(4th April, 2011)
TULSA, OK, Apr 04, 2011 (MARKETWIRE via COMTEX) — CAVU Resources, Inc. (”CAVU”), which trades as (pinksheets:CAVR) announce today that pinksheets.com filed CAVU’s annual report and exhibits after the company was unable to access its secured site with pinksheets on Friday.
The past years operations grew from $2,011,780 in 2009 revenue to $2,250,715 in 2010 from the reworking of its existing properties. This plan allows the company to make new acquisitions and have cash flow to sustain the company during this growth period. CAVU’s losses shrank to approximately $133,000 with profits targeted for 2011. CAVU has grown its total assets from approximately $3.8 to $5.8 million with approximately $1.5 million in net assets. The recently acquired 100% owned subsidiaries — FILO Quip Resources, LLC and Envirotek Fuel Systems, Inc. — produced and transported approximately 120,870 mcf of natural gas and over 6,000 barrels of oil in 2010 creating approximately $755,000 of revenue from gas and oil sales.
CAVU is just completing its massive rework of the 190 acre Chisholm Lease. CAVU plans to start a similar rework program on the 60 well Hogshooter lease the Company acquired in Nowata, Oklahoma. The Company plans to work simultaneously on its leases and begin the recently announced 100 well drilling program early this summer. With this recent acquisition and the long term drilling program in place the Company believes that new revenues and production should quickly surpass last year’s totals.
CAVU is focusing on projects and acquisitions that bring future value, increased revenues and new opportunity. Its wholly owned operating company, CAVU Energy Services, LLC, has targeted opportunities in both conventional and directional drilling in the Midwest United States. CAVU should continue to enjoy continued growth in 2011.
“The decked is already stacked with the sale of Envirotek Fuel Systems, Inc, and the two year drilling program. We should continue to see growth over 2010’s revenue this year,” 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 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 subsidiary, 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. provides natural gas delivery and marketing through its own pipelines and FILO quip Resources, LLC, a licensed Oil and Gas Operating Company, manages the company’s properties and leases in Oklahoma, 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. firstname.lastname@example.org CAVR.PK 5147 South Harvard Ave. Suite 138 Tulsa, OK 74135 Tel: 504-722-7402 Fax: 918-782-0776