Flint Energy Services Executes Asset Management Services Contract with Suncor Energy



    (TSX: FES)

    CALGARY, March 29 /CNW/ - Flint Energy Services Ltd. ("Flint") announced
today that its 50 percent owned subsidiary, Flint Transfield Services Limited
("FT Services"), has signed a five year, $1 billion contract with Suncor
Energy Inc. ("Suncor") for the provision of asset management services at
Suncor's Fort McMurray, Alberta oil sands operations and its Sarnia, Ontario
refinery operation.
    FT Services is owned 50% by Flint and 50% by Transfield Services of
Australia. The other companies participating with FT Services in providing
services under the contract are Calgary-based Colt Engineering Corporation,
and ThyssenKrupp Safway Inc.
    The contract includes maintenance shutdown and turnaround services for
Suncor's Fort McMurray oil sands and Firebag in-situ facilities and the Sarnia
refinery; contract maintenance services to the oil sands extraction, upgrading
and Firebag facilities, and the Sarnia refinery; and site-wide maintenance
services at the oil sands operations. Additional services under the contract
will include engineering and construction for select sustaining capital
projects.
    The negotiations between FT Services and Suncor previously announced on
February 5, 2007 successfully concluded a rolling five year, performance-based
agreement with an anticipated value in excess of $1 billion in revenues over
the initial term.
    FT Services will continue to ramp up over the next six months and will
assume responsibility for the delivery of maintenance services in Fort
McMurray in the third quarter of 2007 and Sarnia late in the fourth quarter of
2007 or early in the first quarter of 2008. All efforts continue to be focused
on a smooth transition, and an on-going commitment to safety and reliable
operations.
    Bill Lingard, President and Chief Executive Officer for Flint said, "The
success of FT Services and Suncor in completing negotiations on this
comprehensive contract is a tribute to both teamwork and diligence, and speaks
well for future success we can achieve together. We are pleased to
significantly enhance our asset management services capabilities in what we
see as a growing market in North America."

    Flint is a market leader providing an expanding range of integrated
products and services for the oil and gas industry including: production
services; field construction; oilfield transportation; process equipment
design and manufacturing; and tubular management services. Flint provides this
unique breadth of products and services through over 60 strategic locations in
the oil and gas producing areas of western North America, from Inuvik in the
Northwest Territories to Mission, Texas on the Mexican border. Flint is a
preferred provider of infrastructure construction management, module
fabrication, and maintenance services for upgrading and production facilities
in Alberta's fast growing oil sands sector. Flint Energy Services Ltd. is a
publicly traded company listed on the Toronto Stock Exchange under the symbol
"FES".

    FORWARD LOOKING STATEMENTS

    Certain statements in this news release are "forward-looking statements",
which reflect current expectations of the management of Flint regarding future
events or Flint's future performance. All statements other than statements of
historical fact contained in this news release may be forward-looking
statements. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause actual results or events to
differ materially from those anticipated in the forward-looking statements.
Flint believes that the expectations reflected in such forward-looking
statements are reasonable, but no assurance can be given that these
expectations will prove to be correct and such forward-looking statements
should not be unduly relied upon. The forward-looking statements are expressly
qualified in their entirety by this cautionary statement. The forward-looking
statements are made as of the date of this news release and Flint assumes no
obligation to update or revise them to reflect new events or circumstances,
except as expressly required by applicable securities law. Further information
regarding risks and uncertainties relating to Flint and its securities can be
found in the disclosure documents filed by Flint with the securities
regulatory authorities, available at www.sedar.com.





For further information:

For further information: W.J. (Bill) Lingard, President & Chief
Executive Officer; Paul M. Boechler, Chief Financial Officer; or Guy Cocquyt,
Director of Investor Relations, Telephone: (403) 218-7100, Fax: (403)
215-5481, Website: www.flintenergy.com

Organization Profile

FLINT ENERGY SERVICES LTD.

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