CanTex Energy Corporation Announces Settlement of Complaint Against World Stock Exchange LLC and Bret Reiss

CanTex Energy Corporation (Pink Sheets: CTXE) announced today that it has settled litigation with World Stock Exchange LLC and Bret Reiss in the United States District Court for the Western District Of Texas (San Antonio Division), resulting in the release of all potential claims by WSE and Reiss and the return of 5,000,000 common shares to CanTex’s Treasury.

On March 23, 2009, CanTex Energy Corporation filed a lawsuit against World Stock Exchange LLC (“WSE”) and Bret B. Reiss, an individual (“Reiss” and together with WSE, the “Defendants”) in the United States District Court for the Western District of Texas (the “Court”) captioned CanTex Energy Corp. v. World Stock Exchange LLC and Brett Reiss, Civ. No. SA-09-CA-0218-XR, alleging, among other items, breach of contract, fraud and fraudulent inducement. The litigation arose, in part, out of CanTex’s issuance of shares of CanTex common stock to WSE, Reiss and/or their affiliates and CanTex’s payment of monies to WSE and Mr. Reiss pursuant to the terms of three separate agreements. On April 23, 2009, WSE and Mr. Reiss moved to dismiss the litigation on jurisdiction grounds and venue grounds related to clauses in the agreement. On August 4, 2009, the Court denied WSE and Reiss’ Motion to Dismiss and ordered the parties to continue in Texas.

Shortly thereafter, on December 9, 2009, CanTex, WSE and Reiss entered into a Settlement Agreement in order to settle the litigation and mutually release each other of any and all claims asserted or that could be asserted by the parties. Under the terms of the Settlement Agreement, WSE and Reiss represented that WSE and Reiss owned an aggregate of 5,000,000 shares of CanTex common stock and agreed to return these shares to CanTex in consideration for the release from CanTex. Cantex agreed to dismiss the litigation in consideration for the return of the shares and release of all potential claims by WSE and Reiss.

About Cantex Energy

CanTex Energy Corp. is an independent, managed risk, oil and gas exploration, development, and production company headquartered in San Antonio, Texas, focused on oil and gas properties. Please visit the Company’s website at www.CanTexEnergy.com.

CanTex Energy Corp. is a Non-Reporting Company, quoted on the Pink Sheets, having filed a Form 211 pursuant to Rule 15c2-11 under the Exchange Act, with the NASD Compliance Unit. For real-time quotes, purchasing Cantex Energy stock and to learn how to protect yourself and additional stock information, please see www.pinksheets.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, INCLUDING THE POTENTIAL THAT NO COMMERCIAL QUANTITIES OF OIL OR GAS 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.