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This presentation contains information that is "forward-looking" in that it describes events and conditions ENSERVCO reasonably expects to
occur in the future. Expectations for the future performance of ENSERVCO are dependent upon a number of factors, and there can be no
assurance that ENSERVCO will achieve the results as contemplated herein. Certain statements contained in this release using the terms
"may," "expects to," and other terms denoting future possibilities, are forward-looking statements. The accuracy of these statements cannot be
guaranteed as they are subject to a variety of risks, which are beyond ENSERVCO's ability to predict, or control and which may cause actual
results to differ materially from the projections or estimates contained herein. Among these risks are those set forth in ENSERVCO’s Form 10-
K filed on March 28, 2013, and in its reports subsequently filed with the Securities and Exchange Commission, all of which are available at
www.enservco.com, and in addition to the other risks and caveats included in this presentation. It is important that each person reviewing this
presentation understand the significant risks attendant to the operations of ENSERVCO. ENSERVCO disclaims any obligation to update any
forward-looking statement made herein.
In addition, we would point out that our ability to respond to questions at this meeting is limited by SEC Regulation
FD. In short, Regulation FD prohibits us from making selective disclosure of material non-public information. Where
we believe that Regulation FD prevents us from responding, we will answer the question with “no comment” or a
similar phrase. When we believe it is appropriate to announce material non-public information, we will publish press
releases or file reports with the SEC.
*Note on non-GAAP Financial Measures
This presentation also includes a discussion of Adjusted EBITDA, which is a non-GAAP financial measures provided as a complement to the
results provided in accordance with generally accepted accounting principles ("GAAP"). The term "EBITDA" refers to a financial measure that
we define as earnings plus or minus net interest plus taxes, depreciation and amortization. Adjusted EBITDA excludes from EBITDA stock-
based compensation and, when appropriate, other items that management does not utilize in assessing ENSERVCO’s operating performance.
None of these non-GAAP financial measures are recognized terms under GAAP and do not purport to be an alternative to net income as an
indicator of operating performance or any other GAAP measure.
Symbol
52-week range
Recent price (5/6/13)
Shares outstanding
Market capitalization
Warrants
Options
Public float
Fiscal year end
OTCQB: ENSV
$0.30 - $1.36
$1.30
32.2 million
$41.9 million
5.5 million
3.1 million
11.6 million shares
December 31
  Leading provider of well stimulation and fluid management services to domestic onshore
oil and gas industry, and only national provider of hot oiling and frac heating services
  Seasoned management team
  Operations in six of nation’s most active oil and gas fields
  50% of revenue derived from recurring, maintenance-related work
  Master service agreements (MSAs) with many of America’s leading exploration and
production companies
  Mobile equipment fleet allows for rapid redeployment to address regional shifts in demand
  Solid banking relationship with PNC supporting growth
Mike Herman - Chairman and Chief Executive Officer
•  Owns 51% of ENSV common stock
•  Began career in family oil and gas business
•  More than 30 years of experience as investor and operator of E&P and oilfield services companies
•  Built ENSERVCO through acquisition of leading regional well-site service businesses
•  Chairman and largest shareholder of Pyramid Oil Company (AMEX: PDO), a California-based, 100-year-old E&P
•  Former majority owner in two companies that became leaders in their industries. Sold both for significant gains
Rick Kasch – President
•  Owns approximately 5% of ENSV common stock
•  Responsible for ENSERVCO operations since Company inception in 2006
•  Executed acquisitions of ENSERVCO’s predecessor businesses with Mike Herman
•  Extensive operating, financial management, capital formation and public company experience. Helped raise more than $1
