CAVU Resources, Inc. Subsidiary Envirotek Fuels Systems Increased Production by 40% Thru Its Northeastern Oklahoma Pipeline
June 18 2010 - 4:15PM
Marketwired
CAVU Resources, Inc. ("CAVU"), which trades as (PINKSHEETS: CAVR),
announced today that the Company's wholly owned subsidiary
Envirotek Fuel System has increased its production by 40%. The gas
processing facility in Nowata Oklahoma has gone thru a recent
overhaul and retro fit. The 40.5 miles of a strategic gas pipeline
runs thru the company's 3,140 acre Hogshooter Project in Nowata
County, Oklahoma.
Envirotek has begun purchasing third party gas from producers
who have had their natural gas wells shut-in due to a limited
market for their gas have found Envirotek's upgraded facilities and
lower operating cost more attractive then the competing
transmission lines. Envirotek has already begun implementing its
field development schedule to tie shut-in wells in into its lines.
There are approximately a dozen wells that could immediately be
tied into the company lines. Additionally, there are producers
currently selling to other gas purchasers that have expressed an
interest in selling to Envirotek instead at better terms. By
purchasing the gas from these producers, the Company will be able
to charge transportation costs and generate cash flow that goes
almost entirely to the bottom line.
"Natural gas is the overlooked green energy. Gas powered plants
emit over 30% less carbon than similar coal powered plants. The
Pickens Plan calls for a conversion to natural gas automobiles. The
use of Natural gas is on a growth curve. We believe that our
upgraded facility and the access CAVU has to additional gas
production and transmission lines could play a big part to increase
revenue in this rediscovered green energy," said William Robinson,
President of CAVU Resources, Inc.
About CAVU Resources, Inc.
During World War II, Navy fighter pilots would look up at the
sky and if it was a "CAVU" day, it meant ceiling and visibility
unlimited. Pilots knew their path would be clear and their target
or goal would be clearly visible. 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 drilling, fracture stimulation and
directional drilling services to oil, natural gas exploration and
production companies. Envirotek Fuel Systems, Inc., providing
natural gas delivery and marketing thru its own pipelines, FILO
Quip Resources, LLC managing the company's properties and targeted
leases in Oklahoma, Texas, 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. info@cavu-resources.com CAVR.PK
5147 South Harvard Ave. Suite 138 Tulsa, OK 74135 Tel: 504-722-7402
Fax: 918-782-0776
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