TULSA, Okla., Sept. 6, 2011 /PRNewswire/ -- CAVU Resources,
Inc. ("CAVU"), which trades as OTC: CAVR.PK, announced today that
CAVU Resources, Inc., its subsidiaries and CAVU Energy Services,
Inc. have entered into an agreement to purchase an office building
and development property in downtown Tulsa, Oklahoma.
A private investor has funded the $550,000.00 acquisition of an approximate
9,000-square-foot building that offers both office and workshop
amenities. The building located on historic Route 66 is in a
proposed renovation zone in downtown Tulsa. Future development calls for new
streets, retail, housing and office space along with new sidewalks
and greenbelt areas. CAVU Resources, Inc. and CAVU Energy Services,
Inc. will each own 50% of the contracted acquisition. Both
companies plan to locate their headquarters in the building after
renovation.
The facility currently has a fiber optics pipe and multiple
communications hubs in the building. The planned expansion
into oil and gas marketing, oil field securities systems with
internet connectivity will easily be accommodated by the
communication lines available. The companies are developing a
design plan and multiple commercial uses for the property.
Having a central location for CAVU Resources, Inc., its
subsidiaries and the proposed spin out CAVU Energy Services, Inc.
will allow a consolidation of accounting, technology and corporate
management. Each company will have its own separate location
all under one roof.
"This acquisition and other targeted purchases will continue to
grow CAVU asset base and revenue stream for future distribution.
This recent acquisition gives CAVU Resources, Inc., its
subsidiaries and the proposed spinoff of CAVU Energy Services, Inc.
a home to consolidate operations and manage the growing assets.
Plans and future concepts for the facility will be unveiled
at the shareholders meeting on September 16," 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 new operating subsidiary, CAVU Energy Services, Inc., a
licensed Oil and Gas Operating Company, manages the company's
properties in Oklahoma and plans
to operate targeted leases in Kansas, Colorado, Montana and Texas. The company will 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,
Geo-Thermal and Wind, 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.
CAVR.PK
5147 South Harvard Ave,
Suite 138
Tulsa, OK 74135
Desai V. Robinson, Director of
Public Relations
Email: info@cavu-resources.com
Website: www.cavu-resources.com
Tel: 504-722-7402
Fax: 918-782-0776
SOURCE CAVU Resources, Inc.