billion for previous employers through private and public equity and debt offerings, including IPOs, secondary offerings,
IDBs, traditional term debt revolving lines of credit
•  Former CFO of NYSE-traded company; former divisional President and COO of two hospitality companies
Bob Devers – Chief Financial Officer
•  Joined Company in 2013 with more than 20 years of financial management experience
•  Broad industry background includes oil and gas and natural resource sectors
•  Spent 2007 - 2011 as CFO of mineral exploration Company traded on NYSE MKT
•  Formerly senior director of financial analysis and internal audit of The Broe Companies Inc., a multi-billion dollar
international holding company with investments in real estate, transportation, mining, and oil and gas exploration.
Austin Peitz – Vice President, Field Operations
•  More than 17 years of operational experience with ENSERVCO
•  Responsible for all field operations at Heat Waves and Dillco Fluid Services businesses
•  Directed opening of new service yards in Marcellus, Utica, Bakken and Niobrara Shale regions
•  Designed ENSERVCO’s proprietary fluid heating systems for use in frac heaters and hot oiling trucks
 Becomes a public company in July following merger with Aspen Exploration Corporation
 Commences operations in Marcellus Shale region
Acquisition of 35-year-old Dillco Fluid Services, the leading provider of water hauling, fluid
disposal, frac tank rental, and well-site construction services in the Hugoton Basin
2006
2007
2010
2011 Opens major operation centers in Bakken Shale and northern Niobrara Shale fields
 Record revenue of $31.5 million leads to first full year of profitability as public company
 Service territory expanded into Utica Shale and Mississippi Lime regions
 Strengthens financial position with new $16 million credit facility and $2 million equity raise
2012
Acquisition of Heat Waves Hot Oil Service, an 8-yer-old provider of hot oiling, frac
heating acidizing, pressure testing & water hauling services
2013
 Q1 brings all-time quarterly highs for revenue, operating income, net income and adjusted EBITDA
 Frac heating capacity increased by 50% since start of Q4 2012
 Strategic relationship entered with Warrior LLC in North Dakota’s Williston Basin
 Customers announce major 2013 CapEx plans in ENSERVCO’s service territories
2012
2013
* From continuing operations, Unaudited
  80% of 2012 consolidated revenue
  Primary services:
•  Frac heating
•  Hot oiling
•  Acidizing
•  Pressure testing
  Service area: Colorado, Pennsylvania, North
Dakota, Montana, Wyoming, Nebraska, West
Virginia, Ohio, Kansas, New Mexico, Oklahoma
and Texas
  20% of 2012 consolidated revenue
  Primary services:
•  Fluid hauling
•  Fluid disposal
•  Frac tank rental
•  Well-site construction
  Service area: Colorado, Kansas, Oklahoma
& Texas
Heat Waves Hot Oil Service Dillco Fluid Service
Hot Oiling
The circulation of heated oil or similar fluids down a well bore, where the fluid dissolves and dislodges paraffin and
other hydrocarbon deposits. Related services involve the heating of oil storage tanks, which eliminates water and
other soluble waste that can reduce the operator’s revenue at the refinery.
Frac Heating
The heating of water being used in well frac jobs to a predetermined temperature, which prevents freezing and
ensures that fracking solutions mix properly.
Acidizing
Pumping specially formulated acids and/or chemicals into a well to dissolve materials blocking the flow of the oil or
natural gas. Acidizing is most often used for increasing permeability throughout the formation, cleaning up
formation damage near the wellbore and removing the buildup of materials restricting the flow in the formation.
Pressure Testing
The pumping of fluids into new or existing wells or other components of the well system to detect leaks.
Fluid Management Services
Transporting water to fill frac tanks or reservoirs at well locations, transporting contaminated production water to
disposal wells, moving drilling and completion fluids to and from well locations, and transporting flow-back fluids
from the well site to disposal wells
Heating equipment 50
Frac heaters, Hot oilers
Water haulers 75
Acidizing trucks 3
Construction units 15
Frac tanks 15
Disposal wells 3
Misc. 70
Total: 231
Equipment	
   Cost	
  to	
  
