June 2010

Forward-Looking Statement Advisory

Certain statements included in this presentation constitute forward looking statements or forward looking information under applicable securities legislation. Such forward looking statements or information are provided for the purpose of providing information about managements current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions. Forward looking statements or information typically contain statements with words such as anticipate, believe, expect, plan, intend, estimate, propose, projected or similar words suggesting future outcomes or statements regarding an outlook. Forward looking statements or information in this presentation include, but are not limited to statements or information with respect to: business strategy and objectives; development plan; capital expenditures; net revenue; cash flow; debt levels; operating and other costs; and taxes. Forward looking statements or information are based on a number of factors and assumptions which have been used to develop such statements and information but which may prove to be incorrect. Although GASFRAC Energy Services Inc. (the Company) believes that the expectations reflected in such forward looking statements or information are reasonable, undue reliance should not be placed on forward looking statements because the Company can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified in this presentation, assumptions have been made regarding, among other things: the impact of increasing competition; the general stability of the economic environment in which the Company operates; the timely receipt of any services in a timely and cost efficient manner; and the ability of the Company to obtain financing on acceptable terms. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which have been used. Forward looking statements or information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by the Company and described in the forward looking statements or information. These risks and uncertainties which may cause actual results to differ materially from the forward looking statements or information include, among other things: the ability of management to execute its business plan; general economic and business conditions; fluctuations in oil and natural gas prices, foreign currency exchange rates and interest rates; credit risk; health, safety and environmental risks; and uncertainties as to the availability and cost of financing. Readers are cautioned that the foregoing list is not exhaustive of all possible risks and uncertainties. The forward looking statements or information contained in this presentation are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward looking statements or information, whether as a result of new information, future events or otherwise unless required by applicable securities laws. The forward looking statements or information contained in this presentation are expressly qualified by this cautionary statement. Any financial outlook or future oriented financial information in this presentation, as defined by applicable securities legislation, has been approved by management of the Company. Such financial outlook or future oriented financial information is provided for the purpose of providing information about managements current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes.

GASFRAC Overview
GASFRAC is a fracturing stimulation company which has commercialized new technology using Liquefied Propane Gas (LPG) as the fracturing fluid LPG was approved as a fracturing fluid by the Energy Utility Board (EUB) in 2007 and GASFRAC began equipment design & construction; at this time Patent Filings were initiated

GASFRACs technology is a proprietary fracturing process with 10 patents pending and currently 7 applications in process
GASFRAC has proven that LPG fracturing delivers enhanced well productivity across many reservoirs

GASFRACs technology has resulted in increased reserves for oil and gas companies
GASFRAC has completed over 390 fracturing treatments and has consistently proven the technical and economic benefits of LPG fracturing technology

GASFRACs proprietary technology will allow it to continue to grow market share and generate premium margins and returns
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Corporate History
Feb - Mar 2006
Dwight Loree started GASFRAC (35 years in fracturing business)
Raised $3.5MM at $1.00/share Proceeds Fund initial research and concept design
Equipment design Health and safety Gelation system Patent applications Approval from Energy and Utilities Board

May - Dec 2007

GASFRAC raised $24MM at $1.80/share
Proceeds GASFRAC commenced construction of 2 fracturing spreads

Jan - Sept 2008

Jan 2008, took delivery of first complete set of equipment
First fracture completed and technology began to be field proven and accepted by oil and gas producers Technology deemed a technical and commercial success

Sept 2008
GASFRAC demand greater than equipment available
GASFRAC raised $59.5MM at $4.25/share Proceeds Commenced construction of equipment expansion Generated revenue of $23.5MM in 2008

2009 - 2010 (Q1)

Managed to grow in very difficult operating environment Continued to prove technology in oil and gas plays such as Marcellus, Utica, Viking, Montney, etc. Sept 2009, took delivery of majority of equipment from 2008 capital raise Generated revenue of $30MM in 2009

