SOURCE: CAVU Resources Inc.

CAVU Resources Inc.

March 24, 2011 12:07 ET

CAVU Resources, Inc. Subsidiary CAVU Energy Services, LLC Enters Into Drilling Program Valued at $5,000,000

TULSA, OK--(Marketwire - March 24, 2011) - CAVU Resources, Inc. ("CAVU") (PINKSHEETS: CAVR) today announced its subsidiary CAVU Energy Services, LLC ("CAVU") has entered into an agreement with Energy Revenue America, LLC, a Texas limited liability company, ("Energy") to rework and or drill up to 100 wells in Nowata, Oklahoma valued at approximately $5,000,000.

The agreement calls for CAVU to begin reworking the wells on the Envirotek lease Energy is acquiring. With plans to begin in the next few weeks, CAVU has been moving its equipment to a staging area in Nowata, Oklahoma. Energy plans to have CAVU install new equipment, utilizing well stimulation, reentry, complete environmental audits and an action plan utilizing historical data from engineers targeting new drilling sites. The Envirotek property Energy is acquiring has 19 zones with 12 zones targeted that could potentially produce both gas and oil. The wells in the area have historically ranged from 600 to 1200 feet. These shallow wells will allow for a rapid development program. The existing transmission lines owned by Envirotek will be utilized along with planned expansion into undeveloped leases.

"This agreement utilizes idle operating assets of CAVU; this along with the sale of Envirotek should provide cash flow and profits for both 2011 and 2012," said William C. Robinson, CAVU's President.

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 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 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 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

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 Information

  • Contact:
    CAVU Resources, Inc.
    5147 South Harvard Ave, Suite 138
    Tulsa, OK 74135
    Tel: 504-722-7402
    Fax: 918-782-0776