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Cantex Energy Corp Receives $200,000 From Private Placement

Posted on: Friday, 2 November 2007, 12:00 CDT

Cantex Energy Corp. (Pink Sheets:CTXE) announced today the completion of a private placement of convertible notes in the aggregate principal amount of $200,000. The proceeds will be used to facilitate additional leases on Cantex's Big Canyon Prospect and will bring its working interest to 65% from 31.25%. The Original Issue Discount Convertible Debentures are convertible into common stock of the Company at a conversion price of $0.10 per share.

Additionally, Cantex has engaged Newport Capital Consultants, Inc. to assist in raising monies on behalf of the company to fund its four-well drilling program in the Big Canyon Prospect located in Val Verde Basin, Terrell County, Texas. The company currently has a well-defined plan for infill drilling of this leasehold.

Cantex has also achieved a 70% farmout on 40 acres of its West Ant Hills Prospect located in Niobrara County, Wyoming to afford the company a greater focus on its Big Canyon Prospect. The farmout is for a period of 180 days to commence the drilling of a 5200' test well.

Trace Maurin, President and CEO of Cantex Energy Corp., stated, "We are extremely pleased to have completed this private placement such that we can facilitate further exploration and development of our Big Canyon Prospect. As always, we remain focused and committed to the execution of our business plan and project initiatives. Our management team's dedicated efforts and steadfast determination are paramount as we look forward to gaining additional possible reserves to grow our company and build shareholder value."

More 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.

Source: Business Wire

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