TULSA, Okla., Sept. 16, 2011 /PRNewswire/ -- CAVU Resources, Inc. ("CAVU"), which trades as OTC: CAVR.PK, announced today that ESP Resources, Inc. (OTC Bulletin Board: ESPI) ("ESP Resources"), a manufacturer, blender, distributor, and marketer of specialty chemicals and analytical services to the oil and gas industry, completed the technology equipment updates and has begin supplying chemicals and field services on four CAVU's wells including its saltwater disposal system located at the Chisholm Lease in Garvin County, 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 operating and 5 additional oil wells to be reworked on the Chisholm Lease Project that will be treated by ESP Resources.
"Senior field technicians designed advanced chemical treatment equipment utilizing the field samples and evaluating all of the wells in the CAVU operating area. The new system is state of the art and has numerous environmental safety features built in. With online monitoring and overflow containment systems, the stimulus chemical program designed for CAVU should result in substantial increases in well productivity and reduced maintenance from CAVU's 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 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. We anticipate the same results with the CAVU wells," Mr. Dugas stated further.
"With the installation of a new disposal well pump systems and ESP Resources technology, typical historical performance shows increased productivity from natural gas wells by 20 to 50% and oil wells such as ours by 20 to 200%. We are very excited about the prospects this collaboration gives us on future re-entry processes for wells on our other leases. ESP Resources level of chemical expertise and service reduces our risks and should maximize our production as well as returns on our investments," stated William C. Robinson, CEO of CAVU.
About ESP Resources, Inc.
ESP Resources, Inc. is a publicly-traded petrochemical company (OTC Bulletin Board: ESPI.OB) headquartered in Scott, LA. Through its wholly owned subsidiary, ESP Petrochemicals, Inc., the Company manufactures, blends, distributes and markets specialty chemicals and analytical services to the oil and gas industry. ESP Resources supplies retail and wholesale specialty chemicals for a variety of oil field applications including production, drilling, waste remediation, cleaning, and waste water treatment. From its blending and distribution facilities, the Company distributes its product line throughout the oil and gas producing regions of Louisiana, Texas, Mississippi, Alabama, Arkansas and Oklahoma, both onshore and offshore. The wholesale division of the Company supplies specialty chemicals to several retailers operating in West Africa. The Company's senior management has over 100 years of combined operating experience in the petrochemical industry. More information is available on the Company's Website at www.espchem.com.
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 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.
Specialty Situations Investor Relations
CAVU Resources, Inc.
5147 South Harvard Ave,
Tulsa, OK 74135
Desai V. Robinson, Chief Information Officer
SOURCE CAVU Resources, Inc.