(30th November, 2009)
TULSA, OK, Nov 30, 2009 (MARKETWIRE via COMTEX) — CAVU Resources, Inc. (”CAVU”) (PINKSHEETS: CAVR), which trades as OTC:CAVR.PK, announced today that the Company has signed an agreement to acquire up to 10,000 acres of Wind Options (Leases).
Analysis of the meteorological data thus far has revealed that this corridor is suitable for Large-Wind Electricity Generation development. In December 2007, the Colorado Governor’s Energy Office presented to Governor Bill Ritter a 70 page Report outlining all studies of renewable energy within the state. This report shows that CAVU’s acreage position is classified as Generation Development Area (GDA) 3 and has been independently verified that there is sufficient wind generation for a potential of 15 Gigawatt (GW) of power.
GDA 2 was tested at 6 GW and is only about 30 miles from CAVU’s target area. GDA 2 already has 3 wind farms with a collective 500 wind turbines up and running. GDA 2 is landlocked for future wind development as the South Platte River and Interstate 76 runs to the south and National Grasslands to the West.
“Our area has shown Class 4 Winds at heights of 50 meters and Class 5 and 6 winds at 100 meter tower height,” said William Robison, President of CAVU Resources, Inc. “More importantly, our acreage includes leases on key substations giving us the ability to actually transport wind generated electricity to market.”
CAVU will begin the process of applying for permits as well as getting altimeter towers installed so that the prerequisite data needed to properly install and configure wind turbines can be captured. The Company is exploring a Joint Venture option to capitalize on an experienced partner to co-develop the project. While the Company is on the 18 to 24 month path to getting wind turbines up and running, there is another intriguing element to this project that the company is pursuing on a parallel course.
“We are also working to secure oil and gas leases on the same acreage because there is natural gas present in the Niobrara formation here,” continued Robinson. “By drilling for natural gas and quickly bringing production online, this will provide both immediate and long term revenue from the same geographic area.”
In addition, the natural gas can be used to power generators that operate the wind turbines when the wind is not blowing. This should enable the Company to secure preferential pricing for its electricity because of its ability to commit to consistent monthly production thresholds. Furthermore, CAVU plans to deliver electricity and/or natural gas directly to dairies, farms, meat packing plants and other small retail energy consumers in the area.
“While it is now obvious that it is going to take all kinds of natural resources to meet our growing energy needs, the bottleneck today is the lack of capacity in many areas to be able to take energy generated by alternative fuel sources,” said Robinson. “So, we believe the fastest way to capitalize on these opportunities is to find low cost ways to take our energy directly to the end users. To that end, we will continue to execute our strategy of finding ways to bring energy to supply constrained areas.”
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. This gave you a clear view of your obstacles and allowed you to plan the best options to overcome them, 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 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 subsidiaries, CAVU Energy Services, LLC provides contract conventional and directional drilling services to oil and natural gas exploration and production companies. CAVU Operating Company, LLC plans to expand operations not only in the traditional Oil and Gas business, but also to invest in Geo-Thermal, Wind, Solar and security, 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 CAVR.PK 2533 N. Carson St. Suite 4116 Carson City, NV 89706 Tel: 775-888-3174 Fax: 775-883-2384