(9th May, 2011)
TULSA, Okla., May 9, 2011 /PRNewswire via COMTEX/ — CAVU Resources, Inc. (”CAVU”), which trades as OTC: CAVR.PK, forecast revenues of $3.1 million for the first two quarters of 2011.
Operations are projected to grow from $1.5 million in 2010 revenue to $3.1 million in 2011, over a 100% increase. Several factors will influence the projected revenues, higher oil prices, increased production and the sale of assets, have all contributed to the forecasted numbers. CAVU will also benefit from decreased debt by $2.7 million and growth in its nets assets to $2.8 million.
CAVU is focusing on projects and acquisitions that bring revenue to its existing operating subsidiaries and staying focused on the related energy business. CAVU Energy Services, LLC will begin its $5 million dollar drilling and operational contract in June with multiple completions in both 2011 and 2012.
“With sale of EnviroTek Fuel Systems, Inc. and the focus on oil production, waste disposal, service, security and its operations business, CAVU’s revenues continue to build value and meet the expectations of our shareholders,” stated William Robinson, President of CAVU Resources, Inc.
CAVU should enjoy continued growth from new acquisitions and expansion of its existing leases and business subsidiaries in 2011. The final numbers could change in the company’s filed quarterly reports after final review from accounting and legal counsel.
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 and gas 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., provides natural gas delivery and marketing thru its own pipelines and FILO quip Resources, LLC a licensed Oil and Gas Operating Company manages the company’s properties and targeted 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.PK5147 South Harvard Ave,Suite 138Tulsa, OK 74135Tel: 504-722-7402Fax: 918-782-0776
SOURCE CAVU Resources, Inc.