(19th September, 2011)
TULSA, Okla., Sept. 19, 2011 /PRNewswire via COMTEX/ — CAVU Resources, Inc. (”CAVU”), which trades as OTC: CAVR.PK, announced today that all proposals presented to the shareholders were Approved at the 2011 Annual shareholder meeting on Friday September 16, 2011. The company presented the following proposals.
Reelecting the Board of Directors for the Company to hold office until the next Annual Meeting.
Approved the spin-off of the Company’s Subsidiaries (CAVU Energy Services, LLC; FILO QUIP Resources, LLC; and CAVU Resources One, LP) into a separate independent company. Shareholders of record shall receive 1 share of common stock in new company for every 40 shares of CAVU Resources, Inc. owned on the record date.
Ratify the appointment of Cross & Robinson Certified Public Accountants as the company’s Auditors.
“We are very pleased with the results of the voting and the detailed information presented to the shareholders. We gave shareholders that could not attend, the opportunity to view the annual meeting live. The internet provider experienced some technical difficulties during the broadcast causing a loss of signal so we have now posted the recording of the meeting at http://www.cavu-resources.com/shareholder-video , so it can be viewed in its entirety. We are very excited about the future prospects and value this brings to our shareholders,” stated William C. Robinson, CEO 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.
CAVU’s operating subsidiary, CAVU Energy Services, Inc., 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. The company will utilize its own operating equipment and with strategic partners provide contract drilling, fracture stimulation and directional drilling services to oil, natural gas exploration and production companies. CAVU plans to expand operations not only in the traditional Oil and Gas business, but also to invest in technology, 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.
Contacts:Specialty Situations Investor RelationsTel: 973-507-6199
CAVU Resources, Inc.CAVR.PK5147 South Harvard Ave,Suite 138Tulsa, OK 74135Desai V. Robinson, Chief Information OfficerEmail: firstname.lastname@example.orgWebsite: www.cavu-resources.comTel : 504-722-7402Fax: 918-782-0776
SOURCE CAVU Resources, Inc.