Cano Petroleum Inc.

Fort Worth, Texas-based Cano Petroleum Inc. has retained Canaccord Genuity Inc. and Global Hunter Securities LLC to review strategic alternatives including assets sales or a merger.

The development follows an unsuccessful attempt to merge with Resaca Exploitation Inc.

As of Sept. 30, 2009, Cano assets include 49.1 million barrels equivalent of proved reserves (21% proved developed; 79 oil) in Texas, New Mexico and Oklahoma, with an additional 13.9 billion barrels equivalent of probable reserves. Production was 1,309 BOE per day.

The data room will open in early August. Contact Ben Daitch, 877-698-0900.