CANTEX ENERGY CORP. RETAINS GROSS CAPITAL, INC. TO MANAGE INVESTOR RELATIONS OUTREACH INITIATIVES
San Antonio, TX--May 30, 2006 -- Cantex Energy Corp. (Pink Sheets: CTXE) Announced today that it has retained Gross Capital, Inc., a Texas based Investor Relations Firm, to solely manage the Company's Investor Relations initiatives. Gross Capital, Inc. has over 25 years of experience representing companies primarily in the oil and gas sector, as well as a host of companies in a variety of other industries, whose stocks are undervalued due to lack of awareness and exposure on Wall Street.
Trace Maurin, President of Cantex Energy Corp., stated, "As our company is nearing an exciting phase in its development with the commencement of a major seismic operation in the next few weeks, we will be aggressive in our efforts to keep our investors and the investment community informed of our business plans and developments as they unfold. Our alignment with Gross Capital is a key component of our effort to deliver our corporate message to the "street" as our business opportunities expand."
Barry Gross, President of Gross Capital, Inc., said, "Cantex Energy Corp. has an exciting business model and seasoned management team with the commitment and drive to improve their shareholder value. We are delighted to provide our expertise to significantly increase Cantex's market awareness, as well as provide the information needed to evaluate the Company and its potential in the marketplace."
About Gross Capital, Inc. Gross Capital, Inc. is a premier Investor Relations consulting firm specializing in representing companies whose stocks are undervalued due to a lack of retail, institutional, or analyst support. Gross Capital strives to achieve near and long-term appreciation in their clients' stock through an effective and carefully orchestrated marketing campaign. Gross Capital's process fosters steady growth, name recognition and builds a solid foundation for the companies they represent. Gross Capital's constituency is comprised of brokers, analysts, money managers, fund managers and institutions. Additionally, Gross Capital develops creative custom marketing materials to pique the interest of investors to help distinguish their client companies from their peers. For more information about the Company, please visit www.grosscapital.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.
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. See www.pinksheet.com for real time quotes, how to trade pink sheet stocks, how to protect yourself and additional stock information.
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 Cantex'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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Cantex Energy Shareholder Update Tuesday June 6, 9:00 am ET
SAN ANTONIO--(BUSINESS WIRE)--June 6, 2006--Cantex Energy Corp. (Pink Sheets:CTXE - News) announced today that the seismic crews have been mobilized and the 40 miles of seismic work has commenced on the Big Canyon Prospect targeting the eastern Val Verde Basin. The crew started operations on Friday June 2 2006. They have been moving over the terrain better than expected and the first of three lines should be completed by weeks end. Data then will be sent off for processing taking 3 to 4 weeks. The eastern Val Verde Basin is viewed by industry experts as perhaps one of the Lower 48's most under-explored, proven gas provinces. The Company's interpretation of historical data indicates the eastern Val Verde Basin has as many as four or more pay zones that remain vastly under-explored:
Ouachita Overthrust: The Company's geophysical expert, Providence Technologies, Inc., recognize and document the trend fairway as analogous to the Canadian Foothills and Arkoma Spiro/Wapanucka trends, both exhibiting prolific Cratonic Margin plays as is the case in the Val Verde Basin. What makes this opportunity so significant is the lack of high quality seismic imaging/data, until the recent emergence of new solutions, combined with the presence of multiple, stacked, thrusted reservoirs (at least three), the high price for natural gas, industry's desperate need for new reserves in the Lower 48, open, low-cost leases and well-developed natural gas transportation infrastructure. Lower Paleozoics: Multiple stacked pay zones, at least three occur in the in-situ subthrust and foreland Strawn, Devonian and Ellenburger carbonates. The "Productive