CAVU Resources, Inc. ("CAVU") (PINKSHEETS: CAVR) today announced its subsidiary CAVU Energy Services, LLC ("CAVU") has entered into an agreement with Energy Revenue America, LLC, a Texas limited liability company, ("Energy") to rework and or drill up to 100 wells in Nowata, Oklahoma valued at approximately $5,000,000. The agreement calls for CAVU to begin reworking the wells on the Envirotek lease Energy is acquiring. With plans to begin in the next few weeks, CAVU has been moving its equipment to a staging area in Nowata, Oklahoma. Energy plans to have CAVU install new equipment, utilizing well stimulation, reentry, complete environmental audits and an action plan utilizing historical data from engineers targeting new drilling sites. The Envirotek property Energy is acquiring has 19 zones with 12 zones targeted that could potentially produce both gas and oil. The wells in the area have historically ranged from 600 to 1200 feet. These shallow wells will allow for a rapid development program. The existing transmission lines owned by Envirotek will be utilized along with planned expansion into undeveloped leases.
"This agreement utilizes idle operating assets of CAVU; this along with the sale of Envirotek should provide cash flow and profits for both 2011 and 2012," said William C. Robinson, CAVU's President.
BRZL (Brazos Int'l Exploration) .0121 The stock is still finalizing Renfro Oil co. acquisition expected March 31 , with the world markets facing pressure , this can be a great opportunity for this stock:
3/10/11 BRZL announced company has executed a Definitive Purchase and Sale Agreement to purchase Renfro Energy, LLC, a Dallas based independent oil company with significant oil and gas assets in Cameron Parish, Louisiana.
Closing is scheduled to occur on or before March 31, 2011, and shortly thereafter, an aggressive production enhancement and developmental drilling program will be initiated. With this acquisition, BRZL will acquire an oil producing property with potential development and exploration oil reserves exceeding one million barrels based on subsurface well control and Three Dimensional Seismic data.
1.
100m USA dollar) based on today's oil price, that's huge!!!
2. This acquisition is done deal and expecting close before 3/31/2011 which mean is only few trading days left!!!
3. The total reserves on these projects comes to 1420 million barrels. These are proven reserves too.
--
Objectives and Mission
Brazos International Exploration, Inc. (“BR” or “Company”) is a New York based oil and gas exploitation, development, and exploration company. With its anticipated acquisition of a producing oil & gas property owned by Renfro Energy, LLC (“RE”), it will acquire astrong asset base as a foundation to build and grow.
With RE’s Louisiana asset base and capital requested through this business plan, BR expects to become an industry leader in finding and replacement cost for oil and gas reserves while providing a safe work environment, maintaining its social conscience to the community and adhering to state, federal, and international regulations.
Our financial objective is to have a market capitalization over $250 Million within 12
months and through a systematically and carefully planned growth program, reach a goal of $500 Million or more within three years. Over that period, we would like to see gross margins improving while keeping selling, general and administrative costs to a minimum and maintaining a strong balance sheet. Our initial goal of $250 Million can be accomplished by developing our existing asset base while our three year plan will require a selective acquisition program.
We have always believed that in order to succeed and provide abnormal returns to our shareholders, we must differentiate ourselves from our competition. Characteristics that distinguish us include:
a. Company resources and capital focused primarily in areas of expertise including the Texas and Louisiana Gulf Coast.
b. A management team with superior technical abilities as well as extensive experience in energy capital markets.
c. A management team with an excellent reputation in the industry and extensive contacts with senior management of independent and major oil companies allowing an ability to secure private negotiated acquisitions.
d. Operate under a very streamlined management structure which provides the ability to make decisions very quickly to secure distressed opportunities.
e. Maintain a low overhead in order to weather the down cycles that inevitably occurs in the oil and gas industry.
--
FORBES: James R. Renfro
http://people.forbes.com/profile/james-r-renfro/147499
Director
Brazos International Exploration, Inc.
Pompano Beach , FL
Sector: FINANCIAL / Diversified Investments
On August 10, 2010 Mr. James R. Renfro was appointed to the Board of Directors of the Company in the capacity of Director. UNIVERSITY OF CHICAGO MBA-Finance Specialization, Marketing Concentration. Dean's List. 3.8/4.0 GPA in Finance. Member: Finance, Investments, Oil & Energy Groups. UNIVERSITY OF KENTUCKY, Lexington, Kentucky BS-Chemical Engineering. President ? Chemical Engr. Honor Society. Dean's List. Received award as top chemical engineering student. Elected dormitory president over 400 students. Participated in intramural basketball and tennis. RENFRO ENERGY, LLC, Dallas, TX President and Founder. Holding company for oil and gas assets. All operations conducted by affiliated company, Petroleum Capital, L.C. OMNI OIL & GAS, INC., Dallas, TX Chief Executive Officer. Directed all activities of a small public oil and gas company based in Dallas with properties primarily in Texas, Oklahoma and Louisiana. PETROLEUM CAPITAL, L.C., Dallas, TX President and Founder. Oil and gas operating company with up to 150 company owned wells located in Texas, Louisiana, and Oklahoma. Company closed 12 acquisitions in last fifteen years with institutional lenders such as Associated Energy Managers, Tenneco Ventures, Chase Bank, Capwest Resources, Inc., Sterling Bank, and Sovereign Bank.
No comments:
Post a Comment