Cantex Completes Processing of 2D Swath Lines on Big Canyon Project
November 16 2006 - 6:01PM
Business Wire
Cantex Energy Corp. (Pink Sheets:CTXE) announced today that the
Company has successfully completed seismic processing on all three
of the 2D Swath lines on its Big Canyon Project, located in its Val
Verde Basin, Terrell County, Texas leasehold. The lines will
determine where a structural closure may occur on the leasehold.
The processed migrated data is currently being shipped to the
Company�s geophysicist for interpretation of the seismic shoot.
Trace Maurin, President of Cantex Energy Corp., stated, �The
completion of the seismic processing was delayed due to the
abundance of work currently ongoing in the oil and gas industry.
Even though service delays in the industry are commonplace at
present, we appreciate our shareholders� patience and
understanding. We will be consulting with our geophysicist as he
reviews the seismic data and will make every effort to expedite the
delineation of the results of the seismic Swath lines. We remain
focused on our current and future prospects, aspiring to take
advantage of every opportunity such that we can position Cantex as
a major player in the oil and gas industry.� Cantex Energy further
announced today that the second of three wells located in the
Barnett Shale, Johnson County, Texas, is in the final stages of
completion. This well is the Robertson #1H and is operated by Star
of Texas Energy. Cantex shares a 2% working interest in the
project. Additionally, the Company continues to explore the
opportunities for the West Ant Hills Prospect in Niobrara County,
Wyoming. Cantex will be receiving bids for the 3D shoot, which
spans approximately 1,200 acres, to identify this leasehold�s
potential for exploitation and development. Please visit Cantex
Energy�s website, www.cantexenergy.com, the week of November 20th
and go to the �Investor Relations� tab for the Company�s most
current financials. More information regarding the Company�s
progress will be released 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. Cantex Energy Corp. (Pink Sheets:CTXE)
announced today that the Company has successfully completed seismic
processing on all three of the 2D Swath lines on its Big Canyon
Project, located in its Val Verde Basin, Terrell County, Texas
leasehold. The lines will determine where a structural closure may
occur on the leasehold. The processed migrated data is currently
being shipped to the Company's geophysicist for interpretation of
the seismic shoot. Trace Maurin, President of Cantex Energy Corp.,
stated, "The completion of the seismic processing was delayed due
to the abundance of work currently ongoing in the oil and gas
industry. Even though service delays in the industry are
commonplace at present, we appreciate our shareholders' patience
and understanding. We will be consulting with our geophysicist as
he reviews the seismic data and will make every effort to expedite
the delineation of the results of the seismic Swath lines. We
remain focused on our current and future prospects, aspiring to
take advantage of every opportunity such that we can position
Cantex as a major player in the oil and gas industry." Cantex
Energy further announced today that the second of three wells
located in the Barnett Shale, Johnson County, Texas, is in the
final stages of completion. This well is the Robertson #1H and is
operated by Star of Texas Energy. Cantex shares a 2% working
interest in the project. Additionally, the Company continues to
explore the opportunities for the West Ant Hills Prospect in
Niobrara County, Wyoming. Cantex will be receiving bids for the 3D
shoot, which spans approximately 1,200 acres, to identify this
leasehold's potential for exploitation and development. Please
visit Cantex Energy's website, www.cantexenergy.com, the week of
November 20th and go to the "Investor Relations" tab for the
Company's most current financials. More information regarding the
Company's progress will be released 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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