TULSA, Okla., March 26, 2013 /PRNewswire/ -- CAVU Resources,
Inc. (CAVU) which trades as OTC PINK: CAVR, announced significant
progress in bringing on production at its Chisholm Field in Garvin County, OK. Five wells have been
reworked with new equipment on order and completion scheduled over
the next six weeks. The company also announced that it began
drawing down on its new Equipment credit line paying off existing
equipment purchases and ordering additional new equipment.
President and COO William
Robinson stated that they will begin pumping operations at
its second well sometime next week. "This will bring
production from the project up to an estimated 39 barrels of oil
per day. In the very near future we will complete the
re-entry and preparation work on two more wells, as part of our
ongoing plan to re-build production and revenues from this
field. We are estimating that the remaining wells to be
reworked will bring in an additional 100 barrels day in
production."
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,
Texas, 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 Texas, 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
302 East 10th Street
Tulsa, OK 74120
Email:
cavu76@icloud.com
Website:
www.cavu-resources.com
Tel: 504-722-7402
SOURCE CAVU Resources, Inc.