|   | Filed herewith is the unaudited pro forma financial information of Enservco LLC, and Subsidiaries. |
|--------|----------------------------------------------------------------------------------------------------|

----

|   |                                             |      |
|--------|--------------------------------------------------|-----------|
|   |                                             | Page      |
|   |                                             |      |
|   |                                             |      |
|   | Independent Auditors’ Report               | F-3  |
|   |                                             |      |
|   | Consolidated Financial Statements                |      |
|   |                                             |      |
|   | Consolidated Balance Sheets                      | F-4       |
|   |                                             |      |
|   | Consolidated Statements of Operations            | F-5       |
|   |                                             |      |
|   | Consolidated Statements of Members’ Equity | F-6       |
|   |                                             |      |
|   | Consolidated Statements of Cash Flows            | F-7       |
|   |                                             |      |
|   | Notes to Consolidated Financial Statements       | F-9       |
|   |                                             |      |

----

----

|                                                             |   | June 30,    |       |   | December 31, |   |
|------------------------------------------------------------------|--------|-------------|------------|--------|--------------|--------|
|                                                             |   | 2010        |       |   | 2009         |   |   | 2008 |   |
|                                                             |   | (Unaudited) |       |   |         |   |   |   |   |
| ASSETS                                                           |   |        |       |   |         |   |   |   |   |
| Current Assets                                                   |   |        |       |   |         |   |   |   |   |
| Cash and cash equivalents                                        |   | $           | 926,377    |   |         | $      | 148,486 |   |   | $ | 915,985 |   |
| Accounts receivable, net                                         |   |        | 1,632,970  |   |         |   | 2,131,592 |   |   |   | 4,282,743 |   |
| Prepaid expenses and other current assets                        |   |        | 640,485    |   |         |   | 262,076 |   |   |   | 878,037 |   |
| Inventories                                                      |   |        | 265,306    |   |         |   | 309,927 |   |   |   | 339,697 |   |
| Income taxes receivable                                          |   |        | 385,192    |   |         |   | 385,192 |   |   |   | 286,406 |   |
| Deferred tax asset                                               |   |        | 82,435     |   |         |   | 82,435 |   |   |   | - |   |
| Total current assets                                             |   |        | 3,932,765  |   |         |   | 3,319,708 |   |   |   | 6,702,868 |   |
|                                                             |   |        |       |   |         |   |   |   |   |   |   |   |
| Related Party Receivables                                        |   |        | -          |   |         |   | - |   |   |   | 162,750 |   |
| Property and Equipment, net                                      |   |        | 14,680,453 |   |         |   | 16,452,812 |   |   |   | 18,089,007 |   |
| Non-Competition Agreements, net                                  |   |        | 540,000    |   |         |   | 660,000 |   |   |   | 1,621,673 |   |
| Goodwill                                                         |   |        | 301,086    |   |         |   | 301,087 |   |   |   | 301,087 |   |
| Other Assets                                                     |   |        | 53,355     |   |         |   | 97,034 |   |   |   | 110,000 |   |
|                                                             |   |        |       |   |         |   |   |   |   |   |   |   |
| TOTAL ASSETS                                                     |   | $           | 19,507,659 |   |         | $      | 20,830,641 |   |   | $ | 26,987,385 |   |
|                                                             |   |        |       |   |         |   |   |   |   |   |   |   |
| LIABILITIES AND MEMBERS’ EQUITY                            |   |        |       |   |         |   |   |   |   |   |   |   |
| Current Liabilities                                              |   |        |       |   |         |   |   |   |   |   |   |   |
| Accounts payable and accrued liabilities                         |   | $           | 1,361,375  |   |         | $      | 1,276,071 |   |   | $ | 1,667,635 |   |
| Line of credit borrowings                                        |   |        | 1,724,591  |   |         |   | 1,339,507 |   |   |   | 5,337,161 |   |
| Related party payables                                           |   |        | -          |   |         |   | - |   |   |   | - |   |
| Current portion of long-term debt                                |   |        | 906,427    |   |         |   | 1,864,954 |   |   |   | 3,205,118 |   |
| Total current liabilities                                        |   |        | 3,992,393  |   |         |   | 4,480,532 |   |   |   | 10,209,914 |   |
|                                                             |   |        |       |   |         |   |   |   |   |   |   |   |
| Long-Term Liabilities                                            |   |        |       |   |         |   |   |   |   |   |   |   |
| Related party payables                                           |   |        | 100,000    |   |         |   | 199,995 |   |   |   | - |   |
| Subordinated debt – related party                          |   |        | 1,700,000  |   |         |   | 500,000 |   |   |   | - |   |
| Long-term debt, less current portion                             |   |        | 9,696,887  |   |         |   | 9,959,974 |   |   |   | 7,307,828 |   |
| Interest rate swaps                                              |   |        | -          |   |         |   | 140,733 |   |   |   | 200,574 |   |
| Deferred income taxes, net                                       |   |        | 2,168,524  |   |         |   | 2,468,984 |   |   |   | 1,044,087 |   |
| Total long-term liabilities                                      |   |        | 13,665,411 |   |         |   | 13,269,686 |   |   |   | 8,552,489 |   |
| Total liabilities                                                |   |        | 17,657,804 |   |         |   | 17,750,218 |   |   |   | 18,762,403 |   |
|                                                             |   |        |       |   |         |   |   |   |   |   |   |   |
| Commitments and Contingencies                                    |   |        |       |   |         |   |   |   |   |   |   |   |
|                                                             |   |        |       |   |         |   |   |   |   |   |   |   |
| Members’ Equity                                            |   |        |       |   |         |   |   |   |   |   |   |   |
| Members’ equity                                            |   |        | 1,849,855  |   |         |   | 3,080,423 |   |   |   | 8,425,556 |   |
| Accumulated other comprehensive loss – interest rate swaps |   |        | -          |   |         |   | - |   |   |   | (200,574 | ) |
| Total members’ equity                                      |   |        | 1,849,855  |   |         |   | 3,080,423 |   |   |   | 8,224,982 |   |
|                                                             |   |        |       |   |         |   |   |   |   |   |   |   |
| TOTAL LIABILITIES AND MEMBERS’ EQUITY                      |   | $           | 19,507,659 |   |         | $      | 20,830,641 |   |   | $ | 26,987,385 |   |