Generated $15.9 MM of revenue in Q1 2010

Continues capital expansion Begins to establish US presence

Management
CEO:

Dwight Loree
51 years of oil and gas service experience 35 years of fracturing experience

Founder, GASFRAC Co-Founder, Trysol Inc., fracture fluid manufacturer Founder, Wild Mount Resources, oil and gas company Founding Partner, Canadian Fracmaster Ltd. Sales Manager, Nowsco Well Operations and sales, Dresser Eskimo

2006-current 1987-2000 1988-1991 1975-1985 1970-1975 1959-1969

COO - Canada:

Reid MacDonald
35 years of oil and gas industry experience

Vice President, Airborne Energy Solutions Vice President, Crown Industries Inc., stimulation equipment manufacturer CEO, Aker Maritime Canada, stimulation equipment manufacturer 23 years Nowsco Well Services (now BJ Services Canada), domestic and international operations 10 years in Research & Development, Halliburton 15.5 years in Technical sales and operations, Halliburton 3.5 years in Engineering Completions Advisor, EOG Resources Multiple patents issued and trade journal articles written President, HSE Integrated CFO, Complete Production Services CFO, DALSA Corporation CFO, Canadian FracMaster Director / Internal Audit, Nowsco Well Services Ltd.

COO - United States:

Audis Byrd
30 years of oil and gas completions and fracturing experience

CFO:

James Hill
28 years of oil and gas financial management experience 21 years in the oil well service sector

VP Engineering: VP - Cdn Operations: VP - US Operations:

Eric Tudor
23 years of fracturing experience

8 years at BJ Services Canada 12 years at Canadian Fracmaster 32 years in fracturing operations management 30 years in operational and completion management

Vic Fordyce Emmett Capt

- More Detailed Bios in Appendix A -

Board of Directors
Chairman:

Gerald Roe
BSc Mechanical Engineering

Orca Petroleum Trilogy Resources Sundance Oil Eurasia Gold

Director: Director:

Dwight Loree

CEO, GASFRAC Director, Profound Energy Inc. Director, Paramount Energy Operator Corp. CFO, Director, Fairquest Energy Inc. CFO, Fairborne Energy Ltd. CFO, Pan East Petroleum Corp. President, Lookout Enterprises Ltd. (Private) Atlantic Richfield Petro-Canada Frontier Engineering Passburg Petroleum

Robert Maitland
CA, ICD.D

Director:

Leo Schnitzler
BSc Mechanical Engineering

Director:

Dale Bossert
BSc Mechanical Engineering

Amoco Union Pacific Celsius Energy Founder & Chief Operating Officer, CalFrac Well Services Former President, CalFrac Offshore Ltd. Former Executive VP Operations, Director and Partner of Canadian Fracmaster Former Director, Uganst Fracmaster Former Director, Samotlor Services Former Director, Vahk Fracmaster

Director:

Robbie Roberts

- More Detailed Bios in Appendix A -

GASFRAC Process and Equipment Overview

LPG Bulkers - 73 m3 capacity Nitrogen support Nitrogen support

Chemical Addition
2500 HP LPG Frac Pumpers

1 of 100 T Proppant Blender 1 of 32 T Proppant Blender

Why Use Propane?

Enhances well productivity and provides higher returns for oil and gas producers Positive effect on oil and gas reserve estimates LPG purity eliminates possible reservoir contamination Proven in many oil and gas reservoirs Environmentally friendly and sustainable (no requirement for water, limited flaring) Proven to be safe

Enhanced Well Productivity

Fracture effectiveness is measured in effective fracture length (Surface Area) LPG is a formation compatible fracture fluid and is naturally occurring in the reservoir
No water damage to formation; water or oil cause considerable damage Produces more effective formation fracture length (no fluid blockage of fractures) Typically less than 50% of conventional fracture fluids are recovered from the well Capture initial flush production due to less flaring with fast fracture fluid recovery Faster clean up due to underbalanced nature of LPG fluids Excellent fluid for tight oil reservoirs due to LPG thinning oil in the reservoir LPG is compatible with both oil and gas reservoirs Low surface tension of LPG makes it clean up faster and better than conventional fluids

