Cantex Energy Provides Update

  
    
  
  
    
      Cantex Energy Corp. (Pink Sheets: CTXE) announced today, in an 
      effort to update its valued shareholders and the investment community, 
      the Company has extended its time frame regarding the negotiations of a 
      Joint Operating Agreement and Area of Mutual Interest Agreement (with 
      regard to its press release dated September 2, 2008) to on or before 
      November 19, 2008. The Company believes this extension will provide 
      ample time to complete the signing of these two important documents.
    
    
      Specific parameters regarding the Mutual Interest Agreement and Joint 
      Operating Agreement will be forthcoming when negotiations are complete.
    
    
      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.