----

|                                              |   | For the Six Months Ended |      |   | For the Years Ended |   |
|---------------------------------------------------|--------|--------------------------|-----------|--------|---------------------|--------|
|                                              |   | June 30,                 |      |   | December 31,        |   |
|                                              |   | 2010                     |      |   | 2009                |   |   | 2009 |   |   | 2008 |   |
|                                              |   | (Unaudited)              |      |   | (Unaudited)         |   |   |   |   |   |   |   |
|                                              |   |                     |      |   |                |   |   |   |   |   |   |   |
| Revenues                                          |   | $                        | 9,220,210 |   |                | $      | 8,679,990 |   |   | $ | 15,388,746 |   |   | $ | 30,605,392 |   |
|                                              |   |                     |      |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Cost of Revenue                                   |   |                     | 7,141,107 |   |                |   | 7,323,415 |   |   |   | 13,489,099 |   |   |   | 21,416,089 |   |
|                                              |   |                     |      |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Gross Profit                                      |   |                     | 2,079,103 |   |                |   | 1,356,575 |   |   |   | 1,899,647 |   |   |   | 9,189,303 |   |
|                                              |   |                     |      |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Operating Expenses                                |   |                     |      |   |                |   |   |   |   |   |   |   |   |   |   |   |
| General and administrative expenses               |   |                     | 865,794   |   |                |   | 427,243 |   |   |   | 1,486,124 |   |   |   | 1,781,075 |   |
| Depreciation and amortization                     |   |                     | 1,919,716 |   |                |   | 2,483,166 |   |   |   | 4,423,934 |   |   |   | 2,988,057 |   |
| Total operating expenses                          |   |                     | 2,785,510 |   |                |   | 2,910,409 |   |   |   | 5,910,058 |   |   |   | 4,769,132 |   |
|                                              |   |                     |      |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Income (Loss) from Operations                     |   |                     | (706,407  | )      |                |   | (1,553,834 | ) |   |   | (4,010,411 | ) |   |   | 4,420,171 |   |
|                                              |   |                     |      |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Other (Expense) Income                            |   |                     |      |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Interest expense                                  |   |                     | (359,552  | )      |                |   | (340,083 | ) |   |   | (699,125 | ) |   |   | (703,714 | ) |
| Gain (loss) on disposals of equipment             |   |                     | 7,125     |   |                |   | 8,696 |   |   |   | (79,785 | ) |   |   | (405,041 | ) |
| Unrealized derivative gain (loss)                 |   |                     | -         |   |                |   | - |   |   |   | (140,733 | ) |   |   | - |   |
| Interest and other income                         |   |                     | 83,364    |   |                |   | 5,155 |   |   |   | 7,472 |   |   |   | 23,098 |   |
| Total other (expense)                             |   |                     | (269,063  | )      |                |   | (326,232 | ) |   |   | (912,171 | ) |   |   | (1,085,657 | ) |
|                                              |   |                     |      |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Income (Loss) Before Income Tax (Expense) Benefit |   |                     | (975,470  | )      |                |   | (1,880,066 | ) |   |   | (4,922,582 | ) |   |   | 3,334,514 |   |
|                                              |   |                     |      |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Income Tax (Expense) Benefit                      |   |                     | 300,461   |   |                |   | 456,074 |   |   |   | (972,882 | ) |   |   | 103,381 |   |
|                                              |   |                     |      |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Net Income (Loss)                                 |   | $                        | (675,009  | )      |                | $      | (1,423,992 | ) |   | $ | (5,895,464 | ) |   | $ | 3,437,895 |   |

----

|                                                      |   | Members’ Equity |       |   | Accumulated Other Comprehensive Loss – Interest Rate Swaps |   |     | Total  |   |
|-----------------------------------------------------------|--------|-----------------------|------------|--------|------------------------------------------------------------------|--------|----------|--------|--------|
|                                                      |   |                  |       |   |                                                             |   |     |   |   |
| Balance, January 1, 2008                                  |   | $                     | 6,093,005  |   |                                                             | $      | -        |   |   | $ | 6,093,005 |   |
|                                                      |   |                  |       |   |                                                             |   |     |   |   |   |   |   |
| Net Income                                                |   |                  | 3,437,895  |   |                                                             |   | -        |   |   |   | 3,437,895 |   |
|                                                      |   |                  |       |   |                                                             |   |     |   |   |   |   |   |
| Distributions                                             |   |                  | (1,105,344 | )      |                                                             |   | -        |   |   |   | (1,105,344 | ) |
|                                                      |   |                  |       |   |                                                             |   |     |   |   |   |   |   |
| Other Comprehensive Loss – interest rate risk hedge |   |                  | -          |   |                                                             |   | (200,574 | )      |   |   | (200,574 | ) |
|                                                      |   |                  |       |   |                                                             |   |     |   |   |   |   |   |
| Balance, December 31, 2008                                |   |                  | 8,425,556  |   |                                                             |   | (200,574 | )      |   |   | 8,224,982 |   |
|                                                      |   |                  |       |   |                                                             |   |     |   |   |   |   |   |
| Net Loss                                                  |   |                  | (5,895,464 | )      |                                                             |   | -        |   |   |   | (5,895,464 | ) |
|                                                      |   |                  |       |   |                                                             |   |     |   |   |   |   |   |
| Contributions                                             |   |                  | 2,070,552  |   |                                                             |   | -        |   |   |   | 2,070,552 |   |
|                                                      |   |                  |       |   |                                                             |   |     |   |   |   |   |   |
| Distributions                                             |   |                  | (678,722   | )      |                                                             |   | -        |   |   |   | (678,722 | ) |
|                                                      |   |                  |       |   |                                                             |   |     |   |   |   |   |   |
| Deconsolidation of HNR (Note 1)                           |   |                  | (841,499   | )      |                                                             |   | -        |   |   |   | (841,499 | ) |
|                                                      |   |                  |       |   |                                                             |   |     |   |   |   |   |   |
| Other Comprehensive Gain – interest rate risk hedge |   |                  | -          |   |                                                             |   | 200,574  |   |   |   | 200,574 |   |
|                                                      |   |                  |       |   |                                                             |   |     |   |   |   |   |   |
| Balance, December 31, 2009                                |   |                  | 3,080,423  |   |                                                             |   | -        |   |   |   | 3,080,423 |   |
|                                                      |   |                  |       |   |                                                             |   |     |   |   |   |   |   |

