004 2005 2006 2007 2008 2009 2010 (est)

Production Infrastructure Oilfield MaintenanceAmounts in C$ Millions

Unconventional Revenue Growth

$-

$250

$500

$750

$1,000

$1,250

$1,500

2004 2005 2006 2007 2008 2009 2010 (est)

Production Infrastructure Oilfield Maintenance

Amounts in C$ Millions

Unconventional Opportunities

Rig MovingBakkenMarcellusNE BC

Pressure & Vacuum, Fluid Hauling

BakkenRockiesMarcellus

Maintenance ContractsOil Sands Eastern RefineriesEast Coast Offshore

.

Woodford, Fayetteville & HaynesvilleShale Gas

Montney & Horn RiverShale Gas

Bakken Shale Oil Marcellus Shale Gas

Heavy Oil & BitumenEast CoastOffshore

Arctic Gas

Barnett, Eagle Ford Shale Gas

60 + operating centres

10,000 + employees

Forecast Conditions at Mid-Year

U.S. & Canadian drilling has increased 39% and 62% respectively in the first 9 months of 2010 on stronger oil prices and increased shale gas activity, we expect activity to remain strong in the second half of 2010

Mid-stream capital spending has picked up in both Canada and the US

Oil sands capital spending is projected to increase to $15 billion in 2010 and 17 billion in 2012 on a number of new project approvals and stable oil pricing

WTI crude oil is forecast in the $75 - $85/bbl range in 2010 and 2011

Natural gas is expected to trade at or below $4/mcf for the balance of 2010 and remain below $5/mcf through in 2011.

Shell’s Albian Sands Project

North American Well Drilling Update

2009 Actual220 average rigs, 8,500 wells

2010 Projected350 average rigs & 12,500 wells.

2011 Forecast360 average rigs & 14,125 wells.

Sources: Historical rig counts - Baker HughesCanadian & US forecast – Spears & Associates, Drilling & Production Outlook, Sept 2010

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100

200

300

400

500

600

700

800

2004 2005 2006 2007 2008 2009 2010p 2011f-

400

800

1,200

1,600

2,000

2,400

Canadian Active Rigs US Active Rigs

2009 Actual1,087 average rigs, 39,000 wells

2010 Projected 1,535 active rigs, 51,452 wells

2011 Forecast1,730 rigs & 60,452 wells

Oil Sands Construction Capital Expenditures

0

2

4

6

8

10

12

14

16

18

20

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

E20

10E

2011

F20

12F

C$

Bill

ions

In-situ Mining Upgraders

Construction spending is forecast to rise to $17 Billion by 2012.$80 Billion in proposed projects over the next five years

Flint’s Oil Sands Construction Activities

Current contracts include:• Suncor’s Firebag 3 site-wide field

construction Previous contracts:• Suncor’s Firebag 1 & 2 & Co-Gen• Suncor’s Millennium Coker &

Vacuum Units• Nexen - Opti’s Long Lake• Husky’s Tucker Lake• ConocoPhillips’ Surmont 1• EnCana’s Foster Creek• Petro-Canada’s Mackay River• Shell’s Albian Sands• StatOil’s Leismer Project

Nexen-Opti's Long Lake - Flint built the project’s Gasifier Unit

Flint’s Oil Sands Construction Opportunities

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2

4

6

8

10

12

14

16

18

20

2002 2003 2004 2005 2006 2007 2008 2009 2010 f

Spe

ndin

g ($

bill

ions

)

0

100

200

300

400

500

600

Rev

enue

s ($

mill

ions

)

Oil Sands Capital Spending Facility Infrastructure RevenuesFlint’s Facility Infrastructure revenues have closely tracked oil sands capital spending

Potential additions to backlog:• additional Firebag scope• ConocoPhillips/Total Surmont• Husky – Sunrise• MEG Energy – Christina Lake• additional work at Albian Sands• StatOil Phase 2

Flint’s Maintenance Strategy

‘Build it, then Maintain it’

• Bitumen production & maintenance spending are expected to nearly double by 2016

• FT Services JV has contracts with four major oil sands producers generating over $700 million in annual revenues in 2009 (50% to Flint)

• We expect organic growth within contracts as production increases over the next 5 years

• We are actively pursuing new customers in both the processing and refining industries

Oil Sands Production Forecast

0.0

0.5

1.0

1.5

2.0

2.5

2007 2008 2009e 2010e 2011e 2012e 2013e 2014e 2015e 2016e

Daily Production Annual Maintenance

Millions of barrels per day, billions of dollars annually

Source: CAPP Oil Sands production forecast.Maintenance costs from Peters & Company - Oil Sands Maintenance Forecast March 2008

Flint’s Wear Resistant Technologies - Flint InnerArmor

WhyHigh wear / corrosion issues particularly for bitumen producersCompliments existing fabrication & maintenance services

What Diamond Like Carbon coatingHighly resistant to wear and corrosion

Status17 test parts in service with 3 different clientsSetting up manufacturing operations in Calgary

Wear Resistant Technologies – Thermoplastic Elastomer Lining

WhatThermoplastic elastomer lined pipeDevelopment Partnership with DuPont Canada

WhyHydro-slurry pipelines supplying bitumen to the plants and tailings lines have short life cycles and high maintenance costs High level of focus by producersLimited viable solutions available

Status30” elastomer lined test spool for an Oil Sands Producer is ready to install in October 2010

Summary

2010 InitiativesFlint will:• Capture new opportunities/build

backlog • Redeploy capital equipment from

less active areas to more active North American basins

• Reduce costs of delivery to improve operating margins

• Commercialize new technologies• Pursue strategic growth initiatives

77 acre module fabrication yard in Sherwood Park, Alberta

TSX:FESwww.flintenergy.com

Life-Cycle Energy Services - Price-Cycle Profitability

D.A. Davidson & Co.9th Annual Engineering & Construction ConferenceSan Francisco, Sept 28 & 29, 2010

Incomparable TOUGH AND

TRUSTED ™