Cantex Provides Geophysical Update on 2D Lines of Big Canyon Project
January 17 2007 - 4:05PM
Business Wire
Cantex Energy Corp. (Pink Sheets: CTXE) announced today that the
Company has completed preliminary discussions with its
geophysicist, geologist and technical team regarding the structure
of all three 2D Swath lines on Cantex�s Big Canyon Project, located
in the Company�s Val Verde Basin, Terrell County, Texas, leasehold.
The geophysicist�s interpretation of the seismic shoot appears to
indicate a deep structure on two of the three lines and reveals a
shallow structure on the one remaining line. This is most likely
due to the orientation of the lines and is common in this area.
Cantex�s management will be meeting this week with an aggregate of
advisors to discuss the Company�s most feasible and optimal
drilling options. Management plans to target the most opportune
structure from an economic and risk/reward basis. Cantex Energy
continues to evaluate seismic bids and discuss project
opportunities regarding the Company�s West Ant Hills Prospect in
Niobrara County, Wyoming. Further updates on the Big Canyon Project
and West Ant Hills Prospect will be forthcoming 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. 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:
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 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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