----

|                                                                             |   | For the Six Months Ended |        |   | For the Years Ended |   |
|----------------------------------------------------------------------------------|--------|--------------------------|-------------|--------|---------------------|--------|
|                                                                             |   | June 30,                 |        |   | December 31,        |   |
|                                                                             |   | 2010                     |        |   | 2009                |   |   | 2009 |   |   | 2008 |   |
|                                                                             |   | (unaudited)              |        |   | (unaudited)         |   |   |   |   |   |   |   |
| OPERATING ACTIVITIES                                                             |   |                     |        |   |                |   |   |   |   |   |   |   |
| Net income (loss)                                                                |   | $                        | (675,009    | )      |                | $      | (1,423,992 | ) |   | $ | (5,895,464 | ) |   | $ | 3,437,895 |   |
| Adjustments to reconcile net income to net cash provided by operating activities |   |                     |        |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation and amortization                                                    |   |                     | 1,919,716   |   |                |   | 2,483,166 |   |   |   | 4,423,934 |   |   |   | 2,988,057 |   |
| (Gain) loss on disposal of equipment                                             |   |                     | (7,125      | )      |                |   | 8,696 |   |   |   | 79,785 |   |   |   | 405,041 |   |
| Deferred income taxes                                                            |   |                     | (300,460    | )      |                |   | (307,293 | ) |   |   | 1,342,463 |   |   |   | (24,315 | ) |
| Unrealized (gain) loss on derivatives                                            |   |                     | (140,733    | )      |                |   | - |   |   |   | 140,733 |   |   |   | - |   |
| Changes in operating assets and liabilities                                      |   |                     |        |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Accounts receivable                                                              |   |                     | 498,622     |   |                |   | 2,336,516 |   |   |   | 2,148,651 |   |   |   | (1,604,434 | ) |
| Income taxes receivable                                                          |   |                     | -           |   |                |   | (148,781 | ) |   |   | (98,786 | ) |   |   | (286,406 | ) |
| Inventories                                                                      |   |                     | 44,621      |   |                |   | 99,491 |   |   |   | 29,770 |   |   |   | (134,987 | ) |
| Other current assets                                                             |   |                     | (378,409    | )      |                |   | (45,102 | ) |   |   | 523,642 |   |   |   | (507,627 | ) |
| Accounts payable and accrued expenses                                            |   |                     | 85,304      |   |                |   | (396,125 | ) |   |   | (390,734 | ) |   |   | 301,174 |   |
| Net cash (used) provided in operating activities                                 |   |                     | 1,046,527   |   |                |   | 2,606,576 |   |   |   | 2,303,994 |   |   |   | 4,574,398 |   |
|                                                                             |   |                     |        |   |                |   |   |   |   |   |   |   |   |   |   |   |
| INVESTING ACTIVITIES                                                             |   |                     |        |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Purchases of property and equipment                                              |   |                     | (575,357    | )      |                |   | (1,098,440 | ) |   |   | (2,014,415 | ) |   |   | (7,780,126 | ) |
| Proceeds from sales of equipment                                                 |   |                     | 555,125     |   |                |   | (8,696 | ) |   |   | 31,103 |   |   |   | 1,318,000 |   |
| Decrease (increase) in related party receivables                                 |   |                     | -           |   |                |   | - |   |   |   | 162,750 |   |   |   | (155,560 | ) |
| Decrease (increase) in other assets                                              |   |                     | 43,679      |   |                |   | (126,554 | ) |   |   | (412,554 | ) |   |   | - |   |
| Purchases of investments                                                         |   |                     | -           |   |                |   | - |   |   |   | (4,714 | ) |   |   | (110,000 | ) |
| Net cash provided (used) in investing activities                                 |   |                     | 23,447      |   |                |   | (1,233,690 | ) |   |   | (2,237,830 | ) |   |   | (6,727,686 | ) |
|                                                                             |   |                     |        |   |                |   |   |   |   |   |   |   |   |   |   |   |
| FINANCING ACTIVITIES                                                             |   |                     |        |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Net line of credit borrowings                                                    |   |                     | 385,085     |   |                |   | 127,500 |   |   |   | 1,202,500 |   |   |   | 3,847,161 |   |
| Proceeds from issuance of long-term debt                                         |   |                     | 10,300,000  |   |                |   | - |   |   |   | 4,475,153 |   |   |   | 2,850,000 |   |
| Distributions to members                                                         |   |                     | (568,979    | )      |                |   | (100,778 | ) |   |   | (640,722 | ) |   |   | (957,746 | ) |
| Cash distributed to member through deconsolidation of HNR                        |   |                     | -           |   |                |   | - |   |   |   | (77,821 | ) |   |   | - |   |
| Contributions from members                                                       |   |                     | 13,420      |   |                |   | 124,505 |   |   |   | 2,070,552 |   |   |   | - |   |
| Repayment of long-term debt                                                      |   |                     | (10,421,609 | )      |                |   | (1,530,553 | ) |   |   | (7,863,325 | ) |   |   | (3,782,572 | ) |
| Net cash (used) provided in financing activities                                 |   |                     | (292,083    | )      |                |   | (1,379,326 | ) |   |   | (833,663 | ) |   |   | 1,956,843 |   |
|                                                                             |   |                     |        |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Net Increase (Decrease) in Cash and Cash Equivalents                             |   |                     | 777,891     |   |                |   | (6,440 | ) |   |   | (767,499 | ) |   |   | (196,445 | ) |
|                                                                             |   |                     |        |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Cash and Cash Equivalents, Beginning of Year                                     |   |                     | 148,486     |   |                |   | 915,985 |   |   |   | 915,985 |   |   |   | 1,112,430 |   |
|                                                                             |   |                     |        |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Cash and Cash Equivalents, End of Year                                           |   | $                        | 926,377     |   |                | $      | 909,545 |   |   | $ | 148,486 |   |   | $ | 915,985 |   |

