Cantex Energy Corp Receives Notice of Intent to Drill Test Well on Big Canyon Prospect

Cantex Energy Corp. (Pink Sheets: CTXE) announced today that, in conjunction with Big Canyon Energy, LLC, it has received formal notice from its operator and Working Interest partner Slawson Exploration Company, Inc., of its intent to drill a test well on the Big Canyon Prospect area (“Prospect area”) in the West Texas Overthrust, Val Verde Basin, Terrell County, Texas. Cantex has a 14.5% working interest, with a 75% net revenue interest in the Prospect Area consisting of approximately 13,566 net mineral acres.

Slawson acts as the driller, explorer and operator of the Prospect Area and has now identified a target location for the first test well to be drilled to a total depth of approximately 10,000 feet. Slawson is expected to provide all the Working Interest partners, including Cantex with a formal Authorization for Expenditure (AFE) on or about the first of March 2010. Cantex anticipates that the AFE for the well will be approximately 1.9 million with completion being an additional 1 million. A drilling rig and permitting is scheduled for 2nd quarter 2010.

About Slawson Exploration

Slawson Exploration Company, Inc. is a privately held oil and gas exploration company founded by Donald C. Slawson. The Wichita-based organization began oil and natural gas exploration in Kansas in 1957. Since its inception, Slawson has drilled over 3500 wells in 10 states. Regional exploration offices are located in Denver (Northern Rockies / California), Oklahoma City (Anadarko), Houston (Gulf Coast / S Texas) and Wichita (W Kansas). As an aggressive exploration firm, Slawson Exploration Company, Inc. focuses on risk-reduction technological advantages in time-tested, prolific geologic provinces, delivering greater returns for investors.

About Cantex Energy

Cantex Energy Corp. is an independent, managed risk, oil and gas exploration, development, and production company headquartered in San Antonio, Texas.

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.pinksheets.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.

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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