Investor  Presenta,on    March  2015  

This   presenta,on   contains   informa,on   that   is   "forward-­‐looking"   in   that   it   describes   events   and   condi,ons   ENSERVCO  reasonably   expects   to   occur   in   the   future.   Expecta,ons   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  deno,ng   future  possibili,es,  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  projec,ons  or  es,mates  contained  herein.  Among  these  risks  are  those  set  forth  in  ENSERVCO’s  Form  10-­‐K  filed  on  March  20,  2014,     and   in   its   reports   subsequently   filed   with   the   Securi,es   and   Exchange   Commission,   all   of   which   are   available   at  www.enservco.com,   and   in   addi,on   to   the   other   risks   and   caveats   included   in   this   presenta,on.     It   is   important   that   each  person   reviewing   this   presenta,on   understand   the   significant   risks   aUendant   to   the   opera,ons   of   ENSERVCO.     ENSERVCO  disclaims  any  obliga,on  to  update  any  forward-­‐looking  statement  made  herein.  

In  addi,on,  we  would  point  out   that  our  ability   to  respond  to  ques,ons  at   this  mee,ng   is   limited  by  SEC  Regula,on  FD.     In  short,  Regula,on  FD  prohibits  us  from  making  selec,ve  disclosure  of  material  non-­‐public  informa,on.    Where  we  believe  that  Regula,on  FD  prevents  us  from  responding,  we  will  answer  the  ques,on  with  “no  comment”  or  a  similar  phrase.    When  we  believe   it   is  appropriate   to  announce  material  non-­‐public   informa,on,  we  will  publish  press   releases  or  file   reports  with   the  SEC.  

*Note  on  non-­‐GAAP  Financial  Measures    This   presenta,on   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  accoun,ng  principles  ("GAAP").  The  term  "EBITDA"  refers  to  a  financial  measure  that  we  define  as  earnings  plus  or  minus  net  interest  plus  taxes,  deprecia,on  and  amor,za,on.  Adjusted  EBITDA  excludes  from  EBITDA  stock-­‐based  compensa,on  and,  when  appropriate,  other  items  that  management  does  not  u,lize  in  assessing  ENSERVCO’s  opera,ng  performance.  None  of  these  non-­‐GAAP  financial  measures  are  recognized  terms  under  GAAP  and  do  not  purport  to  be  an  alterna,ve  to  net  income  as  an  indicator  of  opera,ng  performance  or  any  other  GAAP  measure.      

 

Cau,onary  Statement  on  Forward-­‐looking  Informa,on  

Symbol  (NYSE:  MKT)  52-­‐week  range  Recent  price*  Avg.  volume  (3  mo.)  

Shares  -­‐  outstanding  Shares  -­‐  fully  diluted  Market  cap*    Fiscal  year  end    

   ENSV    $1.30  -­‐  $4.02  

 $1.97    94,218    37.6  M    39.0  M  $71.9  M      

 December  31  

Key  Data  

ENSV  1-­‐year  price  performance  

Financial  Results  (TTM  at  12/31/14)  Revenue  $56.6  M  Adjusted  EBITDA  $10.9  M    Russell  3000  Index  member  

Analyst  Coverage  •  William  Blair    •  Maxim  Group  •  Northland  Capital  Markets    •  Sido,  •  Barrington  •  Zacks  •  Euro  Pacific  Capital  •  Casimir  Capital  

     

*Recent price and market cap data as of March 20, 2015, and subject to change.

ENSV  Shareholder  Overview  

ENSERVCO’s  ins-tu-onal  shareholder  count  grew  from  1  at  January  1,  2014,  to  40  at  December  31,  2014    

Par,al  list  of  ENSERVCO’s  ins,tu,onal  shareholders  as  of  March  20,  2015,  based  on  SEC  repor,ng:  

Ins,tu,on  Shares  Held  Cross  River  Capital  Management  5,183,117  Granahan  Investment  Management  2,240,681  Wellington  Management  1,051,762  Hunter  Associates  1,000,000  BlackRock  Fund  Advisors  532,990  North  Star  Investment  Management  493,856  Morgan  Stanley  455,822  Vanguard  388,790  Blue  Clay  Capital  Management  384,855  William  Blair  Investment  Management  332,067  Edmunds  White  Partners  325,755  USAA  Investment  Management  301,300  Advisory  Research  216,600  PerriU  Capital  Management  139,400  GSA  Capital  Partners  137,413  Clioon  Park  Capital  Management  95,600  Deutsche  Bank  Securi,es  80,300      

Company  Overview    

!  Leading  provider  of  well  s,mula,on  and  fluid  management  services  to  domes,c  onshore  conven,onal  and  unconven,onal  oil  and  gas  customers    

!  Primary  Services:    Frac  Water  Hea,ng    •    Hot  Oiling    •    Acidizing    •    Fluid  Mgmt.  

