CAVU Resources, Inc. (CAVR), through its subsidiaries, engages in the acquisition, exploration, and development of natural resource properties with a focus on the production of oil and natural gas.
CAVU 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.
Mr. Silver has held several senior management and CEO positions in the services, manufacturing and financial services sectors & will focus on the general management, administrative management and strategic corporate financial management functions 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. These Advisory Board members will assist CAVU executives on the strategic matters related to growing CAVU and achieving its corporate goals.
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, CAVU’s CEO, 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. 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.