Cantex Energy Shareholder Update.

SAN ANTONIO -- Cantex Energy Corp. (Pink Sheets:CTXE) announced today that the seismic crews have been mobilized and the 40 miles of seismic work has commenced on the Big Canyon Prospect targeting the eastern Val Verde Basin. The crew started operations on Friday June 2 2006. They have been moving over the terrain better than expected and the first of three lines should be completed by weeks end. Data then will be sent off for processing taking 3 to 4 weeks. The eastern Val Verde Basin is viewed by industry experts as perhaps one of the Lower 48's most under-explored, proven gas provinces.

The Company's interpretation of historical data indicates the eastern Val Verde Basin has as many as four or more pay zones that remain vastly under-explored:

--Ouachita Overthrust: The Company's geophysical expert, Providence Technologies, Inc., recognize and document the trend fairway as analogous to the Canadian Foothills and Arkoma Spiro/Wapanucka trends, both exhibiting prolific Cratonic Margin plays as is the case in the Val Verde Basin. What makes this opportunity so significant is the lack of high quality seismic imaging/data, until the recent emergence of new solutions, combined with the presence of multiple, stacked, thrusted reservoirs (at least three), the high price for natural gas, industry's desperate need for new reserves in the Lower 48, open, low-cost leases and well-developed natural gas transportation infrastructure.

--Lower Paleozoics: Multiple stacked pay zones, at least three occur in the in-situ subthrust and foreland Strawn, Devonian and Ellenburger carbonates. The "Productive Ellenburger" in nearby JM Field, is a major proven natural gas reservoir containing some 1 TCF (Trillion Cubic Feet) of proven reserves. The "Untested Ellenburger" structures in Big Canyon remain untested, with significant fault displacements and probable, substantial, tectonic fracture enhancement of the reservoirs. Foreland producing analogs include JM Field (1 TCF), Brown Bassett (2 TCF), Puckett/Gray Ranch (3 TCF) and Gomez Field (6 TCF). Numerous deep, untested structures have been identified in the western portion of the basin, based upon over 700 miles of 2D swath reconnaissance. There are likely an equal number of untested structural opportunities and perhaps additional opportunities in the eastern basin, where no modern data has been acquired by industry, which is the Company's present objective.

--Canyon Sands: The "Productive Canyon Sands" are in Sonora and Ozona Fields of the northern Val Verde Basin, both with proven reserves in excess of 1 TCF and well-developed infrastructure. The pay zones (at least two) are of different ages, Permian and Pennsylvanian, although commonly referred to as Canyon Sands. The producing analog for these sands is Pakenham Field, Terrell County, where Providence successfully acquired high-resolution 3D seismic for multiple clients through the 1990's. The combined Pakenham and new thrusted Strawn reserves, based upon Tom Brown/Conoco's discovery in 1994, on the 2D swath data under continuing development on the basis of modern 3D imaging, is 400 BCF new gas.

--Thrusted Strawn: This is a recently discovered new play trend. The discovery well, the Tom Brown ACU 1-49, Terrell County, came on flowing 13 million MCF per day plus 300 Barrels Condensate Per Day. Together with overlying Wolfcamp Sands, newly discovered reserves by Providence clients, using the same type of new data, exceed 400 BCF EUR.

Trace Maurin, President of Cantex Energy Corp., stated, "The Val Verde Basin offers a significant, under-explored natural gas resource opportunity for new and emerging players. The seismic data available currently becomes a distinct competitive advantage to evaluate what has not been seen before. There are at least a dozen active players in the basin now and an unknown number of additional players likely awaiting some incentive or opportunity to gain a competitive advantage, and we believe that our geophysical experts at Providence Technologies have the capability and expertise to provide us that advantage. Needless-to-say, we are anxiously looking forward to the ongoing seismic data reports over the next several weeks."

Other Updates:

In addition, the Company wishes to confirm that it has executed the final closing of a private placement as announced on April 19, 2006. The total monies raised has been reduced to $400,000 at $1.00 per share plus a warrant to acquire an additional share at $1.00 at anytime over the next 12 months. Also, the investor will receive a 1% gross overriding royalty (Big Canyon only) in the Company's future revenue (verses the 1.25% previously announced) for the premium paid on the financing of the Big Canyon 2D Swath.

About Cantex Energy

Cantex Energy Corp. is an independent, managed risk, oil and gas exploration, development, and production company headquartered in San Antonio, Texas. 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.

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 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: [phone], 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 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.