Cantex Energy Corp. Reports The Startup of the Seismic Surveying on the Big Canyon Ranch Prospect and Updates West Ant Hills Pr
March 06 2006 - 8:00AM
Business Wire
Cantex Energy Corp. (Pink Sheets-CTXE) announced today that the
seismic surveying has begun on the West Texas Big Canyon Ranch
Prospect. Trace Maurin, President of Cantex Energy, commented, "We
are very pleased to report that the surveying has begun on the Big
Canyon Ranch 2D in the Val Verde Basin. GPS surveying is under way
for the positioning of the survey points for position and
elevation. This is the first phase of our 2D acquisition." Mr.
Maurin goes on to say, "We are expecting to have very good results
using the state of the art acquisition technology. Once the GPS
surveying is complete the next phase will be the actual data
acquisition of the seismic survey, we anticipate this to take place
mid to late April pending crew scheduling. Since the signing of the
deal we have had other operators contact us for a possible farm-in
on the prospect. An update on the West Ant HiIls project is that we
are currently evaluating our acreage at this point. The first of 8
wells proved to be low and wet to our target formation. Even though
this is a set back we may still consider running further test on
the remaining 1200 acres with 3D seismic." Cantex Energy Corp. is
an independent, managed risk, oil and gas exploration, development,
and production company headquartered in San Antonio, Texas. The
Company's current focus is the optimal exploitation and development
of approximately 24,900 acres known as the Big Canyon Ranch
Prospect located in Terrell County Texas. Investors are encouraged
to visit www.emerginggrowthstocks.com for a recent research profile
on CTXE. 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. See
www.pinksheet.com for real time quotes, how to trade pink sheet
stocks, how to protect yourself and additional stock information.
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 Mark Porrello, 310-491-9641 or visit their website
at www.cantexenergy.com (As well as recent digital photos taken
on-site of the Project during the last week of February 2006.)
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.
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