(19th April, 2010)
TULSA, OK, Apr 19, 2010 (MARKETWIRE via COMTEX) — CAVU Resources, Inc. (”CAVU”), which trades as (PINKSHEETS: CAVR), announces the initial financial results of the company.
The past year’s operations grew from $150,000 in 2008 revenue to $2,011,780 in 2009 from acquisitions as well as internal growth providing net losses of approximately $197,000. CAVU has grown its total assets from approximately $653,000 to $4.8 million with approximately $1.2 million in net assets. The recently acquired 100% owned subsidiaries FILO Quip Resources, LLC (”FILO”) and Envirotek Fuel Systems, Inc. (”Envirotek”) produced and transported approximately 161,500,000 mcf of natural gas and 3,200 barrels of oil in 2009 creating over $400,000 of revenue from gas sales and oil sales. The recent acquisition of an additional pipeline and the start of well rework and development programs should add new revenues to CAVU’s wholly owned subsidiaries.
CAVU is focusing on projects and acquisitions that bring future value, increased revenues and the opportunity for future profits. CAVU has sold non-producing assets and will focus only on cash flow positive acquisitions. Its new operating company CAVU Energy Services, LLC has targeted drilling in both conventional and directional drilling opportunities in the United States and abroad. CAVU’s future growth will focus on projects that can be funded with conventional borrowing and revenue sharing to reducing the need to issue new equity. By increasing production revenue and third party contracting, CAVU should enjoy continued growth in 2010. The final numbers could change and the company’s annual report and the planned annual meeting date will be released with Pink Sheets after final review from auditors and legal counsel.
“With the high initial start up and infrastructure costs behind us, new revenue from our own producing oil and gas fields should provide the company with positive cash flow in 2010. We are also quickly paying down the company debt increasing CAVU’s net worth creating a strong asset base to work from,” stated William Robinson President of CAVU Resources, Inc.
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 flight would be easier, the target quickly visible and the chance of success greater. 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 three 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, natural gas exploration and production companies. EnviroTek Fuel Systems, Inc., providing natural gas delivery and marketing thru its own pipelines and FILO Quip Resources, 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, 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.
Contact: CAVU Resources, Inc. email@example.com 2533 N. Carson St. Suite 4116 Carson City, NV 89706 Tel: 775-888-3174 Fax: 775-883-2384 Cell: 504-722-7402