Flint Energy Services Ltd. Announces Oil Sands Module Fabrication Contract Award


CALGARY, Nov. 21, 2011 /CNW/ - Flint Energy Services Ltd. ("Flint", the "Company") announced today that it has been awarded a module fabrication contract valued in excess of $20 million for a major oil sands producer.

The work will be completed by Flint Fabrication and Modularization Ltd., a division of Flint based in Sherwood Park, Alberta. The scope of work will be to fabricate electrical, pipe rack and equipment modules for installation at a SAGD expansion project near Fort McMurray, Alberta. Work will commence in January of 2012 and continue through June of 2012.  The project will employ up to 250 trades personnel over the six month term of the contract.

W. J. (Bill) Lingard, President and Chief Executive Officer of the Company said, "This contract represents one in a number of new contract awards Flint has recently won, adding to a growing backlog of work in our Facility Infrastructure segment for 2012 and 2013. We are bidding on a number of other projects and expect to see additional awards in the near future."  The backlog of work as of September 30, 2011 in the Facility Infrastructure segment was reported as $740 million in the Company's third quarter earnings release.

Mr. Lingard added, "The volume of oil sands construction work approved and sanctioned for 2012 through 2014 will likely surpass the previous peak of construction that we saw in 2006 through 2009.  The key difference we are seeing in this cycle is industry has a more disciplined approach to development, better planning, and improved cost controls.  We expect to see peak demand for labour in 2014 and Flint, along with other construction companies will be actively recruiting construction workers from across Canada. Where necessary, industry will also have to be looking to global sources for highly skilled and qualified labour when we have exhausted all available Canadian sources for qualified labour. The key message for our Canadian youth is to consider careers in recognized construction trades.  In the next few years, we expect there will be a lot of work and opportunities within construction trades in Alberta."

Flint Energy Services Ltd. is a market leader providing an expanding range of integrated products and services for the oil and gas industry including: production services; infrastructure construction; oilfield transportation; and maintenance services.  With more than 9,500 employees, Flint provides this unique breadth of products and services through over 82 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, maintenance services for upgrading, and production facilities in Alberta's oil sands sector.

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 more details on employment with Flint, please visit our careers website: www.flintenergy.jobs.

SOURCE Flint Energy Services Ltd.

For further information:

Guy Cocquyt, Director of Investor Relations
Telephone: (403) 218-7195, Email: gcocquyt@flint-energy.com

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Flint Energy Services Ltd.

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