----

|                                                                                        |   | For the Six Months Ended |   |   | For the Years Ended |   |
|---------------------------------------------------------------------------------------------|--------|--------------------------|--------|--------|---------------------|--------|
|                                                                                        |   | June 30,                 |   |   | December 31,        |   |
|                                                                                        |   | 2010                     |   |   | 2009                |   |   | 2009 |   |   | 2008 |   |
|                                                                                        |   | (unaudited)              |   |   | (unaudited)         |   |   |   |   |   |   |   |
|                                                                                        |   |                     |   |   |                |   |   |   |   |   |   |   |
| Non-cash impact of deconsolidation of HNR                                                   |   | $                        | -      |   |                | $      | - |   |   | $ | 763,678 |   |   | $ | - |   |
| Non-cash distribution of property and equipment to member                                   |   | $                        | -      |   |                | $      | - |   |   | $ | 38,000 |   |   | $ | - |   |
| Acquisition of property and equipment through issuance of long-term debt                    |   | $                        | -      |   |                | $      | - |   |   | $ | - |   |   | $ | 2,589,635 |   |
| Acquisition of Hot Oil Express non-competition agreement through issuance of long-term debt |   | $                        | -      |   |                | $      | - |   |   | $ | - |   |   | $ | 300,000 |   |

| Cash paid for interest     |   | $ | 378,122 |   |   | $ | 365,814 |   |   | $ | 690,463   |   |   | $ | 677,983 |   |
|----------------------------|--------|---|---------|--------|--------|---|---------|--------|--------|---|-----------|--------|--------|---|---------|--------|
| Cash paid for income taxes |   | $ | -       |   |   | $ | -       |   |   | $ | 1,055,317 |   |   | $ | 207,340 |   |

----

----

----

----

----

----

|   | Level 1: | Quoted prices are available in active markets for identical assets or liabilities; |
|--------|----------|------------------------------------------------------------------------------------|

|   | Level 2: | Quoted prices in active markets for similar assets and liabilities that are observable for the asset or liability; or |
|--------|----------|-----------------------------------------------------------------------------------------------------------------------|

|   | Level 3: | Unobservable pricing inputs that are generally less observable from objective sources, such as discounted cash flow models or valuations. |
|--------|----------|-------------------------------------------------------------------------------------------------------------------------------------------|

----

----

|                                                    |   | Heat Waves |     |   | Dillco |   |     | Hot Oil Express |   |   | Total   |   |
|---------------------------------------------------------|--------|------------|----------|--------|--------|--------|----------|-----------------|--------|--------|---------|--------|
|                                                    |   |       |     |   |   |   |     |            |   |   |    |   |
| Non-competition agreements - net, at January 1, 2008    |   | $          | 810,000  |   |   | $      | 902,091  |            |   | $      | 300,000 |   |   | $ | 2,012,091 |   |
|  Amortization for the year ended December 31, 2008 |   |       | (180,000 | )      |   |   | (180,418 | )               |   |   | (30,000 | )      |   |   | (390,418 | ) |
|                                                    |   |       |     |   |   |   |     |            |   |   |    |   |   |   |   |   |
| Non-competition agreements - net, at December 31, 2008  |   |       | 630,000  |   |   |   | 721,673  |            |   |   | 270,000 |   |   |   | 1,621,673 |   |
|  Amortization for the year ended December 31, 2009 |   |       | (180,000 | )      |   |   | (721,673 | )               |   |   | (60,000 | )      |   |   | (961,673 | ) |
|                                                    |   |       |     |   |   |   |     |            |   |   |    |   |   |   |   |   |
| Non-competition agreements - net, at December 31, 2009  |   | $          | 450,000  |   |   | $      | -        |            |   | $      | 210,000 |   |   | $ | 660,000 |   |

| Year Ended December 31, |   |   |    |
|-------------------------|--------|--------|---------|
|                    |   |   |    |
| 2010                    |   | $      | 240,000 |   |
| 2011                    |   |   | 240,000 |   |
| 2012                    |   |   | 150,000 |   |
| 2013                    |   |   | 30,000  |   |
|                    |   |   |    |   |
| Total                   |   | $      | 660,000 |   |
|                    |   |   |    |   |

----

|                         |   | December 31, |       |
|------------------------------|--------|--------------|------------|
|                         |   | 2009         |       |   | 2008 |   |
|                         |   |         |       |   |   |   |
| Trucks and vehicles          |   | $            | 15,775,425 |   |   | $ | 15,985,322 |   |
| Other equipment              |   |         | 3,982,089  |   |   |   | 3,452,583 |   |
| Buildings and improvements   |   |         | 1,705,313  |   |   |   | 1,673,528 |   |
| Trucks in process            |   |         | 1,164,161  |   |   |   | - |   |
| Land                         |   |         | 516,420    |   |   |   | 442,420 |   |
| Disposal wells               |   |         | 476,496    |   |   |   | 310,000 |   |
| Total property and equipment |   |         | 23,619,904 |   |   |   | 21,863,853 |   |
| Accumulated depreciation     |   |         | (7,167,092 | ) |   |   | (3,774,846 | ) |
|                         |   |         |       |   |   |   |   |   |
| Property and equipment - net |   | $            | 16,452,812 |   |   | $ | 18,089,007 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | December 31, |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | 2009         |   |   | 2008 |
| Note payable to a bank, original principal of $3,975,154, payable in interest only installments through June 2010 and monthly principal and interest installments through December 2014, variable rate interest of LIBOR plus 4%, collateralized by substantially all assets of the Company, guaranteed by the members of the Company, and was subject to financial covenants.  Subsequent to the year ended December 31, 2009, the Company refinanced the terms of the note payable (Note 15).  |   | $            | 3,975,154 |   |   | $ | - |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |         |   |   |   |   |   |
| Note payable to a bank, original principal of $4,525,000, payable in monthly principal and interest installments through December 2012, variable rate interest of LIBOR plus 4% swapped for fixed (see interest rate swaps below), collateralized by substantially all assets of the Company, guaranteed by the members of the Company, and was subject to financial covenants.  Subsequent to the year ended December 31, 2009, the Company refinanced the terms of the note payable (Note 15). |   |         | 2,510,859 |   |   |   | 3,648,499 |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | December 31, |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | 2009         |   |   | 2008 |
| Note payable to a bank, original principal of $2,450,000, payable in monthly principal and interest installments through May 2012, variable rate interest of LIBOR plus 4% swapped for fixed (see interest rate swaps below), collateralized by substantially all assets of the Company, guaranteed by the members of the Company, and was subject to financial covenants.  Subsequent to the year ended December 31, 2009, the Company refinanced the terms of the note payable (Note 15).  |   |         | 1,686,236 |   |   |   | 2,115,759 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |         |   |   |   |   |   |
| Note payable to a bank, original principal of $1,736,000, payable in monthly principal and interest installments through July 2012, variable rate interest of LIBOR plus 4% swapped for fixed (see interest rate swaps below), collateralized by substantially all assets of the Company, guaranteed by the members of the Company, and was subject to financial covenants.  Subsequent to the year ended December 31, 2009, the Company refinanced the terms of the note payable (Note 15). |   |         | 1,295,115 |   |   |   | 1,603,767 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |         |   |   |   |   |
| Note payable to member, subordinated to all bank debt, fixed interest at 3% compounding annually, interest paid in arrears December 31 of each year, due in December 2018.                                                                                                                                                                                                                                                                                                                             |   |         | 500,000 |   |   |   | - |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |         |   |   |   |   |
| Notes payable to equipment finance companies, interest at 2.97% to 4.74%, due in monthly principal and interest installments through January 2012, secured by equipment.                                                                                                                                                                                                                                                                                                                               |   |         | 459,180 |   |   |   | 684,978 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |         |   |   |   |   |
| Note payable to the seller of Heat Waves, interest at 8%, due in installments in January and May 2009, secured by land.  The note was garnished by the Internal Revenue Service (“IRS”) in 2009 and is due on demand.                                                                                                                                                                                                                                                            |   |         | 422,000 |   |   |   | 612,452 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |         |   |   |   |   |
| Note payable to a bank, original principal of $400,000, payable in monthly interest only installments through June 2010 and principal and interest installments through July 2013, interest at LIBOR plus 4% with a 5% floor, collateralized by substantially all assets of the Company, guaranteed by the members of the Company, subject to financial covenants.  Subsequent to the year ended December 31, 2009, the Company refinanced the terms of the note payable (Note 15).          |   |         | 365,178 |   |   |   | 387,879 |