Frac Length and Production Impact

Initial Production 1,400 mcf/d LPG Frac

Fluid Clean Up to Flare With Conventional Water/Oil Frac 12 days x $6K = $72K Initial Production 750 mcf/d Conventional Frac Well Loading Requiring Well Intervention Coil Tubing 2 x $25K = $50K

GASFRAC

Conventional Frac

LPG Fracture Production and Economic Impact

Incremental Revenue from Zero Flare and Rapid Clean-up: $57K + $72K = $129K

1,400 mcf/d Incremental Rate/Production From 100% Effective Fracture Length Accelerated Recovery Gas Produced in First 12 Days: $57K 20% Increased rate over 3 years results in a NPV10 of $400K

750 mcf/d Incremental Reserves from 100% Effective Fracture Length

Flared: $72K in Lost Revenue

Assuming $4.00/mcf

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GASFRAC

Conventional Frac

VantageTM LPG Frac Applications - Oil

Doe Creek Oil

23 Years

(5 Months)

16% Incremental Reserves : 283K 243K = 39K BOE 39K BOE X $60 = $2.3MM!
16 T LPG Stimulation

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Environmental
LPG fracturing is a sustainable process for oil & gas operators by using products they produce to produce more hydrocarbons LPG fracturing eliminates the use of millions of gallons of potable water per well LPG reduces the need to flare production to clean up the traditional fracturing fluids, eliminating thousands of tons of CO2 emissions; this, in turn, generates carbon credits that have a substantial dollar value Eliminates the disposal of millions of gallons of non-potable fracturing water

Eliminates the need for biocides (insecticides) that are required in fracturing

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Health and Safety

Equipment and operating procedures meet or exceed industry standards for handling of LPG Pumping of Flammable Fluids: Industry Recommended Practice (IRP) Volume 8-2002 and NFPA 58 Liquefied Petroleum Gas Code

Continuously updating Independent Hazard and Operability performed by SIGMA Risk Management Inc. and Hood Engineering

Studies

The recommendations are incorporated into the equipment design and operating procedures to mitigate/eliminate potential risks We have conducted fracture treatments in the following jurisdictions: Alberta, British Columbia, Saskatchewan, Quebec, New Brunswick and Pennsylvania GASFRAC has the same insurance rating as conventional water frac companies

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GASFRAC Developed Top Tier Client list

GASFRAC has developed top tier clients reflecting the broad acceptance of the technology
Apache Corridor Resources Devon Caltex Husky Energy Yangarra Murphy Oil Nexen Paramount Resources Trilogy TAQA North

GASFRAC has built its revenue base without customer concentration. In 2009 no single customer accounted for more than 20% of GASFRACs revenue

30%

Combined revenue share of customers not within top 8

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LPG Fractures Proven on Majority of Formations

GASFRAC has completed fracture treatments on both oil and gas formations. Successful treatments have been completed on the following formations:
- Alberta - Artex - Bakken - Basal Colorado - Basal Quartz - Base Fish Scales - Beaverhill Lake - Belloy - Belly River - Blue Sky - Bow Island - Braeburn - Cadomin - Cadotte - Cardium - Charlie Niobrara - Chinkeh - Chinook - Dinosaur Park - Doe Creek - Doig - Dunvegan - Edmonton - Ellerslie - Falher - Gething - Glauconite - Halfway - Mannville - Upper Foremost Belly - Marcellus Shale River - Milk River - Upper Colorado Shale - Montney - Utica Shale - Muskwa - Viking - Nikanassin - Wilrich - Notikewin - Fredrick Brook Shale - Ostracod (New Brunswick) - Paddy - Rock Creek - Second White Specks - Shale - Sparky - Spirit River