!  Only  na,onal  provider  of  frac  water  hea,ng,  hot  oiling  and  well  acidizing    

!  Opera,ons  in  seven  of  na,on’s  most  ac,ve  oil  and  gas  fields  

!  45%  of  revenue  derived  from  recurring,  maintenance-­‐related  work  

! Master  service  agreements  (MSAs)  with  many  of  America’s  leading  explora,on  and  produc,on  companies  

! Mobile  equipment  fleet  allows  for  rapid  redeployment  to  address  regional  shios  in  demand  

!  Strong  rela,onship  with  PNC  Bank  supports  growth  

 

 

Investment  Considera,ons  

!  Only  na,onal  provider  of  hot  oiling,  acidizing  and  frac  water  hea,ng  services  

!  Strong,  underleveraged  balance  sheet  posi,ons  Company  to  weather  oil  price  vola,lity  

!  Capacity  and  geographic  expansion  ini,a,ves  underway    

!  Focused  on  reducing  seasonality  with  more  balanced,  high-­‐margin  revenue  model  emphasizing  recurring,  year-­‐round  maintenance  work  

 

 

Rick  Kasch  –  President  and  CEO;  Co-­‐Founder  •  Responsible  for  ENSERVCO  opera,ons  since  Company  incep,on  in  2006  •  Executed  acquisi,ons  of  ENSERVCO’s  predecessor  businesses  •  Extensive  opera,ng,  financial  management,  capital  forma,on  and  public  company  experience  with  

companies  ranging  from  startups  to  NYSE  listed  

Aus,n  Peitz  –  Vice  President,  Field  Opera,ons  •  More  than  18  years  of  opera,onal  experience  with  ENSERVCO  •  Responsible  for  all  Heat  Waves  and  Dillco  field  opera,ons  •  Designed  proprietary  hea,ng  systems  used  in  ENSERVCO’s  frac  water  heaters  and  hot  oiling  trucks  •  Managed  opening  of  all  Company  loca,ons    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  explora,on  Company  traded  on  NYSE  MKT  •  Formerly  senior  director  of  financial  analysis  and  internal  audit  of  The  Broe  Companies  Inc.,  a  mul,-­‐

billion  dollar  interna,onal  holding  company  with  investments  in  real  estate,  transporta,on,  mining,  and  oil  and  gas  explora,on.    

 

 

Experienced  Leadership  Team    

Notable  Events  in  Company  History    

! Becomes  a  public  company  ! Commences  opera,ons  in  Marcellus  Shale  region    

Acquisi,on  of  35-­‐year-­‐old  Dillco  Fluid  Services,  the  leading  provider  of  water  hauling,  fluid  disposal,  frac  tank  rental,  and  well-­‐site  construc,on  services  in  the  Hugoton  Basin  

2006  

2007  

2010  

2011   Opens  major  opera,on  centers  in  Bakken  Shale  and  northern  Niobrara  Shale  fields  

Service  territory  expanded  into  U,ca  Shale  and  Mississippi  Lime  regions    2012  

Acquisi,on  of  Heat  Waves  Hot  Oil  Service,  a  10-­‐year-­‐old  provider  of  hot  oiling,  frac  water  hea,ng,  acidizing,  pressure  tes,ng  &  water  hauling  

2013  ! Full-­‐year  revenue  up  48%  YOY  to  record  $46.5  million  ! Full-­‐year  adjusted  EBITDA  up  121%  to  record  $10.9  million    ! Service  territory  expanded  into  Wyoming’s  Jonah  Field,  Powder  River  &  Green  River  Basins  

2014  

! Company  achieves  record  revenue  ($56.6M)  and  adjusted  EBITDA  ($11.5M)  ! $16  million  Capex  program  facilita,ng  major  expansion  of  service  fleet  ! $3.7  million  asset  acquisi,on  expands  fleet  &  footprint  into  northern  Bakken  Shale  ! Commercializes  LNG,  CNG  and  well-­‐gas  fueling  op,ons  for  frac  water  hea,ng  units    ! PNC  Bank  approves  $40  million  credit  facility  ! Up-­‐listed  to  NYSE  MKT;  named  Rocky  Mountain  Region’s  Service  Company  of  the  Year  for  2013  

Opera,ng  Subsidiaries  

!  88%  of  2013  consolidated  revenue  

!  Primary  services:    •   Frac  water  hea,ng  •   Hot  oiling  •   Acidizing  •   Pressure  tes,ng  

!  Service  area:  Colorado,  Pennsylvania,  North  Dakota,  Montana,  Wyoming,  Nebraska,  West  Virginia,  Ohio,  Kansas,  New  Mexico,  Oklahoma,  Texas  &  Nevada  

!  12%  of  2013  consolidated  revenue  !  Primary  services:    

•   Fluid  hauling  •   Fluid  disposal  •   Frac  tank  rental  •   Well-­‐site  construc,on  

!  Service  area:    Colorado,  Kansas,  Oklahoma  &  Texas    

Heat  Waves  Hot  Oil  Service   Dillco  Fluid  Service    

Service  Overview  –  Frac  Water  Hea,ng    

Frac  water  hea,ng  is  the  process  of  hea,ng  the  water  used  to  hydraulically  fracture  oil  and  natural  gas  wells.    This  process  ensures  fluid  temperatures  meet  the  requirements  of  the  customer’s  frac  design.        

