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CAVU Resources, Inc. Initiates Production on the Hogshooter 67 Well Lease in Washington County, Oklahoma
Cavu Resources (PN) (USOTC:CAVR)
Intraday Stock Chart
Today : Thursday 15 March 2012
CAVU Resources, Inc. Initiates Production on the Hogshooter 67 Well Lease in Washington County, Oklahoma
PR Newswire
TULSA, Okla., March 15, 2012
TULSA, Okla., March 15, 2012 /PRNewswire/ -- CAVU Resources, Inc. ("CAVU"), which trades on the OTC:CAVR.PK, has initiated a workover program on the Hogshooter lease in Washington County, Oklahoma. CAVU had originally planned to introduce a new technology on the project located in Washington County, near the town of Nowata, Oklahoma. Seasoned operators recommended utilizing the original production plan and infrastructure developed by the previous investors. To correct previously reported numbers at the location that is located in Washington County not Nowata, but near the town of Nowata, Oklahoma, CAVU physically inspected all of the assets. The recent inspection of the wells verified the actual count on the producing wells to be 50 with 15 water injections wells, 1 horizontal high rate water injection well and 1 water supply well.
The company is not going to share the project as previously reported. The Hogshooter was designed to be a water injection or water flood project utilizing the sizable reserves and the historically dependable long term production from the Bartlesville Sand and Wayside Sand pay zones. The regional project had historically produced over 2,000,000 barrels of oil. CAVU has 20 partially equipped production wells and has reworked 3 wells over the last 60 days with average production at 1.5 barrels of oil and 30 barrels of saltwater. The saltwater is being re-injected in the formation to continue the designed enhancements that injection of water creates.
"CAVU decided to utilize conventional and proven recovery methods on this undervalued property, utilizing the originally engineered and partially equipped infrastructure. Initial results are proving that our original minimum production potential to be over 100 barrels of oil a day. We plan to continue to equip the well out of company cash flows. The targeted completion of the rework project is estimated to be approximately 6 to 9 months. Recently CAVU has seen a historical spike in volume and price supporting the belief that projects like the Hogshooter and the recent LOI with Sun Packing should continue to grow the company's income and value of CAVU's stock," said William C. Robinson, CAVU's President.
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 operating subsidiary, CAVU Energy Services, Inc., 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, solar 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 RelationsTel: 973-507-6199
CAVU Resources, Inc.Desai V. Robinson, Director of Public Relations5147 South Harvard Ave, STE 138Tulsa, OK 74135Email: info@cavu-resources.comWebsite: www.cavu-resources.comTel: 504-722-7402
SOURCE CAVU Resources, Inc.
ICTY website under construction HMMMMMMM seems like news is around the corner
i didnt put it here lol but i predicted it... so i still think 1 cent or more IMO
Hey Newyorker, You put ICTY to 0.0020. So its done or what ?
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DiamondFire ... Dork ... Liv is huge now...
also playing grpr currently on a pull back at ,0016 should rebound again this next week drilling starts march 15th...
picked up some UNGS @.0008 last week, could catch an easy double or more this next week...
...thanks its on my radar now and so is this lucrative AND FUN weeeeeeeeeeeeeeee! Board! lol...!
Thanks Diamond... we alerted ICTY at .0003.... we have a a loyal following.... did well with mdmn jbii and augt as well... after ICTY i think EFGU should be a good play
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ICTY Good luck with your ICTY journey.
just getting started IMO
ICTY Good call...looks like anyone with that entry has a six bagger going with more to come so it seems. Momentum on chart does not look like it is finished.
pennies coming.... my 0003 call is looking pretty sweet here
ICTY Share reduction! That would be sweet on top of this non diluted run and gold merger.
Yes no pump yet... just movin up on steady volume and very little selling.... chart shows zero dilution.... just a steady move up...hearing we have a share reduction on the way as well as lots of press about the gold merger... goin to a penny easily
also just entered ungs yesterday should be a good multibagger looking for at least a 300% move
any you all in grpr? good point to enter today
ICTY 002's are acomin!!!! weeeeeeeeeee
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agreed. ICTY sellers on the offer seem more like 'fake' in the sense they aren't coming down further, just randomly here and there some whacks. Accumulation mode.
ICTY goin to a penny sooner than later IMO
with GDSM fading.... i expect to see peaked interest in ICTY here soon!!! News is due out and should be sweet
nice solid day for ICTY... continuing to set up like GDSM should make us alot of money!
agreed, ICTY pressure building for solid run imo. U catch VPER? Going to eclipse that imo
icty headed north towards a penny sooner than later
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That deserves a WEEEEEEEEEEEE!
all the dips have been bought out and they've been shallower each time, ICTY looks ready for a major move. GDSM just unreal :)
GM ICTY had a great day yesterday.... should continue to push new highs today!!!! Chart primed for an attempt to break 002.... once it breaks that no clue how high its goin!!! Expect a GDSM style move there... another gold merger that just went from a super sub to over a penny!!
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ICTY Was hitting .0014 yesterday.
Hey Nitty..... ICTY still goinnnnn!!!!! .0011x.0012 looks good to break out here soon!
LOL Ok Nitwit, I will be sure to call you by your name
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