Cantex Completes Processing on First Line of Big Canyon Prospect; Provides Operational Update.SAN ANTONIO San Antonio (săn ăntō`nēō, əntōn`), city (1990 pop. 935,933), seat of Bexar co., S central Tex., at the source of the San Antonio River; inc. 1837. -- Cantex Energy Corp. (Pink Sheets:CTXE) reported today that the Company has successfully completed seismic processing on the first of three lines to determine where a structural closure may occur on its Big Canyon Prospect, located in its Val Verde Val Verde may mean:
According to the U.S. leasehold. The data is being delivered to Cantex Energy's geophysicist and geologist for evaluation and interpretation of the seismic shoot. Trace Maurin, President of Cantex Energy Corp., said, "The seismic data processed to date is encouraging, and upon evaluation, we will be able to determine what we believe to be the most optimal drilling locations on our Big Canyon Prospect. Since most of the preliminary parameters and geometric settings have already been established for the first line, we anticipate the residuals and velocities for the seismic data processing data processing or information processing, operations (e.g., handling, merging, sorting, and computing) performed upon data in accordance with strictly defined procedures, such as recording and summarizing the financial transactions of a of the following two lines to proceed more rapidly. Our posture is to make every effort to be thorough, comprehensive and conscientious regarding the economic prospects for our Big Canyon Prospect play." Cantex Energy further announced today that the Company is currently in negotiations for a 50% working interest in a saltwater disposal well located in the Fort Worth basin in Johnson County, Texas Johnson County is a county located in the U.S. state of Texas. In 2000, its population was 126,811. Its county seat is Cleburne6, and the county is part of the Dallas/Fort Worth Metroplex. . Due to the lack of disposal wells in the area, the Company believes a niche exists and expects a saltwater disposal well in this area will provide a good cash flow opportunity. The Company also reported that its 2% working interest in its Brawner Lease, Barnett Shale The Barnett Shale is a geological formation of economic significance. It consists of sedimentary rocks of Mississippian age in the U.S. State of Texas. The formation is estimated to stretch from the city of Dallas to west of the city of Fort Worth and south, covering 5,000 square , located in Johnson County, Texas, is still flowing at a rate of approximately 1mmcf/day on a 50/64" choke, with pressures of 530mcf to the sales line and 570mcf back down hole to clean up. In the next few weeks, the Company expects to spud its second of three wells in this leasehold. Additionally, Cantex announced today it has engaged the services of Malone & Bailey, PC, to prepare the Company's SEC audit report to facilitate the Company's transfer from the "Pink Sheets" exchange to the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. exchange. More information regarding the Company's progress will be released as developments warrant. About Cantex Energy Cantex Energy Corp. is an independent, managed risk, oil and gas exploration, development, and production company headquartered in San Antonio, Texas “San Antonio” redirects here. For other uses, see San Antonio (disambiguation). San Antonio is the second most populous city in Texas, the third most populous metropolitan area in Texas, and is the seventh most populous city in the United States. As of the 2006 U.S. . The Company's additional focus is the optimal exploitation and development of approximately 1,200 acres known as the West Ant Hills Prospect located in Niobrara County, Wyoming Niobrara County is a county located in the U.S. state of Wyoming As of 2000, the population is 2,407, making it the state's least populous county. Its county seat is Lusk6. History Niobrara County was organized in 1911. Geography According to the U.S. . Cantex Energy Corp. is a Non-Reporting Company, quoted on the Pink Sheets, having filed a Form 211 pursuant to Rule 15c211 under the Exchange Act, with the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). Compliance Unit. For real-time quotes, how to trade pink sheet stocks, how to protect yourself and additional stock information, please see www.pinksheet.com. Purchasing shares in Cantex Energy Corp. involves a speculative investment with substantial risks, and although the Company intends to use its best efforts to enhance the value of the shares, there is no assurance that the Company's operations will be successful. For more information about Cantex Energy Corp. (Pink Sheets:CTXE) please contact Barry Gross, Phone: 361-949-4999, or visit the Company's website at www.cantexenergy.com. Except for historical information contained herein, the statements in this press release are forward-looking statements that are made pursuant to the Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions in the Private Securities Legislation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause Cantex Energy's actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things: the potential that no commercial quantities of oil are found or recoverable, the price of oil and gas, geological problems that prevent us from reaching drilling targets and specific risks such as the company's ability to raise financing and risks inherent in Cantex Energy's operations. These and other risks are described in Cantex Energy's Form 15c211 and other filings with the NASD and Securities and Exchange Commission. |
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