Cavan Ventures Inc.

Cavan Ventures Inc.

October 01, 2009 14:13 ET

Cavan Ventures Inc. Agreement to Purchase Oil and Gas Property Does Not Complete

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 1, 2009) - Cavan Ventures Inc. ("Cavan") (TSX VENTURE:CVN) announced that it entered into an agreement for the purchase of a non-operated working interest in a shut-in oil and gas property located in the Provost area in East Central Alberta for $280,000 and two million common shares issued at the price of $0.15 per share. The operator has identified four wells that it believes are candidates for reactivation.

Although Cavan was in the process of preparing a work plan and budget as well as hiring an independent qualified reserves evaluator or auditor to prepare a more detailed report, closing of the transaction did not complete before the deadline of September 25, 2009 due to certain subject conditions neither removed nor waived, including but not limited to title issues, adequate financing, and other conditions customary for this type of transaction.

This news release contains certain forward-looking statements that reflect the current views and/or expectations of Cavan with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.

Cavan is a public resources exploration company based in Vancouver, British Columbia trading on the TSX Venture under the symbol, CVN. Cavan's main business objective is to build a portfolio of resources properties with a focus on advancing quality properties to the production stage. For further information, please view Cavan's website at or call 604-628-5875.

On behalf of the Board of Directors, CAVAN VENTURES INC.:

Ming Chiang, President & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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