Update to Shareholders regarding Acquisition of Flint Energy Services Ltd. by URS Corporation

(TSX: FES)

CALGARY, March 21, 2012 /CNW/ - Flint Energy Services Ltd. ("Flint") reminds its holders of common shares (the "Common Shares") and holders of options to purchase Common Shares (the "Options" and, together with the Common Shares, the "Securities", holders of which are collectively referred to as the "Securityholders") of the special meeting (the "Meeting") scheduled to be held on April 3, 2012 at 10:00 a.m. (Calgary time) at the Petroleum Club, 319 - 5^th Avenue S.W., Calgary, Alberta, as disclosed in the management information circular of Flint dated February 29, 2012.  The Meeting is being held to consider and, if deemed advisable, approve a special resolution approving a plan of arrangement (the "Arrangement") whereby URS Canada Holdings Ltd., a subsidiary of URS Corporation, will acquire all of the Common Shares and all outstanding Options will be surrendered to Flint.

Registered Securityholders may transmit their voting instructions by using the internet site at www.investorvote.com or by phoning the toll-free telephone number shown on the applicable form of proxy.  Non-registered Securityholders may transmit their voting instructions by submitting a completed voting instruction form to their intermediary. Securityholders seeking assistance with voting their Securities may direct their enquiries to Flint's proxy solicitation agent, Phoenix Advisory Partners, toll-free in North America at 1-800-921-9376 or by email at [email protected].  ISS Proxy Advisory Services and Glass, Lewis & Co., LLC, two independent proxy research and advisory firms, have published reports recommending that Securityholders vote for the Arrangement.  As previously announced, the board of directors of Flint unanimously recommends that Securityholders vote for the special resolution approving the Arrangement.  At the Meeting, a single vote in respect of the Arrangement will be conducted and the Arrangement must be approved by both: (i) 66⅔% of the votes cast by Securityholders present either in person or by proxy; and (ii) in accordance with the policies of the Toronto Stock Exchange, a simple majority of the votes cast by the holders of Common Shares present either in person or by proxy.

Flint Energy Services Ltd. is a leading service company 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 approximately 10,000 employees, Flint provides this unique breadth of products and services through over 80 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.

Guy Cocquyt, Vice President Communications, Telephone: [phone], [email protected], Website: www.flintenergy.com