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Market Focus / Segment

Gas - Oil Formations Stimulated to Date 7% 26% 67%
39% Gas - Oil Formations Q1 2010 11% 50%

Gas Well

Gas Well with NGL

Oil

Gas Well

Gas Well with NGL

Oil

Target
30%

30% 40%

Gas Well

Gas Well with NGL

Oil

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Key to GASFRAC Growth

GASFRAC has identified industry trends and positioned itself to capitalize on them

Industry
Multi-stage fracs Multi-zone and horizontal fracs Overall increase in wells completed utilizing fracturing Push from E&P companies to produce more from single well

GASFRAC
Utilize technology to enhance production beyond traditional levels Are able to operate in majority of formations Effective in conventional and unconventional reservoirs Work for horizontal and vertical wells Especially effective in difficult formations
Tight sands Shale Water sensitive Low pressure

Effective on depleted reservoirs

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Equipment Capital
Ordered Equipment Using 2010 CF
Sand Storage
3 x 100 tonne

Capital Expansion with New Equity

Sand Storage
3 x 100 tonne 17 pumpers 53 tanks 5 pumpers 3 units

Fracturing Pumpers
4 pumpers 10 tanks 1 pumper 13 units

Fracturing Pumpers LPG Storage Nitrogen Pumpers Propane Recovery Truck Tractors
52 units

LPG Storage Nitrogen Pumpers Truck Tractors

Miscellaneous Boost Pumps, Trailers, Chemical Vans, Data Vans

Capital Cost $14 MM

Source of Funds: Cash Flow Equity Debt 18 $14 MM $0 MM $0 MM $14 MM

Capital Cost $100 MM

Cash Flow Equity (net) Debt $4 MM $61 MM $35 MM $100 MM

Balance Sheet and Capital Structure

Balance Sheet - March 31, 2010
($000) (000)

Share Capital
Basic common shares O/S Warrants 1 Options 2 Fully Diluted Notes: Warrant average exercise price is $1.36. 2 Option average exercise price is $3.17.
1

Current Assets Capital Assets Total Assets Current Liabilities Long Term Debt 1 Shareholder Equity Total Liability and Equity Working Capital Working Capital in Days of 2010 Revenue 2 Notes:
1

23,509 68,714 $92,223 5,692 0 86,531 $92,223 $17,819

33,501 2,340 2,552 38,393

Directors and officers own approximately 9%.

70.1 Days

Company does not have any debt as at March 31, 2010. It intends to add $35 MM of long term debt as part of $100 MM capital equipment expansion. This facility has been put in place. In addition, GASFRAC will have a $15 MM operating facility.
2

This working capital level is consistent with what is generally required in the industry.
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Why Invest in GASFRAC

Proven and accepted technology Provides key services to growing multi-stage fracturing completion process Proprietary LPG technology causes: Elimination of need for water and related infrastructure during fracturing

Enhanced well productivity

Possible reserve revisions Customer demand outweighs equipment availability Strong proven management team and Board of Directors Strong balance sheet

Thank You for listening to the GASFRAC story.

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Alberta, May 2008

Alberta Oct, 2009

Control Centre (Data Van)

New Brunswick, 2009

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Pennsylvania, 2009

Appendix A Detailed Management Biographies

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Management
Dwight Loree, President & CEO, Founder
Dresser Eskimo, Operations and Sales (1959 to 1969) NOWSCO, Sales Manager (1970 to 1975) Recognized as #1 sales representative and major contributor to new product development, market introduction and systemization of Foam Fracturing Canadian Fracmaster Ltd., Partner and Sr. Vice President (1975 to 1985) One of two founding members with responsibilities for co-ordination of general operations, sales and marketing delivering 4 year sales growth of $300 million and a staff of over 700 Founder of Wild Mount Resources (1988 to 1991) Sold company to Trilogy Resources in 1991 Trysol Inc., Founder, Owner and President (1987 to 2001) Manufacturer and refiner of fracture oils and drill oils; sold to Enerchem Responsible for co-ordination of general operations, sales and marketing