Construct	
  
Annual	
  Revenue	
  
Poten6al	
  
Frac	
  Heaters	
  
Double	
  Burners	
  (8)	
  
Bobtail	
  (1	
  burner)	
  (18)	
  
$350,000	
  
$250,000	
  
$1,300,000	
  -­‐	
  $1,500,000	
  
$650,000	
  	
  -­‐	
  	
  	
  $750,000	
  
Hot	
  oiler	
  (24)	
   $350,000	
   $400,000	
  	
  -­‐	
  	
  	
  $500,000	
  
Equipment ROIEquipment Inventory
Double burner frac heater
Bobtail frac heater Hot oiler
Colorado	
  
1.	
  Denver	
  
Headquarters	
  
2.	
  Pla<eville	
  
D-­‐J	
  Basin	
  &	
  	
  
Niobrara	
  Shale	
  
Kansas	
  
3.	
  Garden	
  City	
  
Mississippi	
  Lime	
  
4.	
  Hugoton	
  
North	
  Dakota	
  
5.	
  Killdeer	
  
Bakken	
  Shale	
  
Pennsylvania	
  
6.	
  Carmichaels	
  
Marcellus	
  Shale	
  &	
  	
  
U?ca	
  Shale	
  
Wyoming	
  
7.	
  Cheyenne	
  
Niobrara	
  Shale	
  
ENSERVCO	
  Loca6ons	
  
Colorado	
  
Pennsylvania
North Dakota
Kansas	
  
Wyoming	
  
1	
  
2	
  
3	
  4	
  
5	
  
6	
  
Rapid geographic expansion has been in
response to customer requests for service
in new basins
7	
  
  Industry consists primarily of small “mom and pop” and regionally
focused service providers
  Significant supply/demand imbalance has resulted from E&P
industry’s fast growth
  Many service providers operating aging equipment with limited
capacity
  Most providers plagued by very high employee turnover
  ENSERVCO Competitive Advantages:
  Only national provider of hot oiling, well acidizing, frac heating
  Modern equipment fleet outperforms most competing providers
  MSAs and proven record with leading exploration and production companies
ENSERVCO is well positioned in a very active domestic energy environment:
  U.S. oil output growth in 2013 expected to be fastest on record*
  Domestic production expected to rise 25% between 2013 and 2014*
  Growth largely attributable to horizontal drilling & hydraulic fracking*
  IHS says U.S. to be number-one country for liquids production growth through 2020
*U.S. Energy Information Association
  Capitalize on supply/demand imbalance in recently entered basins
  Expand service territory into additional domestic oil & gas basins
  Leverage MSAs to capture new business as E&Ps narrow their
vendor lists
  Pursue acquisition opportunities
  Add new well-site services
$	
  in	
  thousands	
  	
   2010 2011 2012* Q1	
  2012* Q1	
  2013*
Revenue $17,820 $23,904 $31,498 $9,528 $18,567
	
  	
  %	
  growth 25% 34% 32% 3% 95%
Gross	
  profit $4,279 $6,076 $8,211 $2,949 $8,166
	
  	
  %	
  margin 24% 25% 26% 31% 44%
Opera6ng	
  income	
  (loss) ($1,756) ($1,628) $1,701 $721 $6,695
Income	
  aZer	
  tax	
  (loss) ($1,489) ($1,598) $401 $379 $4,007
* From continuing operations
$	
  in	
  thousands	
   March	
  31,	
  	
  
2013	
  
December	
  31,	
  	
  
2012	
  
Cash	
  &	
  Accts.	
  Rec.	
   $14,224	
   $8,325	
  
Current	
  assets	
   $15,919	
   $9,554	
  
Total	
  assets	
   $30,853	
   $25,857	
  
Working	
  capital	
   $7,412	
   $1,556	
  
LT	
  debt	
   $11,517	
   $11,043	
  
Total	
  liabiliNes	
   $20,024	
   $19,041	
  
Total	
  liabiliNes/equity	
   1.8:1	
   2.8:1	
  
LT	
  debt/equity	
   1.1:1	
   1.6:1	
  
  Leadership position in important segment of energy services sector
  Energy industry’s only nationwide provider of comprehensive fluid heating
solutions
  Proven, entrepreneurial management team focused on enhancing shareholder
value through execution of aggressive growth strategy
  Company positioned to benefit from:
  New wells coming on line in conventional and unconventional plays
  MSAs with most major U.S. exploration and production companies
  Reputation for superior service and equipment
  Solid base of ongoing maintenance work positions company to withstand energy
price volatility and downturn in drilling activity
Geoff High
Principal
Pfeiffer High Investor Relations
303-393-7044
geoff@pfeifferhigh.com
Contacts:
Derek Gradwell
SVP Natural Resources
MZ North America
212-301-7130
dgradwell@mzgroup.us
Rick Kasch
President
ENSERVCO Corporation
303-333-3678
rkasch@enservco.com
Bob Devers
Chief Financial Officer
ENSERVCO Corporation
720-974-3408
bdevers@enservco.com