A  majority  of  ENSERVCO’s  burner  boxes  are  bi-­‐fuel,  meaning  they  can  be  fueled  with  propane,  liquefied  natural  gas,  compressed  natural  gas  or  dry  well-­‐gas  with  the  flip  of  a  switch.  Bi-­‐fuel  capability  is  a      compe,,ve  advantage,  offering  customers  a  “green”  alterna,ve  and  lower  opera,ng  costs.    Trucks  come  configured  as  single  burners  (bobtail),  double-­‐burners  and  “mega”  heaters  (pictured).      

Service  Overview  –  Hot  Oiling  Hot  oiling  involves  hea,ng  and  circula,ng  oil  or  similar  fluids  down  a  well  bore,  where  the  fluid  dissolves  and  dislodges  paraffin  and  other  hydrocarbon  deposits.      

Hot  oiling  is  also  used  to  heat  the  contents  of  oil  storage  tanks,  a  process  that  melts  ice  and/or  eliminates  water  and  other  soluble  waste  that  can  reduce  the  operator’s  revenue  at  the  refinery.    

Hot  oiling  is  a  recurring,  maintenance-­‐related  service,  and  is  performed  throughout  the  life  of  a  well.  

ENSERVCO’s  hot  oilers  are  capable  of  genera,ng  up  to  12  million  BTUs,  and  are  also  used  in  pressure  tes,ng  applica,ons.  

Service  Overview  –  Acidizing  

Acidizing  involves  pumping  specially  formulated  acids  and/or  chemicals  into  a  well  to  dissolve  materials  blocking  the  flow  of  the  oil  or  natural  gas.      

Acidizing  is  used  for  increasing  permeability  throughout  the  forma,on,  cleaning  forma,on  damage  near  the  wellbore  and  removing  the  buildup  of  materials  restric,ng  the  flow  in  the  forma,on.      

 Acidizing  is  a  recurring,  maintenance-­‐related  service,  and  can  be  performed  throughout  the  life  of  a  producing  well.    

Fluid  Management  Services  

ENSERVCO’s  Fluid  Management  business  transports  water  to  fill  frac  tanks  or  reservoirs  at  well  loca,ons,  transports  contaminated  produc,on  water  to  disposal  wells,  moves  drilling  and  comple,on  fluids  to  and  from  well  loca,ons,  and  transports  flow-­‐back  fluids  from  the  well  site  to  disposal  wells.        The  Fluid  Management  services  are  u,lized  during  both  the  drilling  and  long-­‐term  maintenance  of  a  well.  

   

Service  Assets  and  Capex  Ini,a,ves    !  August  2014  appraisal  of  rolling  stock  +  2014  Capex  +  North  Dakota  asset  acquisi,on  total  $50  million  in  fair  market  value  (excluding  real  estate)  

!  2014  Capex  Program  essen,ally  doubled  the  size  of  the  Company’s  fleet  

!  2015  Capex  plan  will  be  formulated  in  Q2  aoer  discussion  with  key  customers  

 Fleet  Expansion  Overview  

End  of  2013/2014    Season  

End  of    2014/2015  Season*  

Frac  Water  Hea,ng  Unit  Equivalents**   42   81  

Hot  Oiling  units   27   59  

Acid  Transport   3   7  

*    Includes  equipment  commissioned  under  the  2014  capital  expenditure  plan  and  effects  of  November  2014  asset  acquisi,on  **    Mega  Frac  Water  Heaters  have  twice  the  hea,ng  and  revenue  capacity  of  a  standard  hea,ng  unit,  and  therefore  are  counted  as  two  units.  

8  

Service  Territory  –  Demand-­‐driven  Expansion  

Colorado  1.  Denver  Headquarters  2.  Plaaeville  D-­‐J  Basin  &    Niobrara  Shale  Kansas  3.  Garden  City  Mississippi  Lime  North  Texas  4.  Hugoton  North  Dakota  5.  Killdeer  6.  Tioga  Bakken  Shale        

   

Pennsylvania  7.  Carmichaels  Marcellus  Shale  &    U-ca  Shale  Wyoming  8.  Rock  Springs  Jonah  Field  &  Powder  River  Basin  9.  Casper    Powder  River  Basin  Texas  10.  San  Antonio  Eagle  Ford  Shale  Nevada  11.  Elko  County        

ENSERVCO  Loca,ons  

Colorado  

Pennsylvania  

North  Dakota  

Kansas  

Wyoming  

1  2  

3  4  

5  

7  

9  

Exis,ng  territories Expansion  opportunity

10  

11  

6  

All locations are serviced by Heat Waves with the exception of Hugoton, which is serviced by Dillco.