----

|                                                                                                                                                                                           |   | December 31, |       |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------|------------|
|                                                                                                                                                                                           |   | 2009         |       |   | 2008 |   |
| Mortgage payable to a bank, interest at 8%, due in monthly payments through May 2012 with a balloon payment of $229,198 on June 15, 2012, secured by land, guaranteed by one of the members.   |   |         | 307,520    |   |   |   | 336,235 |   |
|                                                                                                                                                                                           |   |         |       |   |   |   |   |   |
| Holdback payable to the seller of Dillco, interest at 6%, due in bi-monthly installments of $50,000 in February 2010 and $66,667 every two months thereafter, maturing August 2010, unsecured. |   |         | 250,000    |   |   |   | 250,000 |   |
|                                                                                                                                                                                           |   |         |       |   |   |   |   |   |
| Note payable to the seller of Hot Oil Express, non-interest bearing, due in annual installments of $100,000 through March 2011, unsecured. Imputed interest is not significant.                |   |         | 200,000    |   |   |   | 300,000 |   |
|                                                                                                                                                                                           |   |         |       |   |   |   |   |   |
| Mortgage payable to a bank, interest at 8%, payable in monthly payments through August 2012 with a balloon payment of $141,707 on September 1, 2012, secured by land.                          |   |         | 163,689    |   |   |   | 170,775 |   |
|                                                                                                                                                                                           |   |         |       |   |   |   |   |   |
| Notes payable to a vehicle finance company, interest at fixed rates from 6.19% to 10.25%, due in monthly installments through May 2013, secured by vehicles, guaranteed by one of the members. |   |         | 155,949    |   |   |   | 205,798 |   |
|                                                                                                                                                                                           |   |         |       |   |   |   |   |   |
| Other notes payable, interest at 6% to 8%, due in monthly installments through August 2010, secured by equipment.                                                                              |   |         | 34,048     |   |   |   | 196,804 |   |
| Total                                                                                                                                                                                          |   |         | 12,324,928 |   |   |   | 10,512,946 |   |
| Less current portion                                                                                                                                                                           |   |         | (1,132,412 | ) |   |   | (3,205,118 | ) |
|                                                                                                                                                                                           |   |         |       |   |   |   |   |   |
| Long-term debt, net of current portion                                                                                                                                                         |   | $            | 11,192,516 |   |   | $ | 7,307,828 |   |

----

| Year Ended December 31, |   |   |       |
|-------------------------|--------|--------|------------|
|                    |   |   |       |
| 2010                    |   | $      | 3,204,461  |   |
| 2011                    |   |   | 2,397,729  |   |
| 2012                    |   |   | 2,494,768  |   |
| 2013                    |   |   | 2,029,977  |   |
| 2014                    |   |   | 2,025,000  |   |
| Thereafter              |   |   | 1,512,500  |   |
|                    |   |   |       |   |
| Total                   |   | $      | 13,664,435 |   |

----

|                         |   | December 31, 2009 |   |
|------------------------------|--------|-------------------|--------|
|                         |   | Level 1           |   |   | Level 2 |   |   | Level 3 |   |   | Total |   |
|                         |   |              |   |   |   |   |   |   |   |   |   |   |
| Interest rate swap liability |   | $                 | -      |   |   | $ | - |   |   | $ | 140,733 |   |   | $ | 140,733 |   |

|                         |   | December 31, 2008 |   |
|------------------------------|--------|-------------------|--------|
|                         |   | Level 1           |   |   | Level 2 |   |   | Level 3 |   |   | Total |   |
|                         |   |              |   |   |   |   |   |   |   |   |   |   |
| Interest rate swap liability |   | $                 | -      |   |   | $ | - |   |   | $ | 200,574 |   |   | $ | 200,574 |   |

----

| Balance, January 1, 2008   |   | $      | -       |   |
|----------------------------|--------|--------|---------|--------|
| Change in value            |   |   | 200,574 |   |
|                       |   |   |    |   |
| Balance, December 31, 2008 |   |   | 200,574 |   |
| Change in value            |   |   | (59,841 | )      |
|                       |   |   |    |   |
| Balance, December 31, 2009 |   | $      | 140,733 |   |