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Enservco may2013 presentation

  • 1.
  • 2. This presentation contains information that is "forward-looking" in that it describes events and conditions ENSERVCO reasonably expects to occur in the future. Expectations for the future performance of ENSERVCO are dependent upon a number of factors, and there can be no assurance that ENSERVCO will achieve the results as contemplated herein. Certain statements contained in this release using the terms "may," "expects to," and other terms denoting future possibilities, are forward-looking statements. The accuracy of these statements cannot be guaranteed as they are subject to a variety of risks, which are beyond ENSERVCO's ability to predict, or control and which may cause actual results to differ materially from the projections or estimates contained herein. Among these risks are those set forth in ENSERVCO’s Form 10- K filed on March 28, 2013, and in its reports subsequently filed with the Securities and Exchange Commission, all of which are available at www.enservco.com, and in addition to the other risks and caveats included in this presentation. It is important that each person reviewing this presentation understand the significant risks attendant to the operations of ENSERVCO. ENSERVCO disclaims any obligation to update any forward-looking statement made herein. In addition, we would point out that our ability to respond to questions at this meeting is limited by SEC Regulation FD. In short, Regulation FD prohibits us from making selective disclosure of material non-public information. Where we believe that Regulation FD prevents us from responding, we will answer the question with “no comment” or a similar phrase. When we believe it is appropriate to announce material non-public information, we will publish press releases or file reports with the SEC. *Note on non-GAAP Financial Measures This presentation also includes a discussion of Adjusted EBITDA, which is a non-GAAP financial measures provided as a complement to the results provided in accordance with generally accepted accounting principles ("GAAP"). The term "EBITDA" refers to a financial measure that we define as earnings plus or minus net interest plus taxes, depreciation and amortization. Adjusted EBITDA excludes from EBITDA stock- based compensation and, when appropriate, other items that management does not utilize in assessing ENSERVCO’s operating performance. None of these non-GAAP financial measures are recognized terms under GAAP and do not purport to be an alternative to net income as an indicator of operating performance or any other GAAP measure.
  • 3. Symbol 52-week range Recent price (5/6/13) Shares outstanding Market capitalization Warrants Options Public float Fiscal year end OTCQB: ENSV $0.30 - $1.36 $1.30 32.2 million $41.9 million 5.5 million 3.1 million 11.6 million shares December 31
  • 4.   Leading provider of well stimulation and fluid management services to domestic onshore oil and gas industry, and only national provider of hot oiling and frac heating services   Seasoned management team   Operations in six of nation’s most active oil and gas fields   50% of revenue derived from recurring, maintenance-related work   Master service agreements (MSAs) with many of America’s leading exploration and production companies   Mobile equipment fleet allows for rapid redeployment to address regional shifts in demand   Solid banking relationship with PNC supporting growth
  • 5. Mike Herman - Chairman and Chief Executive Officer •  Owns 51% of ENSV common stock •  Began career in family oil and gas business •  More than 30 years of experience as investor and operator of E&P and oilfield services companies •  Built ENSERVCO through acquisition of leading regional well-site service businesses •  Chairman and largest shareholder of Pyramid Oil Company (AMEX: PDO), a California-based, 100-year-old E&P •  Former majority owner in two companies that became leaders in their industries. Sold both for significant gains Rick Kasch – President •  Owns approximately 5% of ENSV common stock •  Responsible for ENSERVCO operations since Company inception in 2006 •  Executed acquisitions of ENSERVCO’s predecessor businesses with Mike Herman •  Extensive operating, financial management, capital formation and public company experience. Helped raise more than $1 billion for previous employers through private and public equity and debt offerings, including IPOs, secondary offerings, IDBs, traditional term debt revolving lines of credit •  Former CFO of NYSE-traded company; former divisional President and COO of two hospitality companies
