CAVU Resources, Inc.
Symbol: CAVR
Current Price: $0.38
Snapshot - "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. CAVU Resources has acquired significant oil and gas equipment including rigs, trucks and completion equipment and owns two pipelines in its area of operations. Natural gas and oil have started to move higher again and we are excited to be introducing CAVR as a play in the oil and natural gas industry! CAVR just announced after the bell on Wednesday, November 18th that its wholly owned subsidiary CAVU Resources One, LLC has received the first initial $50k investment on its $5 million dollar private placement. The first use of funds will be used to re-work two shut-in wells in their Hogshooter lease and pipeline project. We believe CAVR is about to become a major play in the independent oil and gas industry! We are entering the holiday season very soon and we could see the demand for energy start to increase! We believe oil & gas stocks will start to see more attention!"
CAVR announced big news on Wednesday, November 18th concerning the first initial $50k investment on its $5 million private placement. CAVR's subsidiary, CAVU Resources One, LLC has received the initial investment. CAVU Resources One, LLC was formed as a drilling and lease acquisition company.
Aside from the two shut-in wells in the company's Hogshooter lease and pipeline project, CAVR has also identified 8 locations for new wells!
From the PR, CAVU Resources President, William C. Robinson said, "We are pleased to have kicked off this drilling program," and "This drilling program will allow the Company to execute on our plans to explore and develop the Hogshooter lease and pipeline and structure future opportunities for the company."
CAVR announced a new Vice President on Wednesday, September 30th. The new VP, Conrad E. Archer, is known internationally for his expertise in the highly technical directional drilling arena.
According to the PR, Mr. Archer's vast contacts have also made available multiple Measurement While Drilling (MWD) guidance systems, Rotary Steerable Systems (RSS) and performance drilling motors (PDM) to service both current and future clients.
It was also disclosed in the PR that CAVU Energy Services has recently bid horizontal drilling projects with potential work worth $6.72 million with major multi-national operators in the Barnett and Marcellus Shale gas plays.
CAVR has "Current Information" status on PinkSheets.com, meeting necessary requirements for this status!
According to the PR, the measures taken by the company provide complete transparency on all information regarding CAVR and its business and financial conditions.
On August 14th, CAVR announced a letter of intent to acquire all of the outstanding shares of Filo Quip Resources, LLC., in a cash and stock transaction valued at two million dollars.
CAVR updated shareholders on the potential FILO Quip Resources, LLC acquisition on November 12th.
On July 30th, CAVR announced the acquisition of EnviroTek Fuel Systems, Inc. (EnviroTek) in a stock purchase agreement.
According to the PR, 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 purchased about 35 miles of pipeline that connects the wells and acreage position in the project; the total acquisition is valued over $470,000.
CAVR is well positioned to grow in the independent oil and gas industry and the initial investment on the $5 million drilling program was big news out on November 18th!
For more information, check out CAVR's Website is at www.cavu-resources.com.
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