----

|                                      |   | December 31, |      |
|-------------------------------------------|--------|--------------|-----------|
|                                      |   | 2009         |      |   | 2008 |   |
| Current                                   |   |         |      |   |   |   |
| Federal                                   |   | $            | (383,049  | ) |   | $ | (65,598 | ) |
| State                                     |   |         | 13,468    |   |   |   | (13,468 | ) |
|                                      |   |         | (369,581  | ) |   |   | (79,066 | ) |
|                                      |   |         |      |   |   |   |   |   |
| Deferred                                  |   |         |      |   |   |   |   |   |
| Federal                                   |   |         | 1,227,924 |   |   |   | 46,048 |   |
| State                                     |   |         | 114,539   |   |   |   | (70,363 | ) |
|                                      |   |         | 1,342,463 |   |   |   | (24,315 | ) |
|                                      |   |         |      |   |   |   |   |   |
| Provision for (benefit from) income taxes |   | $            | 972,882   |   |   | $ | (103,381 | ) |

|                                         |   | December 31, |       |
|----------------------------------------------|--------|--------------|------------|
|                                         |   | 2009         |       |   | 2008 |   |
|                                         |   |         |       |   |   |   |
| Tax expense at federal statutory rate of 34% |   | $            | (1,673,678 | ) |   | $ | 1,133,735 |   |
| State income taxes                           |   |         | (107,968   | ) |   |   | (12,738 | ) |
| Change in tax status of subsidiary           |   |         | 1,807,600  |   |   |   | - |   |
| Income tax at owner level (pass-through)     |   |         | 939,497    |   |   |   | (1,220,350 | ) |
| Penalties                                    |   |         | 9,536      |   |   |   | - |   |
| Other                                        |   |         | (2,105     | ) |   |   | (4,028 | ) |
|                                         |   |         |       |   |   |   |   |   |
|                                         |   | $            | 972,882    |   |   | $ | (103,381 | ) |

----

|                           |   | December 31, 2009 |   |   | December 31, 2008 |   |
|--------------------------------|--------|-------------------|--------|--------|-------------------|--------|
|                           |   | Current           |   |   | Long-Term         |   |   | Current |   |   | Long-Term |   |
| Deferred tax assets            |   |              |   |   |              |   |   |   |   |   |   |   |
| Reserves and accruals          |   | $                 | 82,435 |   |              | $      | - |   |   | $ | - |   |   | $ | - |   |
| Amortization                   |   |              | -      |   |              |   | 120,830 |   |   |   | - |   |   |   | - |   |
| Capital losses                 |   |              | -      |   |              |   | 8,324 |   |   |   | - |   |   |   | - |   |
| Net operating losses           |   |              | -      |   |              |   | 66,038 |   |   |   | - |   |   |   | - |   |
| Total deferred tax assets      |   |              | 82,435 |   |              |   | 195,192 |   |   |   | - |   |   |   | - |   |
|                           |   |              |   |   |              |   |   |   |   |   |   |   |   |   |   |   |
| Deferred tax liabilities       |   |              |   |   |              |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation                   |   |              | -      |   |              |   | (2,664,176 | ) |   |   | - |   |   |   | (762,634 | ) |
| Acquired intangible assets     |   |              | -      |   |              |   | - |   |   |   | - |   |   |   | (281,452 | ) |
| Total deferred tax liabilities |   |              | -      |   |              |   | (2,664,176 | ) |   |   | - |   |   |   | (1,044,086 | ) |
|                           |   |              |   |   |              |   |   |   |   |   |   |   |   |   |   |   |
| Net deferred tax assets        |   | $                 | 82,435 |   |              | $      | (2,468,984 | ) |   | $ | - |   |   | $ | (1,044,086 | ) |

| Year Ending December 31, |   |   |    |
|--------------------------|--------|--------|---------|
|                     |   |   |    |
| 2010                     |   | $      | 195,000 |   |
| 2011                     |   |   | 145,000 |   |
| 2012                     |   |   | 25,000  |   |
|                     |   |   |    |   |
| Total                    |   | $      | 365,000 |   |

