Cantex Energy Enters Exploration & Development Agreement in West Texas Overthrust

  
    
  
  
    
      Cantex Energy Corp. (Pink Sheets: CTXE), is pleased to announce 
      today it, in partnership with Big Canyon Energy, has entered into an 
      Exploration & Development Agreement with Slawson Exploration, Inc., 
      based in Wichita, Kansas to operate and own working interests in the Big 
      Canyon Prospect area (“Prospect area”) in the West Texas Overthrust, Val 
      Verde Basin, Terrell County, Texas.
    
    
      Per the Agreement, Slawson Exploration will earn a 45% working interest 
      in operating the project, which covers an initial 17,151 acres of 
      prospective natural gas lease held by Big Canyon Energy and 7,680 acres 
      of lease option.
    
    
      Beyond the lease and option coverage, the total Area Of Mutual Interest 
      (AMI) between the parties includes approximately 89,929 acres. Cantex 
      Energy has the right to participate throughout the AMI based upon 
      Cantex’s payment of future pro rata drilling and any additional 
      lease/option costs.
    
    
      Big Canyon Energy et al retains a 39.375% working interest with Cantex 
      Energy holding the remaining 15.625% working interest. Provisions within 
      the Agreement include fully executed pipeline rights-of-way (13.5 miles) 
      for tie-ins to the natural gas collection, processing and distribution 
      network in the area.
    
    
      The parties are now reviewing the historical seismic and related data 
      for selection of the first two wildcat drill sites. The parties may 
      propose additional participation by other major and independent 
      operators within the trend.
    
    
      “We have been diligent in our process to align ourselves with the most 
      reputable party possible to assist us with fostering the components and 
      ingredients necessary to execute our business plans,” Trace Maurin, 
      President and CEO of Cantex Energy Corp. said. “Cantex Energy’s 
      engagement with Slawson Exploration will play an essential role in the 
      aggressive galvanization of our Big Canyon Prospect area, and we look 
      forward to benefiting from Slawson’s vast experience and depth of 
      management for which they have been so widely recognized.”
    
    
      About the West Texas (Ouachita) Thrust (WTO) and Big Canyon Prospect
    
    
      The prospect is located in Terrell County, TX, along the Ouachita 
      Overthrust, a geologic trend that extends from Texas east/northeast 
      through Oklahoma and Arkansas, where it is prolific. The West Texas 
      (Ouachita) Thrust has been in production since the 1970’s as a marginal 
      play, only recently becoming one of North America’s most prolific new 
      natural gas trends as a result of seismic imaging and drilling 
      technology improvements.
    
    
      Cantex Energy earned the right to participate in the Big Canyon Prospect 
      by funding and deploying a state-of-the-art seismic study of the 
      prospect area in 2004-2005. Seismic interpretation of the new data 
      suggests the presence of at least 5 large imbricate fault closures, 
      covering perhaps more than 10 square miles, highly similar to the 
      character of Pinon Field in Pecos County, TX, approximately 40 miles 
      northwest of and on-trend with Big Canyon Prospect. Sandridge Energy 
      Inc., (NYSE: SD) operates Pinon Field, and reports an estimated ultimate 
      recovery (EUR) within Pinon Field of over 5 trillion cubic feet (TCF) 
      natural gas.
    
    
      Big Canyon Prospect is further set-up by the presence of potentially 
      commercial quantities of natural gas as close as approximately 5 miles 
      from the leasehold, and within the AMI, a discovery well drilled in 2004 
      by Sandridge’s predecessor Riata Energy, which flowed almost 2 million 
      cubic feet per day on a 16/64 production choke. This “show” is believed 
      to have occurred within the objective thrusted Pinon Field-type Caballos 
      reservoirs.
    
    
      Pending working interest decisions and actions, the companies expects to 
      participate in two exploratory wells, testing the presence of 
      potentially significant reserves of natural gas on 2 of the 5 imbricate 
      closures within the Big Canyon Prospect next year, 2009.
    
    
      About Slawson Exploration, Inc.
    
    
      As an aggressive oil and natural gas exploration firm, Slawson 
      Exploration, Inc. focuses on risk-reduction technological advantages in 
      time-tested, prolific geologic provinces, delivering greater returns for 
      investors. For more information about Slawson Exploration, Inc., please 
      visit their website at www.slawsoncompanies.com.
    
    
      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, Gross Capital, Inc., Phone: [phone], or visit the 
      Company’s website at www.cantexenergy.com.
    
    
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