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Cantex Energy Corp., Commences Drilling The First of a Potential Eight Wells on the West Ant Hills Prospect and Increases its Working Interest to 33 percent.
Cantex Energy Corp., Commences Drilling The First of a Potential Eight Wells on the West Ant Hills Prospect and Increases its Working Interest to 33 percent..
About this update from Arkose Energy Corp.
[{"type":"text","content":"San Antonio, TX, February 24, 2006 / Cantex Energy Corp., (Pink Sheets-CTXE) announced today that drilling has commenced on the West Ant Hills Prospect as scheduled and has exercised its option to increase its working interest from 18% to 33%. \r\nTrace Maurin, President of Cantex Energy, commented, \"we are very pleased to have the drilling underway for Federal #1-24 Well, Niobrara County Wyoming with anticipated testing and completion in mid March\".\r\nIn addition the Company has agreed to exercise its option to earn a greater interest in the play by paying an additional $300,000 towards the drill program. Mr. Maurin states \"our level of optimism has risen significantly due to another operator along the same channel approximately one mile north of our first drill location, who is in the process of setting pipe and completing. Historical production rates indicate production of 150 to 200bbls per day, therefore we felt it was in the best interest of our shareholders to exercise our option to increase the Company's working interest to 33% resulting in a Net Royalty Interest of approximately 24 %\" \r\nCantex Energy Corp. is an independent, managed risk, oil and gas exploration, development, and production company headquartered in San Antonio, Texas. The Company's current focus is the optimal exploitation and development of approximately 1,200 acres known as the West Ant Hills Prospect located in Niobrara County Wyoming.\r\nInvestors are encouraged to visit www.emerginggrowthstocks.com for a recent research profile on CTXE.\r\nCantex Energy Corp., is a Non-Reporting Company, quoted on the Pink Sheets, having filed a Form 211 pursuant to Rule 15c2-11 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.\r\n\r\nPurchasing 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\r\nFor more information about Cantex Energy Corp. (Pink Sheets: CTXE) please contact Emerging Growth Stocks Mark Porrello (310) 491-9641 or visit their website at www.cantexenergy.com \r\n \r\nExcept for historical information conta...