(24th September, 2009)
TULSA, OK, Sep 18, 2009 (MARKETWIRE via COMTEX) — CAVU Resources, Inc. (PINKSHEETS: CAVR) is pleased to announce that the Company has met the necessary requirements for “CURRENT INFORMATION STATUS” on Pinksheets.com.
These measures taken by the company provide complete transparency on all information regarding CAVR and its business and financial conditions. CAVR will continue to adhere to these transparency requirements in the future to maintain PS or “CURRENT INFORMATION STATUS.” This is a major advance for the company and is just the beginning for CAVR to be as transparent as possible as we grow. We are committed to bringing value to our shareholders. The information is located on WWW.PINKSHEETS.COM.
CAVU Resources, Inc. (”CAVU”) is an independent energy development company primarily engaged in the exploration, development, and production of natural resources that include oil, natural gas, wind and solar in the continental United States. The Company conducts its operations in these business areas through its wholly owned subsidiaries: CAVU Energy Services, LLC, CAVU Operating Company, LLC and EnviroTek Fuel Systems, Inc.
CAVU Energy Services provides contract and directional drilling services to oil and natural gas exploration and production companies. This subsidiary has three drilling rigs one rated to 5,500 feet, 3,000 feet, an air rig rated to 2,000 feet, and a work over rig along with all of the equipment required to operate and move these rigs to and from locations. CAVU Energy Services, LLC has recently negotiated a deal to secure its own fracture stimulation and directional drilling equipment. CAVU Operating Company handles all lease operations and project management for the Company’s existing and targeted projects in Oklahoma, Texas, Colorado and Montana.
“We founded CAVU Resources, Inc. with the idea that there would be a unified vision and focus: a fully self-supported independent energy company,” said William C. Robinson, President of CAVU. “We define that as a company that has enough of its own equipment, services, leases, projects and assets ‘in-house’ to not be dependent upon other companies,” he added.
In the energy industry, one of the keys to success is being able to get access to field services in a timely and cost effective manner. This usually is only achieved by large companies who can contract services for multi-year contracts or by smaller independents like CAVU, who have own their own field services divisions.
CAVU has assembled a management team with diverse experience in the energy sector ranging from investment bankers to drillers to seasoned energy business professionals. Not only is CAVU’s team a top-shelf management team, the Company is also steered by an advisory committee that is comprised of respected and experienced business professionals.
“I am excited for the future of this Company because we have worked hard to assemble what we believe are the right ingredients to success: top shelf people, low risk projects in some of the most prolific basins and fields in the country, and our own equipment to develop these projects,” added Robinson.
Currently, CAVU is focusing primarily on oil and gas fields that have been previously developed and abandoned prior to 1980. These projects are located in oil and gas fields where infield drilling and utilizing applications of surface chemistry can provide improved results. This strategy reduces risk and the impact of environmental issues usually faced with developing new fields. Some of CAVU’s recently acquired leases have producing oil and gas wells, and the Company has recently started a multi-well drilling program.
“While it is now obvious that it is going to take all kinds of natural resources to meet our growing energy needs, the bottleneck today is the lack of capacity in many areas to be able to take energy generated by alternative fuel sources,” said Robinson. “So, we believe the fastest way to capitalize on these opportunities is to find low cost ways to take our energy directly to the end users. Currently, our best example of this is in Nowata County, Oklahoma where we are in the process of expanding our pipeline in order to take the natural gas from our wells and sell directly to nearby small towns at more advantageous pricing for both parties,” he continued.
The Company is also pursuing a Wind Energy project in Northern Colorado. The Company is working to secure wind options (leases) as well as oil and gas leases since there is also natural gas to be found in the same area. This will allow the company to run its wind turbines on natural gas when the wind is not blowing, thereby enabling it to commit to certain electricity thresholds that it can deliver to the utility. In addition to getting preferential pricing for its electricity because of its ability to commit to these thresholds, the Company can also deliver electricity and/or natural gas directly to dairies, farms, meat packing plants and other small retail energy consumers.
“We have worked hard to create a company culture where we are always trying to identify synergies, create cost savings or maximize our efficiencies,” stated Robinson. “I think it is important that all of our business units work to find ways to help each other and overlap in ways that will improve our bottom line,” he concluded.
About CAVU Resources, Inc.
During World War II, Navy fighter pilots would look up at the sky and if it was a ‘CAVU’ day then it meant ceiling and visibility unlimited. The founders of CAVU Resources chose the name CAVU because they believe that the Company will be the embodiment of its name. CAVU was formed with the goal of becoming a recognized regional player in the independent oil and natural gas industry by growing the company’s oil and natural gas reserves. CAVU is a natural resource company engaged in the acquisition, exploration and development of oil and natural gas properties. The Company operates in the upstream segment of the oil and gas industry with planned activities including the drilling, completion and operation of oil and gas wells in Oklahoma, Kansas, Colorado and Texas. The Company also owns two pipelines in its area of operations which will be used for gathering its gas and oil and the gas and oil production of other producers. The Company has acquired leases and is currently exploring additional opportunities in oil, gas and helium leases. The company has acquired significant oil and gas equipment including rigs, trucks and completion equipment. CAVU’s 100% owned subsidiaries, CAVU Energy Services, LLC provides contract drilling, fracture stimulation and directional drilling services to oil and natural gas exploration and production companies. EnviroTek Fuel Systems, Inc., providing natural gas delivery and marketing thru its own pipelines, CAVU Operating Company, LLC managing the company’s properties and targeted leases in Oklahoma, Texas, Colorado and Montana. CAVU plans to expand operations not only in the traditional Oil and Gas business, but also to invest in Geo-Thermal, Wind, Solar and security, taking advantage of the changing environment and in the world’s need for new, green and innovative resources.
More information is available at the company’s website at http://www.cavu-resources.com.
Cautionary note: This report contains forward-looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specifically noted, are considered speculative. By their nature, forward-looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to U.S. investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as “reserves” unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.