CAVU Resources, Inc. ("CAVU") (PINKSHEETS: CAVR) announces the
initial financial results of the company, with $1,124,143 in net
revenue for the year ending 2011.
CAVU was able to increase 2011 revenues to $3,438,823, an
approximate 45% increase over the $2,250,715 for 2010. CAVU
completed the planned development on the Chisholm lease, acquiring
and putting into operation the Hogshooter lease and acquiring the
assets of the waste disposal facility in Arkansas. Oil Revenue on
the Chisholm lease was $304,071.96 a 33% increase over its 2010,
$236,172 results. The Chisholm lease has not produced continually
in 2011 with shut downs from the upgrades and equipment
replacements just recently completed. The production has been
primarily from the Chisholm B 2 well with the Nabors 1 and CAVU 1,
running for short periods of time. The planned disposal well will
allow the balance of the wells on the lease to be recompleted and
put into production in 2012.
Net revenues were $1,124,143 for 2011 for the first time since
the formation of CAVU compared to a loss of $133,915 in 2010.
CAVU's shareholders voted to merge three subsidiaries, reorganize
them and to spin off as a stock dividend. CAVU retained a 40%
minority ownership position in the newly restructured CAVU Energy
Services, Inc.,("CES") that included selling 6.2 acres of land, a
building, and the rights and equipment in place to the 50,000
barrel a day saltwater disposal well. CAVU Resources retained full
ownership of all of its leases (Hogshooter, Nowata, Garfield and
Chisholm), its lease options including their oil reserves,
production equipment, lines and pumps. CES will operate the leases
for CAVU and plans to expand its company operations, managing
wells, providing roustabout services, site preparation, the
construction and operation of saltwater disposal wells in high
activity production areas. CES still plans to file a registration
statement and to go public on a listed exchange by the third
quarter of 2012.
CAVU is focusing on acquiring energy assets, including proven
leases, new technology, reworking and or drilling new wells and
continuing to invest in the energy market. One deviation from this
focus plan is the LOI recently entered into with SUN Packaging,
Inc. and their long term solar installation contract. CAVU
continues to complete the due diligence on this acquisition to
confirm the valuations and proposed transactions brings a return
multiple that will reword the company's shareholders.
CAVU Resources, Inc. completed the sale of Envirotek Fuel
Systems, Inc. and sold additional nonperforming assets. CAVU has
grown its total assets from $5,876,015 in 2010 to $6,919,350 and
its net assets from $1,570,856 in 2010 to $3,785,746 in 2011.
Delays in closing and receiving the balance of these payments for
its subsidiary and asset sales, resulted in the company utilizing
equity to pay for all of the short term investments that were
committed to, anticipating these closings helping to create the
aforementioned results.
We are beginning to see a consistent payback of those sales
starting in the second quarter of 2012 reducing the need to
continue to convert debt or raise capital in the private placement
equity market. CAVU will continue to move its focus on projects
that can be funded with our own cash flow as well as conventional
borrowing and revenue sharing to reduce the need to issue new
equity, by increasing production revenue and third party
contracting; CAVU should enjoy continued growth in 2012. The final
numbers could change and the company's annual report will be
released with Pink Sheets after a final review from accounting and
legal counsel. The current outstanding share count is 472,192,475
and our Authorized is 611,000,000, we plan to keep our filings
current and expect to be fully transparent going forward.
"We are very pleased with the $1,124,143 or .006 cents a share
in profits for 2011. After investing in substantial infrastructure
costs, lease acquisition and contract options that have developed
our assets base and should complete the elimination of our debt. We
plan to bring on all of our producing leases increasing 2011's
output, close on our optioned leases this year and continue to seek
out new revenue producing properties, making 2012 our payback year
and reward our long-term shareholders with dividends in the future.
We would like to personally thank all of our shareholders for their
patience over the last year, as we build CAVU Resources into the
company we want it to be in 2012," stated William Robinson, CEO and
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 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, Montana and Texas. The
Company has acquired leases and is currently exploring additional
opportunities in oil and gas leases. CAVU's has a minority
subsidiary interest in CAVU Energy Services, Inc., a bonded Oil and
Gas Operating Company manages the company's properties in Oklahoma
and plans to operate targeted leases in Kansas, Colorado, Montana
and Texas. CAVU plans to utilize its own operating equipment and
with strategic partners provide contract drilling, fracture
stimulation and directional drilling services to oil, natural gas
exploration and production companies. CAVU plans to expand
operations not only in the traditional Oil and Gas business, but
also to invest in technology, waste disposal, and water
reclamation, 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.
Contacts: Specialty Situations Investor Relations Tel:
973-507-6199 CAVU Resources, Inc. Desai V. Robinson,
Director of Public Relations 5147 South Harvard Ave, STE 138 Tulsa,
OK 74135 Email: info@cavu-resources.com Website:
www.cavu-resources.com Tel: 504-722-7402
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