  • 6. Bob Devers – Chief Financial Officer •  Joined Company in 2013 with more than 20 years of financial management experience •  Broad industry background includes oil and gas and natural resource sectors •  Spent 2007 - 2011 as CFO of mineral exploration Company traded on NYSE MKT •  Formerly senior director of financial analysis and internal audit of The Broe Companies Inc., a multi-billion dollar international holding company with investments in real estate, transportation, mining, and oil and gas exploration. Austin Peitz – Vice President, Field Operations •  More than 17 years of operational experience with ENSERVCO •  Responsible for all field operations at Heat Waves and Dillco Fluid Services businesses •  Directed opening of new service yards in Marcellus, Utica, Bakken and Niobrara Shale regions •  Designed ENSERVCO’s proprietary fluid heating systems for use in frac heaters and hot oiling trucks
  • 7.  Becomes a public company in July following merger with Aspen Exploration Corporation  Commences operations in Marcellus Shale region Acquisition of 35-year-old Dillco Fluid Services, the leading provider of water hauling, fluid disposal, frac tank rental, and well-site construction services in the Hugoton Basin 2006 2007 2010 2011 Opens major operation centers in Bakken Shale and northern Niobrara Shale fields  Record revenue of $31.5 million leads to first full year of profitability as public company  Service territory expanded into Utica Shale and Mississippi Lime regions  Strengthens financial position with new $16 million credit facility and $2 million equity raise 2012 Acquisition of Heat Waves Hot Oil Service, an 8-yer-old provider of hot oiling, frac heating acidizing, pressure testing & water hauling services 2013  Q1 brings all-time quarterly highs for revenue, operating income, net income and adjusted EBITDA  Frac heating capacity increased by 50% since start of Q4 2012  Strategic relationship entered with Warrior LLC in North Dakota’s Williston Basin  Customers announce major 2013 CapEx plans in ENSERVCO’s service territories
  • 8. 2012 2013 * From continuing operations, Unaudited
  • 9.   80% of 2012 consolidated revenue   Primary services: •  Frac heating •  Hot oiling •  Acidizing •  Pressure testing   Service area: Colorado, Pennsylvania, North Dakota, Montana, Wyoming, Nebraska, West Virginia, Ohio, Kansas, New Mexico, Oklahoma and Texas   20% of 2012 consolidated revenue   Primary services: •  Fluid hauling •  Fluid disposal •  Frac tank rental •  Well-site construction   Service area: Colorado, Kansas, Oklahoma & Texas Heat Waves Hot Oil Service Dillco Fluid Service
  • 10. Hot Oiling The circulation of heated oil or similar fluids down a well bore, where the fluid dissolves and dislodges paraffin and other hydrocarbon deposits. Related services involve the heating of oil storage tanks, which eliminates water and other soluble waste that can reduce the operator’s revenue at the refinery. Frac Heating The heating of water being used in well frac jobs to a predetermined temperature, which prevents freezing and ensures that fracking solutions mix properly. Acidizing Pumping specially formulated acids and/or chemicals into a well to dissolve materials blocking the flow of the oil or natural gas. Acidizing is most often used for increasing permeability throughout the formation, cleaning up formation damage near the wellbore and removing the buildup of materials restricting the flow in the formation. Pressure Testing The pumping of fluids into new or existing wells or other components of the well system to detect leaks. Fluid Management Services Transporting water to fill frac tanks or reservoirs at well locations, transporting contaminated production water to disposal wells, moving drilling and completion fluids to and from well locations, and transporting flow-back fluids from the well site to disposal wells
