CAVU Resources, Inc. Announces Acquisition of EnviroTek Fuel Systems, Inc.
TULSA, OK--(Marketwire - July 30, 2009) - CAVU Resources, Inc. ("CAVU"), which trades as
(PINKSHEETS: CAVR), announced today that the Company has acquired EnviroTek
Fuel Systems, Inc. (EnviroTek) in a stock purchase agreement. EnviroTek
owns a 3,140 acre project in Nowata County, Oklahoma, which is about an
hour north of Tulsa, OK. Spread across three townships (or 13 miles), the
project contains about 12 producing natural gas wells, 6 shut-in wells
awaiting rework or completion in another zone, and about 40 to 50 proven
and undeveloped (PUD) locations for new wells. As part of the acquisition,
CAVU also has purchased about 35 miles of pipeline that connects the wells
and acreage position in this project; the total acquisition is valued over
$470,000.
July 30, 2009 | Filed Under
Mergers and Acquisitions Comments