| CAVR and Allied Energy, Inc. Complete $.49 Million Pipeline Contract |
TULSA, OK -- (MARKET WIRE) -- 12/04/09 -- CAVU Resources, Inc. ("CAVU"), which trades as (PINKSHEETS: CAVR), announced today that the Company has completed a $.49 million contract from Allied Energy, Inc. to lay approximately 6 miles of pipeline, which creates numerous future drill-site locations and connects six existing Allied wells including the R. Minor #1 and #1A to the main gas line. The contract called for CAVU to build a pipeline from one of Allied's natural gas fields and connect it to another gas field where Allied Gas Transmission, a majority owned subsidiary of Allied Energy, Inc. , has a compressor station, master meter, gas processing equipment and gas tap directly into a gas pipeline that feeds into a local power plant.
CAVU submitted a bid to Allied Energy in April 2009 and was asked to detail several different routes and options. After working closely with senior management from Allied Energy over the course of several months, CAVU secured the contract. The bulk of the field work involves trenching, laying of lines. Working with Allied's wholly owned subsidiary Allied Operating, LLC , the last phase that included boring roads and tying in the connection lines on the project was recently completed.
"We believe this contract speaks volumes about the quality of both companies' field teams," said William Robinson, President of CAVU Resources, Inc. "When a company of Allied's caliber selects you for one of their critical projects, I think it is a very good compliment. We look forward to helping Allied make this major leap forward in its field development plan," he continued.
"We also think that there is also the additional benefit of other companies in the area seeing the work we do and contacting us for bids on projects they may have," added Robinson. "With the recent rebound in oil prices and the optimistic outlook for gas, work is starting to pick up in the oil patch and we think we'll start seeing bids for drilling and field services."
About Allied Energy, Inc.
Allied Energy, Inc. is an independent energy development firm primarily engaged in the exploration, development, and production of oil and natural gas in the continental United States. The company relies upon its industry partners, well operators, geologists, petroleum engineers, recommendations from third parties and financial experts whose combined industry experience is essential to the success of each project. Allied Energy's strategic focus is the development of oil and natural gas reserves. As the fuel of choice to meet the growing demand for a clean-burning domestically produced fuel, the company firmly believes its natural gas exploration strategy should provide substantial growth to the company for the years to come.
The Company has more than 6,000 acres under lease, more than 70 wells under development (128 +/- well-bores under control) and continues to build its own gas line infrastructure system in Rogers County to maximize its price for gas at the wellhead. Allied and its partners are also participating in oil and gas projects located in Leon County, Texas, Morgan County, Colorado and Washington/Athens Counties, Ohio.
The Company has a wholly owned subsidiary, Allied Operating LLC , including a field office, ten (10) employees and various equipment located in Oolagah, Oklahoma. Allied Operating supervises the Company's field operations (120 +/- well-bores) located in Rogers and Pawnee Counties, Oklahoma. Earlier this year, Allied Energy, Inc. formed Allied Gas Transmission, a majority owned subsidiary, also located in Rogers County, Oklahoma. Allied Gas Transmission is currently developing a gas pipeline / transmission system in Rogers County.
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 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. CA VU's 100% owned subsidiaries, CAVU Energy Services, LLC provides contract drilling, fracture stimulation and directional drilling services to oil and natural gas exploration and production companies. EnviroTek Fuel Systems, Inc. , providing natural gas delivery and marketing thru its own pipelines, CAVU Operating Company, 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, Solar and security, taking advantage of the changing environment and in the world's need for new, green and innovative resources.
| CAVU Resources INC (OTCPK: CAVR) Stock Symbol :: CAVR |
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 | CAVU Resources INC (OTCPK: CAVR) (CAVR) CAVU Resources (OTCPK: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, Montanna, Colorado and Texas. | |||||||||||
CAVU Resources Inc. 2533 N. Carson City Suite 4116 Carson City, NV 89706 Phone: 504-722-7402 Fax: http://www.cavu-resources.com |
· Magnum Hunter Resources Corporation, formerly Petro Resources Corporation, is an independent oil and gas company engaged in the acquisition, drilling and production of oil and natural gas properties and prospects within the United States. The acquisition and exploration pursuits of oil and natural gas properties are located in Texas, Louisiana, North Dakota, New Mexico and Kentucky. AMEX:MHR Recent Price: $.96 · The Meridian Resource Corporation ( Meridian), incorporated in 1990, is an independent oil and natural gas company. The Company explores for, acquires and develops oil and natural gas properties. As of December 31, 2008, it had proved reserves of 80 billion cubic feet (Bcfe). Sixty-three percent of its proved reserves were natural gas and approximately 64% were classified as proved developed. NYSE: TMR Recent Price:$.39 |
| Current Projects |
 | CAVU Resources, Inc. restructures Acquisition of FILO Quip Resources, LLCThe Company 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 we lls 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. | 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; the total acquisition is valued over $470,000. |
| Company Overview |
CAVU Resources. (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. The founders of CAVU Resources chose the name CAVU because they believe that the Company will be the embodiment of its name with a clear vision and identified goals. 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, CAVU Operating Company, 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, Solar and security, taking advantage of the changing environment and in the world’s need for new, green and innovative resources. Products & ServicesOil 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:
Drilling Services CAVU recently acquired three drilling rigs and the associated support equipment. The first rig is rated to 5000’, (at right) is rated to 5,500’ and the second rig is rated to 3,000’ and the third rig is an air rig that is rated to 2,000’ and it is being moved to Nowata County, OK to begin a drilling program on the Hogshooter project. 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. Alternative Energy Projects The main ‘wind corridor’ in the United States is a 1,200 mile area that runs from Wyoming through Colorado and Kansas into Oklahoma, New Mexico and Texas. In this corridor, wind farm developers include Cielo Energy, Florida Power and Light, Third Planet, Seawest, National Wind, John Deere Wind and others. These are the companies that are now most actively contracting with Landmen/Land Agents to buy up the rights to develop surface projects and leases within this trend. CAVU has identified four potential Wind Farm locations and is working to negotiate the right to purchase wind energy leases. In December 2007, the Colorado Governor’s Energy Office (CGE) presented to Governor Bill Ritter a 70 page Report outlining all studies of renewable energy within the state. This report identifies areas defined as generation development area (GDA), and CAVU is working to secure leases within these GDA’s where it has been independently verified that there is sufficient wind generation to sustain a wind farm. These areas range in potential generation from 2 Gigawatt (GW) of power to 45 GW. Security Systems Oil field security is growing business segment with renewed security threats to oil and gas fields around the world. With volatile prices, and difficult economic times, the theft of product and equipment has opened a new revenue opportunity for CAVU’s client base. CAVU has recently developed a security tower utilizing products currently in use by security professionals in government, critical infrastructure, transportation and other security environments. This has given CAVU access to proven, night vision technology, motion sensor and GPS monitoring security technology. CAVU’s systems will provide long-range night vision solution that captures detailed, natural contrast images in zero light at ranges of up to 3,000 meters, even in foul weather and through tinted glass. Delivered via our proprietary camera and hardware system, CAVU’s security technology is ideal for perimeter security in oil security, government, transportation, critical infrastructure and other secur ity environments. 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, and solar farms. Company Officers William C. Robinson, President |
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