CAVU Resources Announces New CEO and Long Term Equipment Funding
30 Gennaio 2013 - 3:30PM
Marketwired
CAVU Resources, Inc. ("CAVU"), which trades as (PINKSHEETS: CAVR),
announced several significant organizational and corporate
financial moves designed to build its management team, and to place
the company on a firm financial foundation from which to rapidly
and profitably expand its operations.
Effective immediately, Louis Silver has been appointed CEO.
Silver has held several senior management and CEO positions in the
services, manufacturing and financial services sectors. Mr. Silver
will focus on the general management, administrative management and
strategic corporate financial management functions of CAVU. His
presence will enable William Robinson to more effectively build the
oil and gas operations and oil services operations of CAVU.
CAVU has also formed an Advisory Board comprised of five
experienced executives from the diverse fields of corporate law,
investment banking, marketing and public relations to advise and
assist Messrs. Robinson and Silver on the strategic matters related
to growing CAVU and achieving its corporate goals.
William Robinson stated, "We feel that these additions to our
management team provide the organizational resources that will
supercharge the achievement of our plans and goals in an astute and
professional manner. Our management team has negotiated an
expandable line of credit to acquire equipment for its current and
targeted acquisitions. Increasing our cash flow will also allow us
to complete the payment of our vendor debt and move towards
eliminating all of our short term debt."
The company also announced that it secured an equity capital
injection from its management team that will immediately result in
the completion of the rework and reentry of two producing wells on
its Chisholm Lease, with the planned reentry into a 3rd well to
follow in the near future. The Company expects cash flow initially
to be $50,000 per month to CAVU ($35,000 net income), and once the
third well is reentered and producing, the projected cash flow
could increase to $90,000 per month. Supporting these efforts, and
the coming further expansion, is a new equipment funding Line that
CAVU has entered into that will accommodate most of its capital
equipment needs for the foreseeable future.
Louis Silver commented, "These financing achievements, executed
under favorable terms, will enable CAVU to produce significant cash
flow to internally fund our growth as we see our opportunities
right now, and to provide funds for shareholder dividends in the
not too distant future. Additionally, it gives the Company the
ability to move forward on the Chisholm Lease immediately and the
Hogshooter in the near future. Your new management team is
committed to keeping shareholders informed of significant
developments and closed transactions in the future, as we endeavor
to ensure that shareowners reap the lion's share of the rewards
from the upcoming opportunities that CAVU has secured."
About CAVU Resources, Inc.
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 and Louisiana. CAVU's operating
subsidiary, CAVU Energy Services, Inc., licensed Oil and Gas
Operating Company manages the company's properties in Oklahoma with
plans to operate targeted leases in Kansas and Louisiana. 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: CAVU Resources, Inc. William Robinson
Chairman 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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