----

----

----

----

|                                                                                              |   | Aspen Twelve Months Ended June 30, 2010 |      |    | Enservco Twelve Months Ended June 30, 2010 |   |       | Total Before Pro Forma Adjustments |   |   | Pro Forma Adjustments |    |   | Pro Forma Combined |       |
|---------------------------------------------------------------------------------------------------|--------|----------------------------------------------|-----------|---------|--------------------------------------------|--------|------------|------------------------------------|--------|--------|-----------------------|---------|--------|--------------------|------------|
|                                                                                              |   |                                         |      |    | (Unaudited)                                |   |       |                               |   |   |                  |    |   |               |       |
|                                                                                              |   |                                         |      |    |                                       |   |       |                               |   |   |                  |    |   |               |       |
| Revenues                                                                                          |   | $                                            | -         |    |                                       | $      | 15,928,966 |                               |   | $      | 15,928,966            |    |   | $                  | -          |   |   | $ | 15,928,966 |   |
|                                                                                              |   |                                         |      |    |                                       |   |       |                               |   |   |                  |    |   |               |       |   |   |   |   |   |
| Cost of revenue                                                                                   |   |                                         | -         |    |                                       |   | 13,306,791 |                               |   |   | 13,306,791            |    |   |               | -          |   |   |   | 13,306,791 |   |
|                                                                                              |   |                                         |      |    |                                       |   |       |                               |   |   |                  |    |   |               |       |   |   |   |   |   |
| Gross profit                                                                                      |   |                                         | -         |    |                                       |   | 2,622,175  |                               |   |   | 2,622,175             |    |   |               | -          |   |   |   | 2,622,175 |   |
|                                                                                              |   |                                         |      |    |                                       |   |       |                               |   |   |                  |    |   |               |       |   |   |   |   |   |
| Expenses                                                                                          |   |                                         |      |    |                                       |   |       |                               |   |   |                  |    |   |               |       |   |   |   |   |   |
| Selling, general, and administrative                                                              |   |                                         | 780,924   |    |                                       |   | 1,924,675  |                               |   |   | 2,705,599             |    |   |               | -          |   |   |   | 2,705,599 |   |
| Depreciation and amortization                                                                     |   |                                         | 2,808     |    |                                       |   | 3,860,484  |                               |   |   | 3,863,292             |    |   |               | -          |   |   |   | 3,863,292 |   |
|                                                                                              |   |                                         |      |    |                                       |   |       |                               |   |   |                  |    |   |               |       |   |   |   |   |   |
| Operating loss                                                                                    |   |                                         | (783,732  | )       |                                       |   | (3,162,984 | )                                  |   |   | (3,946,716            | )       |   |               | -          |   |   |   | (3,946,716 | ) |
|                                                                                              |   |                                         |      |    |                                       |   |       |                               |   |   |                  |    |   |               |       |   |   |   |   |   |
| Other income (expenses)                                                                           |   |                                         |      |    |                                       |   |       |                               |   |   |                  |    |   |               |       |   |   |   |   |   |
| Interest and other income                                                                         |   |                                         | 32,383    |    |                                       |   | 85,681     |                               |   |   | 118,064               |    |   |               | -          |   |   |   | 118,064 |   |
| Interest and other expenses                                                                       |   |                                         | (6,550    | )  |                                       |   | (718,594   | )                                  |   |   | (725,144              | )       |   |               | -          |   |   |   | (725,144 | ) |
| Gain (loss) on sale of equipment                                                                  |   |                                         | -         |    |                                       |   | (81,356    | )                                  |   |   | (81,356               | )       |   |               | -          |   |   |   | (81,356 | ) |
| Unrealized derivative loss                                                                        |   |                                         | -         |    |                                       |   | (140,733   | )                                  |   |   | (140,733              | )       |   |               | -          |   |   |   | (140,733 | ) |
| Total other income (expenses)                                                                     |   |                                         | 25,833    |    |                                       |   | (855,002   | )                                  |   |   | (829,169              | )       |   |               | -          |   |   |   | (829,169 | ) |
|                                                                                              |   |                                         |      |    |                                       |   |       |                               |   |   |                  |    |   |               |       |   |   |   |   |   |
| Loss from continuing operations before income taxes                                               |   |                                         | (757,899  | )       |                                       |   | (4,017,986 | )                                  |   |   | (4,775,885            | )       |   |               | -          |   |   |   | (4,775,885 | ) |
|                                                                                              |   |                                         |      |    |                                       |   |       |                               |   |   |                  |    |   |               |       |   |   |   |   |   |
| Income tax benefit (expense)                                                                      |   |                                         | 253,215   |    |                                       |   | (1,128,495 | )                                  |   |   | (875,280              | )       |   |               | (92,268    | )  |  (1) |   | (967,548 | ) |
|                                                                                              |   |                                         |      |    |                                       |   |       |                               |   |   |                  |    |   |               |       |   |   |   |   |   |
| Loss from continuing operations                                                                   |   |                                         | (504,684  | )       |                                       |   | (5,146,481 | )                                  |   |   | (5,651,165            | )       |   |               | (92,268    | )  |   |   | (5,743,433 | ) |
|                                                                                              |   |                                         |      |    |                                       |   |       |                               |   |   |                  |    |   |               |       |   |   |   |   |   |
| Discontinued operations                                                                           |   |                                         |      |    |                                       |   |       |                               |   |   |                  |    |   |               |       |   |   |   |   |   |
| Loss on disposal of oil and gas operations                                                        |   |                                         | (50,540   | )       |                                       |   | -          |                               |   |   | (50,540               | )       |   |               | -          |   |   |   | (50,540 | ) |
|                                                                                              |   |                                         |      |    |                                       |   |       |                               |   |   |                  |    |   |               |       |   |   |   |   |   |
| Net loss                                                                                          |   | $                                            | (555,224  | )       |                                       | $      | (5,146,481 | )                                  |   | $      | (5,701,705            | )       |   | $                  | (92,268    | ) |   | $ | (5,793,973 | ) |
|                                                                                              |   |                                         |      |    |                                       |   |       |                               |   |   |                  |    |   |               |       |   |   |   |   |   |
| Basic net (loss) per share                                                                        |   | $                                            | (0.08     | )       |                                       | $      | (0.35      | )                                  |   | $      | (0.26                 | )  |   | $                  | (0.01      | ) |   | $ | (0.27 | )  |
|                                                                                              |   |                                         |      |    |                                       |   |       |                               |   |   |                  |    |   |               |       |   |   |   |   |   |
| Weighted average number of common shares outstanding used to calculate basic net (loss) per share |   |                                         | 7,259,622 |    |                                       |   | 14,519,244 |                               |   |   | 21,778,866            |    |   |               | 14,519,244 |   |   |   | 21,778,866 |   |

