(13th July, 2011)
TULSA, Okla., July 13, 2011 /PRNewswire via COMTEX/ — CAVU Resources, Inc. (”CAVU”), which trades as OTC:CAVR, announce today that the company grossed approximately $3.1 Million in revenue for the first and second quarters of 2011. The company continues to make new acquisitions and have increased cash flow to sustain the company during this rapid growth period. CAVU’s losses shrank with final numbers to be released with the updated First and Second Quarter results to be filed in the next 2 weeks.
CAVU’s rework of the 190 acre Chisholm Lease and plans to start a similar rework program on the 60 well Hogshooter lease it acquired in Nowata Oklahoma will continue to provide production and revenue. With recent acquisitions and contracts located in Northeast Oklahoma, CAVU will work simultaneously on its leases and begin the 100 well drilling program this summer.
CAVU is focusing on projects and acquisitions that bring future value, increased revenues and new opportunity. Its new operating company CAVU Energy Services, LLC is pursuing waste water disposal and drilling in both conventional and directional drilling opportunities in the Midwest United States. Recently announced lower crude oil inventories and political and global events should continue to provide upward pressure on energy prices. Recent acquisitions and the long term drilling program in place, continues to move the company towards record revenues in 2011.
“With the Envirotek Fuel Systems sale, the two year drilling program and our recent acquisitions we expect to have the best year since the company was founded,” 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 pilots believed they would have unobstructed flying allowing them to see their targets quicker, identify the obstacles they needed to overcome, giving them a greater chance of success. The founders of CAVU Resources, Inc., 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, Montana and Texas. The Company has acquired leases and is currently exploring additional opportunities in oil and gas leases. The company has acquired operating 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. FILO Quip Resources, LLC a licensed Oil and Gas Operating Company manages the company’s properties in Oklahoma and plans to operate targeted leases in Kansas, Colorado, Montana and Texas. CAVU plans to expand operations not only in the traditional Oil and Gas business, but also to invest in waste disposal, Geo-Thermal and 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.
CAVU Resources, Inc.CAVR.PK5147 South Harvard Ave,Suite 138Tulsa, OK 74135Desai V. Robinson, Director of Public RelationsEmail: email@example.com Website: www.cavu-resources.com Tel: 504-722-7402Fax: 918-782-0776
SOURCE CAVU Resources, Inc.