Cantex Receives Completed Analogs
14 June 2007 - 2:44AM
Business Wire
Cantex Energy Corp. (Pink Sheets: CTXE) announced today that the
Company has received an extensive review and analogs from its chief
geophysicist regarding the Ouachita Thrust facies of its Big Canyon
Project located in the Val Verde Basin, Terrell County, Texas
leasehold where Cantex currently controls 12,000 acres. The
information provided shows that within approximately 43 miles of
the Big Canyon Ranch prospect there are three regions of particular
interest. The Pinon Field, discovered in 1998, is a Thrusted
Dimple/Caballos. Since 1998, 112 wells have been drilled in the
Pinon field to a depth of approximately 8,500 feet with total
production of 90bcf of gas produced to date. The Thistle Field,
another Thrusted Caballos, was discovered in 1984. Fifteen wells
have been completed to a depth of 5,000 feet with approximately
4.6bcf of gas produced. In 1979, McKay Creek, a subsequent Thrusted
Caballos, was discovered and 10 wells were drilled to a depth of
7,000 feet, producing approximately 13.2bcf of gas. Cantex�s
geophysicist recently completed the Pinon Field Analog Study and
has reported the findings look promising. Cumulative and average
production by formations in the Pinon Field is as follows: In the
Dimple, there have been 95 completions drilled to a depth of 5,000
feet with a cumulative production of 33,243,639 and an average
production per well of 349,933mcf. In the Caballos, there have been
10 wells completed to a depth of 7,000 feet with a cumulative
production of 54,893,080 and an average production per well of
5,489,308mcf. In the Tesnus, there have also been 10 wells
completed to a depth of 8,500 feet with a cumulative production of
1,025,938 and an average production per well of 102,594mcf. As
stated in Cantex�s earlier releases, the Company has targeted four
drillable structures that it believes offer the most promising
results for exploration activities. With the recently received
analogs, the Company has a more thorough understanding of the
structures that lie within its 12,000-acre leasehold. Historic
analysis and results from the region lend credence to Cantex�s
future drilling prospects. The Company is currently examining the
most cost-effective means by which to execute on its business plan
and proceed with the drilling of its initial four targeted
exploration opportunities. Spacing configurations encompassing the
12,000-acre leasehold allow for approximately 160 wells to be
drilled on the Big Canyon Project. Additional information regarding
the Company�s projects will be forthcoming 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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