$CAVR good news out.!! Read here.!
IMO ONLY.
http://finance.yahoo.com/news/CAVU-Resources-Inc-Engages-iw-2513860703.html?x=0&.v=1
CAVU Resources, Inc. Engages ESP Resources, Inc. to Increase Well Production on Three Stimulus Projects
Press Release Source: CAVU Resources Inc. On Wednesday April 13, 2011, 6:30 am EDT
TULSA, OK--(Marketwire - 04/13/11) - CAVU Resources, Inc. ("CAVU"), which trades as (Pinksheets:CAVR - News), announced today the engagement of ESP Resources, Inc. (OTC.BB:ESPI - News) ("ESP Resources"), a manufacturer, blender, distributor, and marketer of specialty chemicals and analytical services to the oil and gas industry, to begin supplying chemicals and field services for three of CAVU's major projects located in Garvin and Nowata Counties in Oklahoma.
Located in an area that stretches from Paul's Valley to the Texas/Oklahoma state line and covers approximately 290 square miles, the Chisholm Lease Project contains over 90 wells. CAVU currently owns 190 acres with 9 existing wells and plans to eventually work its way through the area consisting of more than 3,000 acres and 90 additional shut-in wells. CAVU's plans are to acquire, rework and systematically put back into production the targeted wells. CAVU currently has 4 producing and 5 oil wells being reworked on the Chisholm Lease Project that will be treated by ESP Resources.
Located in Nowata, Oklahoma, the Hogshooter Lease covers 900 acres and currently has 60 wells that CAVU plans to re-equip for production and which will require ESP Resources' chemical supplies and services.
Also located in Nowata, OK, is a 3,100 acre project containing 90 natural gas wells that will be reworked and treated by ESP Resources.
"Several of our senior field technicians are currently collecting field samples and evaluating all of the wells in the CAVU operating area. We will conduct a thorough evaluation of each well and will provide CAVU with a stimulus chemical program that should result in substantial increases in well productivity from the CAVU oil and gas wells," stated David Dugas, CEO of ESP Resources, Inc. "The stimulus program will include our block buster oil well cleanup system and our foamer technology to improve well productivity in the CAVU gas wells. We have utilized our chemical stimulation technology on numerous oil and gas wells with similar producing profiles as the CAVU wells and have achieved substantial increases in the oil and gas production from the stimulated wells. We anticipate the same results with the CAVU wells," Mr. Dugas stated further.
"Based on ESP Resources' historical performance of increasing productivity from natural gas wells by 20 to 50%, oil wells such as ours by 20 to 200% and their continued success with their chemical supply programs, we are anxious to begin work with their team. I am excited about the prospects of this collaboration given that the re-entry process for these wells necessitates a level of chemical expertise and service that will maximize our production and return on investment," stated William C. Robinson, CEO of CAVU.
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