Revenue  by  Service  Territory  

Replace with bar chart

Bars  reflect  12-­‐month  periods  from  April  1  -­‐  March  31,  encompassing  a  full  hea,ng  season  

$  in  millions  

 $-­‐        

 $10.0    

 $20.0    

 $30.0    

 $40.0    

 $50.0    

 $60.0    

2009/10   2010/11   2011/12   2012/13   2013/14  

Hugoton/Miss.  Lime   Marcellus/U,ca   Bakken   DJ  -­‐  Niobrara   Powder  River/Green  River   Other  

Selected  Customers    

Compe,,ve  Landscape  

!  Industry  consists  primarily  of  small  “mom  and  pop”  and  regionally  focused  service  providers  

!  Many  providers  operate  aging  equipment  with  limited  capacity  

!  ENSERVCO’s  Compe,,ve  Advantages:  

"  Only  na,onal  provider  of  hot  oiling,  well  acidizing,  frac  water  hea,ng  

" Modern  equipment  fleet  outperforms  most  compe,ng  providers  

" MSAs  with  leading  explora,on  and  produc,on  companies  

"  Low  employee  turnover  

"  Under-­‐leveraged  with  strong  balance  sheet  and  cash  flows  and  excellent  banking  rela,onship  

   $  in  thousands   2012   2013   2014*  

               Revenue   $31,498   $46,473   $56,564  

               %  growth   32%   48%   22%  

               Gross  profit   $7,953   $14,603   $15,306  

               %  margin   25%   31%   27%  

               Opera,ng  income   $1,701   $8,249   $6,948  

               Income  aoer  tax   $401   $4,301   $4,006  

               Adjusted  EBITDA   $4,940   $11,000   $11,476    

           %  margin   16%   24%   20%  

Financial  Highlights    

* 2014 revenue and profit growth reduced by impact of propane price fluctuations, customer stand-downs and unseasonably warm weather. Please see the Company’s press releases for additional information.

Financial  Highlights  (con,nued)    

$  in  thousands   December  31,    2014  

December  31,    2013  

Cash  &  Accts.  Rec.   $15,634   $13,554  

Current  assets   $19,476   $15,129  

Total  assets   $58,283   $33,422  

Working  capital   $13,663   $8,174  

LT  debt,  net  of  current  por,on*     $29,436   $11,200  

Total  liabili,es   $40,241   $20,577  

Total  liabili,es/equity   2.2:1   1.6:1  

LT  debt/equity   1.6:1   0.9:1  

Growth  Strategy  

  !  Two  pronged  approach  –  Organic  and  Acquisi,ons    !   Parameters  

1.  Balance  revenue  streams  between  recurring  maintenance  and  drill  bit  2.  Reduce  seasonality  3.  Diversify  service  offerings  4.  Maintain  high  gross  profit  margins  

!   Organic  •   CAPEX  –  e.g.  2014  Plan  •   Geographic  expansion  –  e.g.  Wyoming,  Texas  •   Both  sa,sfy  parameters  1,  2,  4  

!   Acquisi,ons  •   Opportunis,c  but  prudent  approach  in  current  oil  price  environment  •   Recent  $3.7M  asset  acquisi,on  sa,sfied  parameters  1,  2,  4  •   Strong  balance  sheet,  bank  rela,onship,  cash  flow  

Execu,on  of  Growth  Strategy  

!  Capitalize  on  con,nued  increase  in  strong  demand  for  well  enhancement  services  in  Rocky  Mountain  and  Northeastern  service  territories  

!  Leverage  early-­‐mover  status  with  LNG,  CNG  and  well-­‐gas  fueling  op,ons  for  frac  water  heaters  

!  Pursue  expansion  into  new  regions,  including  Texas  and  Nevada,  where  opportuni,es  exist  with  current  customers  

!  Leverage  MSAs  to  capture  new  business  as  E&Ps  narrow  their  vendor  lists  

 

Jay  Pfeiffer  Pfeiffer  High  Investor  

Rela,ons  303-­‐393-­‐7044  

jay@pfeifferhigh.com    

Contacts:

Rick  Kasch  President  &  CEO  

ENSERVCO  Corpora,on  303-­‐333-­‐3678  

rkasch@enservco.com    

Bob  Devers  Chief  Financial  Officer  ENSERVCO  Corpora,on  

720-­‐974-­‐3408  bdevers@enservco.com