Ellenburger" in nearby JM Field, is a major proven natural gas reservoir containing some 1 TCF (Trillion Cubic Feet) of proven reserves. The "Untested Ellenburger" structures in Big Canyon remain untested, with significant fault displacements and probable, substantial, tectonic fracture enhancement of the reservoirs. Foreland producing analogs include JM Field (1 TCF), Brown Bassett (2 TCF), Puckett/Gray Ranch (3 TCF) and Gomez Field (6 TCF). Numerous deep, untested structures have been identified in the western portion of the basin, based upon over 700 miles of 2D swath reconnaissance. There are likely an equal number of untested structural opportunities and perhaps additional opportunities in the eastern basin, where no modern data has been acquired by industry, which is the Company's present objective. Canyon Sands: The "Productive Canyon Sands" are in Sonora and Ozona Fields of the northern Val Verde Basin, both with proven reserves in excess of 1 TCF and well-developed infrastructure. The pay zones (at least two) are of different ages, Permian and Pennsylvanian, although commonly referred to as Canyon Sands. The producing analog for these sands is Pakenham Field, Terrell County, where Providence successfully acquired high-resolution 3D seismic for multiple clients through the 1990's. The combined Pakenham and new thrusted Strawn reserves, based upon Tom Brown/Conoco's discovery in 1994, on the 2D swath data under continuing development on the basis of modern 3D imaging, is 400 BCF new gas. Thrusted Strawn: This is a recently discovered new play trend. The discovery well, the Tom Brown ACU 1-49, Terrell County, came on flowing 13 million MCF per day plus 300 Barrels Condensate Per Day. Together with overlying Wolfcamp Sands, newly discovered reserves by Providence clients, using the same type of new data, exceed 400 BCF EUR. Trace Maurin, President of Cantex Energy Corp., stated, "The Val Verde Basin offers a significant, under-explored natural gas resource opportunity for new and emerging players. The seismic data available currently becomes a distinct competitive advantage to evaluate what has not been seen before. There are at least a dozen active players in the basin now and an unknown number of additional players likely awaiting some incentive or opportunity to gain a competitive advantage, and we believe that our geophysical experts at Providence Technologies have the capability and expertise to provide us that advantage. Needless-to-say, we are anxiously looking forward to the ongoing seismic data reports over the next several weeks."
Other Updates:
In addition, the Company wishes to confirm that it has executed the final closing of a private placement as announced on April 19, 2006. The total monies raised has been reduced to $400,000 at $1.00 per share plus a warrant to acquire an additional share at $1.00 at anytime over the next 12 months. Also, the investor will receive a 1% gross overriding royalty (Big Canyon only) in the Company's future revenue (verses the 1.25% previously announced) for the premium paid on the financing of the Big Canyon 2D Swath.
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 - News) 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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Cantex Energy Shareholder Update Business Wire (Tue 9:00am)
Cantex Energy Corp. Retains Gross Capital, Inc. to Manage Investor Relations Outreach Initiatives Business Wire (Tue, May 30)
Cantex Energy Corp. Announces Completion of the GPS Survey Today and the Mobilization of Seismic Crews for Big Canyon 2D Swath Market Wire (Tue, May 23)
Cantex Energy Corp. Corporate Update to Shareholders Business Wire (Tue, May 9)
Cantex Energy Corp. Receiving Interest From the Industry as It Enters Next Phase of Development Business Wire (Mon, May 1)
Cantex Energy Corp. Update on the Seismic Program for Big Canyon Ranch Project Market Wire (Fri, Apr 21)
Cantex Energy Corp., to Re-Price the $500,000 Private Placement Announced on April 19, 2006 Market Wire (Wed, Apr 19)
Cantex Energy Corp. to Raise $500,000 in Private Placement at $0.50 per Share and Agrees to Farm Out 1/4 of Its Interest in the Big Canyon Ranch Project Market Wire (Wed, Apr 19)
Cantex Energy Corp. Reports an Update on the Big Canyon Project Business Wire (Thu, Apr 6)
Cantex Energy Corp. Reports an Update on the Big Canyon Project Business Wire (Thu, Apr 6)
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