----

|                                                                              |   | Aspen  |      |   | Enservco    |   |                   | Total BeforePro Forma Adjustments |   |   | Pro Forma Adjustments  |   |   |   |        | Pro Forma Combined |   |
|-----------------------------------------------------------------------------------|--------|--------|-----------|--------|-------------|--------|------------------------|-----------------------------------|--------|--------|------------------------|--------|--------|--------|-------------|--------------------|--------|
|                                                                              |   |   |      |   | (Unaudited) |   |                   |                              |   |   |                   |   |   |   |        |               |   |
| Current assets                                                                    |   |   |      |   |        |   |                   |                              |   |   |                   |   |   |   |        |               |   |
| Cash and cash equivalents                                                         |   | $      | 3,017,002 |   |        | $      | 926,377                |                              |   | $      | 3,943,379              |   |   | $      | -           |               |   |   |   | $ | 3,943,379 |   |
| Marketable securities                                                             |   |   | 226,279   |   |        |   | -                      |                              |   |   | 226,279                |   |   |   | -           |               |   |   |   |   | 226,279 |   |
| Account and trade receivables                                                     |   |   | -         |   |        |   | 1,632,970              |                              |   |   | 1,632,970              |   |   |   | -           |               |   |   |   |   | 1,632,970 |   |
| Inventories                                                                       |   |   | -         |   |        |   | 265,306                |                              |   |   | 265,306                |   |   |   | -           |               |   |   |   |   | 265,306 |   |
| Income tax receivable                                                             |   |   | 266,156   |   |        |   | 385,192                |                              |   |   | 651,348                |   |   |   | -           |               |   |   |   |   | 385,192 |   |
| Deferred income tax                                                               |   |   | 55,000    |   |        |   | 82,435                 |                              |   |   | 137,435                |   |   |   | -           |               |   |   |   |   | 137,435 |   |
| Other current assets                                                              |   |   | 30,088    |   |        |   | 640,485                |                              |   |   | 670,573                |   |   |   | -           |               |   |   |   |   | 936,729 |   |
| Total current assets                                                              |   |   | 3,594,525 |   |        |   | 3,932,765              |                              |   |   | 7,527,290              |   |   |   | -           |               |   |   |   |   | 7,527,290 |   |
|                                                                              |   |   |      |   |        |   |                   |                              |   |   |                   |   |   |   |        |               |   |   |   |   |   |   |
| Property and equipment, net                                                       |   |   | 424       |   |        |   | 14,680,453             |                              |   |   | 14,680,877             |   |   |   | -           |               |   |   |   |   | 14,680,877 |   |
| Goodwill and intangibles, net                                                     |   |   | -         |   |        |   | 841,086                |                              |   |   | 841,086                |   |   |   | -           |               |   |   |   |   | 841,086 |   |
| Other Assets                                                                      |   |   |      |   |        |   | 53,355                 |                              |   |   | 53,355                 |   |   |   |        |               |   |   |   |   | 53,355 |   |
| Total assets                                                                      |   | $      | 3,594,949 |   |        | $      | 19,507,659             |                              |   | $      | 23,102,608             |   |   | $      | -           |               |   |   |   | $ | 23,102,608 |   |
|                                                                              |   |   |      |   |        |   |                   |                              |   |   |                   |   |   |   |        |               |   |   |   |   |   |   |
| Current liabilities                                                               |   |   |      |   |        |   |                   |                              |   |   |                   |   |   |   |        |               |   |   |   |   |   |   |
| Accounts payable                                                                  |   | $      | 80,405    |   |        | $      | 820,320                |                              |   | $      | 900,725                |   |   | $      | -           |               |   |   |   | $ | 900,725 |   |
| Accrued expenses                                                                  |   |   | -         |   |        |   | 541,055                |                              |   |   | 541,055                |   |   |   | -           |               |   |   |   |   | 541,055 |   |
| Line of credit borrowings                                                         |   |   | -         |   |        |   | 1,724,591              |                              |   |   | 1,724,591              |   |   |   | -           |               |   |   |   |   | 1,724,591 |   |
| Current portion of long-term debt                                                 |   |   | -         |   |        |   | 906,427                |                              |   |   | 906,427                |   |   |   | -           |               |   |   |   |   | 906,427 |   |
| Total current liabilities                                                         |   |   | 80,405    |   |        |   | 3,992,393              |                              |   |   | 4,072,798              |   |   |   | -           |               |   |   |   |   | 4,072,798 |   |
|                                                                              |   |   |      |   |        |   |                   |                              |   |   |                   |   |   |   |        |               |   |   |   |   |   |   |
| Long-term liabilities                                                             |   |   |      |   |        |   |                   |                              |   |   |                   |   |   |   |        |               |   |   |   |   |   |   |
| Subordinated debt    Accounts payable – related parties |   |   | -         |   |        |   | 1,700,000 100,000 |                              |   |   | 1,700,000 100,000 |   |   |   | -           |               |   |   |   |   | 1,700,000 100,000 |   |
| Long-term debt, less current portion                                              |   |   | -         |   |        |   | 9,696,887              |                              |   |   | 9,696,887              |   |   |   | -           |               |   |   |   |   | 9,696,887 |   |
| Deferred income taxes, net                                                        |   |   | -         |   |        |   | 2,168,524              |                              |   |   | 2,168,524              |   |   |   | -           |               |   |   |   |   | 2,168,524 |   |
| Total long-term liabilities                                                       |   |   | -         |   |        |   | 13,665,411             |                              |   |   | 13,665,411             |   |   |   | -           |               |   |   |   |   | 13,665,411 |   |
| Total liabilities                                                                 |   |   | 80,405    |   |        |   | 17,657,804             |                              |   |   | 17,738,209             |   |   |   | -           |               |   |   |   |   | 17,738,209 |   |
|                                                                              |   |   |      |   |        |   |                   |                              |   |   |                   |   |   |   |        |               |   |   |   |   |   |   |
| Stockholders’ equity                                                        |   |   |      |   |        |   |                   |                              |   |   |                   |   |   |   |        |               |   |   |   |   |   |   |
| Common stock, $0.005 par value                                                    |   |   | 36,298    |   |        |   | -                      |                              |   |   | 36,298                 |   |   |   | (36,298     | )                  | (1     | ) |   |   | 108,894 |   |
|                                                                              |   |   |      |   |        |   |                   |                              |   |   |                   |   |   |   | 72,596      |               | (2     | ) |   |   |   |   |
|                                                                              |   |   |      |   |        |   |                   |                              |   |   |                   |   |   |   | 36,298      |               | (3     | ) |   |   |   |   |
| Capital in excess of par value                                                    |   |   | 4,554,934 |   |        |   | -                      |                              |   |   | 4,554,934              |   |   |   | (4,554,934  | )                  | (1     | ) |   |   | 8,198,206 |   |
|                                                                              |   |   |      |   |        |   |                   |                              |   |   |                   |   |   |   | 3,610,685   |               | (1     | ) |   |   |   |   |
|                                                                              |   |   |      |   |        |   |                   |                              |   |   |                   |   |   |   | 4,660,117   |               | (3     | ) |   |   |   |   |
|                                                                              |   |   |      |   |        |   |                   |                              |   |   |                   |   |   |   | 14,446,648  |               | (2     | ) |   |   |   |   |
|                                                                              |   |   |      |   |        |   |                   |                              |   |   |                   |   |   |   | (14,519,244 | )                  | (2     | ) |   |   |   |   |
| Members’ equity                                                             |   |   | -         |   |        |   | 4,710,100              |                              |   |   | 4,710,100              |   |   |   | (4,710,100  | )                  | (3     | ) |   |   | - |   |
| Accumulated other comprehensive loss                                              |   |   | (521,464  | )      |        |   | -                      |                              |   |   | (521,464               | )      |   |   | 521,464     |               | (1     | ) |   |   | - |   |
|                                                                              |   |   |      |   |        |   |                   |                              |   |   |                   |   |   |   |        |               |   |   |   |   |   |   |
| Retained earnings (deficit)                                                       |   |   | (555,224  | )      |        |   | (2,860,245             | )                                 |   |   | (3,415,469             |   |   |   | 555,224     |               | (1     | ) |   |   | (2,860,245 | ) |
| Total stockholders’ equity                                                  |   |   | 3,514,544 |   |        |   | 1,849,855              |                              |   |   | 5,364,399              |   |   |   | -           |               |   |   |   |   | 5,364,399 |   |
|                                                                              |   |   |      |   |        |   |                   |                              |   |   |                   |   |   |   |        |               |   |   |   |   |   |   |
| Total liabilities and stockholders’ equity                                  |   | $      | 3,594,949 |   |        | $      | 19,507,659             |                              |   | $      | 23,102,608             |   |   | $      | -           |               |   |   |   | $ | 23,102,608 |   |

| (1)   | To remove the equity not assumed in the merger |
|-----------------|------------------------------------------------|

| (2)   | Aspen issued 14,519,244 shares of Aspen’s common stock to acquire Dillco Fluid Service, Inc., which resulted in the stockholders of Dillco owning approximately 67% of our outstanding common stock after the consummation of the Merger |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3)   | To reflect for accounting purposes the 7,259,622 shares of stock currently outstanding with Aspen as issued shares of Enservco pursuant to the reverse merger |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|

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