  • 11. Heating equipment 50 Frac heaters, Hot oilers Water haulers 75 Acidizing trucks 3 Construction units 15 Frac tanks 15 Disposal wells 3 Misc. 70 Total: 231 Equipment   Cost  to   Construct   Annual  Revenue   Poten6al   Frac  Heaters   Double  Burners  (8)   Bobtail  (1  burner)  (18)   $350,000   $250,000   $1,300,000  -­‐  $1,500,000   $650,000    -­‐      $750,000   Hot  oiler  (24)   $350,000   $400,000    -­‐      $500,000   Equipment ROIEquipment Inventory Double burner frac heater Bobtail frac heater Hot oiler
  • 12. Colorado   1.  Denver   Headquarters   2.  Pla<eville   D-­‐J  Basin  &     Niobrara  Shale   Kansas   3.  Garden  City   Mississippi  Lime   4.  Hugoton   North  Dakota   5.  Killdeer   Bakken  Shale   Pennsylvania   6.  Carmichaels   Marcellus  Shale  &     U?ca  Shale   Wyoming   7.  Cheyenne   Niobrara  Shale   ENSERVCO  Loca6ons   Colorado   Pennsylvania North Dakota Kansas   Wyoming   1   2   3  4   5   6   Rapid geographic expansion has been in response to customer requests for service in new basins 7  
  • 13.   Industry consists primarily of small “mom and pop” and regionally focused service providers   Significant supply/demand imbalance has resulted from E&P industry’s fast growth   Many service providers operating aging equipment with limited capacity   Most providers plagued by very high employee turnover   ENSERVCO Competitive Advantages:   Only national provider of hot oiling, well acidizing, frac heating   Modern equipment fleet outperforms most competing providers   MSAs and proven record with leading exploration and production companies
  • 14.
  • 15. ENSERVCO is well positioned in a very active domestic energy environment:   U.S. oil output growth in 2013 expected to be fastest on record*   Domestic production expected to rise 25% between 2013 and 2014*   Growth largely attributable to horizontal drilling & hydraulic fracking*   IHS says U.S. to be number-one country for liquids production growth through 2020 *U.S. Energy Information Association
  • 16.   Capitalize on supply/demand imbalance in recently entered basins   Expand service territory into additional domestic oil & gas basins   Leverage MSAs to capture new business as E&Ps narrow their vendor lists   Pursue acquisition opportunities   Add new well-site services
  • 17. $  in  thousands     2010 2011 2012* Q1  2012* Q1  2013* Revenue $17,820 $23,904 $31,498 $9,528 $18,567    %  growth 25% 34% 32% 3% 95% Gross  profit $4,279 $6,076 $8,211 $2,949 $8,166    %  margin 24% 25% 26% 31% 44% Opera6ng  income  (loss) ($1,756) ($1,628) $1,701 $721 $6,695 Income  aZer  tax  (loss) ($1,489) ($1,598) $401 $379 $4,007 * From continuing operations
  • 18. $  in  thousands   March  31,     2013   December  31,     2012   Cash  &  Accts.  Rec.   $14,224   $8,325   Current  assets   $15,919   $9,554   Total  assets   $30,853   $25,857   Working  capital   $7,412   $1,556   LT  debt   $11,517   $11,043   Total  liabiliNes   $20,024   $19,041   Total  liabiliNes/equity   1.8:1   2.8:1   LT  debt/equity   1.1:1   1.6:1  
  • 19.   Leadership position in important segment of energy services sector   Energy industry’s only nationwide provider of comprehensive fluid heating solutions   Proven, entrepreneurial management team focused on enhancing shareholder value through execution of aggressive growth strategy   Company positioned to benefit from:   New wells coming on line in conventional and unconventional plays   MSAs with most major U.S. exploration and production companies   Reputation for superior service and equipment   Solid base of ongoing maintenance work positions company to withstand energy price volatility and downturn in drilling activity
  • 20. Geoff High Principal Pfeiffer High Investor Relations 303-393-7044 geoff@pfeifferhigh.com Contacts: Derek Gradwell SVP Natural Resources MZ North America 212-301-7130 dgradwell@mzgroup.us Rick Kasch President ENSERVCO Corporation 303-333-3678 rkasch@enservco.com Bob Devers Chief Financial Officer ENSERVCO Corporation 720-974-3408 bdevers@enservco.com