(5th September, 2013)
Sep 05, 2013 (ACCESSWIRE via COMTEX) — TULSA, OK, September 5, 2013 - (Accesswire) - CAVU Resources. Inc. (CAVU), which trades as (otcpink:CAVR), announced the total August oil production on one well from the CAVU Resources Two partnership lease. President William Robinson stated, “Our production from one well that operated for the month of August was 1003.45 barrels. We are pleased with the performance of this first well that was purposely operated at a reduced capacity and yielded steady oil production throughout August.”
The company has also begun the tasks necessary to complete the re-work on three more wells on the lease and expects to have these additional wells on stream by the end of September. Robinson added, “We have our subcontractors in place and have utilized our equipment leasing line. We expect to be producing oil from these wells by the end of the month.”
CAVU CEO Louis Silver said, “Things seem to be lining up well for us now. Our equipment leasing line is supporting our well development, oil prices are at good levels and our relationships with contractors are productive. Billy has done yeoman’s work in accomplishing the re-building of this lease. We will be announcing the total production flow rate from all four wells as soon as we have safely increased the pumping rates of our equipment and established the optimal production flow. Your management team is working on deals to monetize our other assets and we are optimistic that with the summer ending we will be able to conclude some of the transactions which we have been pursuing.”
About CAVU Resources, Inc.
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 and Louisiana. CAVU’s operating subsidiary, CAVU Energy Services, Inc., a licensed Oil and Gas Operating Company, manages the company’s properties in Oklahoma with plans to operate targeted leases in Kansas, Texas and Louisiana. 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.
William Robinson, President
302 East 10th Street
Tulsa, OK 74120
Phone: 855-766-4695 ex 700
Louis E. Silver, CEO
Phone: 855-766-4695 ex 701
SOURCE CAVU Resources, Inc.