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CAVU Resources INC (OTCPK: CAVR) (CAVR)
CAVU Resources - CAVR 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.
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| Recent Price |
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| Market Capitalization |
$4.73M |
| Est Float |
8.6M |
| Outstanding Shares |
64M |
| Quotation |
OTC.PK |
CAVU Resources Inc.
2533 N. Carson City
Suite 4116
Carson City, NV 89706
Phone: 775-888-3174
Fax: 775-883-2384
http://www.cavu-resources.com
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CAVU Resources, Inc. Restructures Acquisition of FILO Quip Resources, LLC
CAVU Resources, Inc. has restructured the original acquisition of Filo Quip Resources, LLC. CAVU assumed the agreement to purchase FILO from a private investment group. The agreement calls for the assumption of specific liabilities and a combination of cash and a 6 month note transaction valued at $700,000 dollars. In the acquisition, CAVU is purchasing a 140 acre lease in Garvin County, Oklahoma that has two producing wells and seven additional wells that can be completed in down-hole reservoirs.
The two producing wells were originally drilled in the 1950s to the Bromide formation at about 3,000 feet. The wells were re-entered during the 1990s when companies in the area began testing deeper reservoirs. The wells were then deepened to the Oil Creek formation at about 3,800 feet. The two wells are currently producing a combined 35 to 40 barrels of oil per day (BOPD).
CAVU plans to re-enter the other seven wells on the lease and rework them with the possibility of deepening them to the Arbuckle at about 4,000 feet. On the way, the McLish and Oil Creek formations would be tested. Based upon results of the two producers and other wells contiguous to the lease, CAVU anticipates each of the seven wells to have average initial production rates of between 30 to 50 BOPD.
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CAVU Resources, Inc. Announces Acquisition of EnviroTek Fuel Systems, Inc.
CAVU Resources, Inc. announced that the Company has acquired EnviroTek Fuel Systems, Inc. (EnviroTek) in a stock purchase agreement. EnviroTek owns a 3,140 acre project in Nowata County, Oklahoma, which is about an hour north of Tulsa, OK.
Spread across three townships (or 13 miles), the project contains about 12 producing natural gas wells, 6 shut-in wells awaiting rework or completion in another zone, and about 40 to 50 proven and undeveloped (PUD) locations for new wells.
As part of the acquisition, CAVU also has purchased about 35 miles of pipeline that connects the wells and acreage position in this project. This transaction is valued at $500,000.
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CAVU Resources, Inc. (OTC.PK: CAVR)
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. We believe that our company will be the embodiment of its name.
CAVU was formed to be a fully self-supported independent energy company – which we define as a Company that has enough of its own equipment, services, leases, projects and assets to be able to keep most of the services needed in order to become a successful energy company ‘in-house.’ In the energy industry, one of the keys to success is being able to get access to field services in a timely and cost effective manner. This usually is only achieved by large companies who can contract services for multi-year contracts or by smaller independents like CAVU, who operate their own field services divisions.
CAVU’s has assembled a management team with diverse experience in the energy sector ranging from investment bankers to drillers to seasoned energy business professionals. Not only is CAVU’s team a top-shelf management team, the Company is also steered by an advisory committee that is comprised of some of the most respected and experienced professionals in our business.
With a sound model and an excellent management team, CAVU’s founders then began focusing on ensuring that the Company’s projects are among the very best available in the country. To that end, CAVU is focusing primarily on oil and gas fields that have been previously developed and abandoned prior to 1980. This strategy reduces risk and the impact of environmental issues usually faced with developing new fields. CAVU has recently acquired leases that have producing oil and gas wells, and plans to start a multi-well drilling program during the second quarter of this year.
CAVU’s business strategy will be growth through developing proven leases utilizing its core business assets in drilling as well as servicing (reworking and re-conditioning) existing production. The Company’s current area of focus includes Colorado, Montana, Oklahoma 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 its Oil Operating Company manages 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 and Wind, taking advantage of the changing environment and in the world's need for new, green and innovative resources.
Products & Services
Oil and Gas Production Projects
One of CAVU’s competitive advantages is its access to top shelf deal flow for projects in areas where major established companies have spent the millions of dollars to take the risk out of finding and proving up an area. Some of our current projects that demonstrate this are the following:
- 320 Acre Project in Morgan County, CO
- 960 Acre Project in Weld County, CO
- 18,000 Acre Project in Northern Montana
- 140 Acre Project in Garfield County, OK
- 3,000 Acre Project in Nowata County, OK
- 2,000 Acre Project in Rogers County, OK
- 1,780 Project in Baylor County, TX
- 40 miles of Gas pipeline Nowata County
- 50 miles oil/gas pipeline Nowata, Washington, Rogers counties
CAVU Energy Services, LLC
CAVU recently acquired three drilling rigs and the associated support equipment. The first rig (at right) is rated to 5,500’ and has just finished drilling two wells for another company about 40 minutes west of Tulsa, OK, and is currently being rebuilt in Oklahoma. The second and third rigs are air rigs that are rated to 2,000’ and are being moved to Nowata County, OK to drill wells on the Envirotek Fuel Systems leases. The company has also acquired the use of two directional drilling units for contract drilling, fracture stimulation and directional drilling services to oil, natural gas exploration and production companies.
CAVU has access to seasoned drilling crews both to work its own leases and to lease drilling services on a contract basis. CAVU recently closed a $1.1 million dollar funding with Verilease Finance, LLC for drilling and completion equipment.
To receive information about our drilling services, please click here.
Energy Trading
CAVU has recently set up operations in Dallas, Texas for fuel trading and has secured several suppliers for D-2 and JP 54 fuel supplies. Representatives looking for multi ton purchases of these products have approached CAVU, and so we are currently negotiating multiple transactions. With our recent and targeted acquisitions coupled with the proposed wind and co-generation facilities, CAVU may qualify for energy credits. If we do qualify, these credits can be traded in a secondary market that CAVU plans to utilize as an additional revenue stream.
Possible Future Business Units
The company is currently exploring additional opportunities in environmental services that include oil field clean up, disaster clean up, hazardous transportation, emergency response.
Company Officers
William C. Robinson, President
Lance Raley, Vice President, FILO Quip Resources, LLC
Conrad Archer, Vice President CAVU Energy Services, LLC
James Crane, CFO
Advisory Board
Stephen Johnson
Jeff Raley
Joseph Grace
Marinko Vekovic
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Disclosure
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