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Management (continued)
Reid MacDonald, Executive Vice President & Chief Operating Officer, GASFRAC Energy Services Inc.
35 years oil and gas industry experience 23 years Nowsco Well Service Ltd., domestic, international offshore and onshore operations President & CEO, Aker Maritime Canada Vice President, Crown Industries Inc. Vice President, Airborne Energy Solutions Vice President & GM, Nabors Blue Sky Ltd.

Audis Byrd, Executive Vice President & Chief Operating Officer, GASFRAC Inc.
30 years experience in oil and gas industry management and technology for well construction, completions, fracturing and field operations 10 years Research & Development, Halliburton 15.5 years senior operations and technical sales management, Halliburton 3.5 years EOG Resources, Engineering Completions Advisor 12 US Patents Issued Multiple SPE Papers and Trade Journal Articles

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Management (continued)
James Hill, CA, Chief Financial Officer, GASFRAC Energy Services Inc.
28 years of financial and operational management experience in the oil and gas industry 21 years in the well servicing sector President, HSE Integrated CFO, Complete Production Services CFO, DALSA Corporation CFO, Canadian FracMaster Director / Internal Audit, Nowsco Well service Ltd.

Eric Tudor, P.Eng, Vice President Engineering, GASFRAC Energy Services Inc.
23 years of technical and sales experience in well fracturing business 12 years Fracmaster 8 years BJ Services 3 years GASFRAC Energy Services Inc.

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Management (continued)
Frank Oriold, Business Development Manager, GASFRAC Energy Services Inc.
34 years of Business Development experience in the well servicing business

Vic Fordyce, Vice President, Operations, GASFRAC Energy Services Inc.

32 years of operational and management experience in the well fracturing business

Emmett Capt, Vice President US Operations, GASFRAC Inc.

30 years of operational and management experience in well completions and operations

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Appendix B Maps of Treatment Locations

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GASFRACs Treatment Locations Through March 2010

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GASFRACs Treatment Locations In Western Canada

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Appendix C Technical Details

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Viscosity Comparison
3

FRAC OIL
2.5

Features of Reduced Viscosity: An order of magnitude reduction in viscosity results in an order of magnitude reduction in the pressure required to move the same volume of fluid through a porous media. Benefits of Reduced Viscosity: Greatly improves post fracture treatment fluid recovery that will maximize the effective fracture length and result in accelerated production and incremental reserves.

Viscosity (cP)

1.5

40% METHONAL WATER 50% - 40 API CARDIUM LIVE OIL / 50% FRAC OIL
1

0.5

40 API CARDIUM LIVE OIL

WATER 100% BUTANE

100% PROPANE 50% PROPANE - BUTANE 50% - 40 API CARDIUM LIVE OIL / 50% PROPANE
0 0

NATURAL GAS
20 40 60 80 100 120 140 160

-0.5

Temperature (C)

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Surface Tension Comparison

80

WATER
70

60

Features of Reduced Surface Tension: Surface Tension of the treatment fluid is directly proportional to Capillary Threshold Pressure or differential pressure required to mobilize fracturing fluid during cleanup. Benefits of Reduced Surface Tension: Greatly improves post fracture treatment fluid recovery that will maximize the effective fracture length and results in accelerated production and incremental reserves.

50 Surface Tension (dyn/cm)

40 % METHANOL WATER
40

30

40 API CARDIUM LIVE OIL / 50% FRAC OIL FRAC OIL 40 API CARDIUM LIVE OIL 40 API CARDIUM LIVE OIL / 50% PROPANE 100% PROPANE 50% PROPANE - BUTANE 100% BUTANE

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10

NATURAL GAS
0 0 -10 20 40 60 80 Temperature (C) 100 120 140 160

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