CFW Cano Petroleum Common Stock

On April 26, 2011, Cano Petroleum, Inc. (NYSE Amex:CFW) announced an update regarding its compliance with the NYSE Amex listing standards.

On April 25, 2011, Cano received a letter from NYSE Amex LLC (the “Exchange”) notifying Cano that the continued listing deficiency referenced in the Exchange’s November 10, 2010 letter to Cano had been resolved. On November 10, 2010, Cano received a notice from the Exchange that Cano did not meet one of the Exchange’s continued listing standards set forth in Part 10 of the NYSE Amex LLC Company Guide (the “AMEX Company Guide”) in that it failed to hold its 2009 annual meeting of stockholders prior to June 30, 2010. On April 21, 2011, Cano held its Annual Meeting of Stockholders (the “Annual Meeting”). All matters voted upon at the Annual Meeting were approved with the required votes. As a result, Cano has achieved compliance with Section 704 of the AMEX Company Guide, and Cano’s common stock continues to trade on the Exchange.

About Cano

Cano Petroleum, Inc. is an independent Texas-based energy producer with properties in the mid-continent region of the United States. Cano’s primary focus is on increasing domestic production from proven fields using enhanced recovery methods. Cano trades on the NYSE Amex under the ticker symbol CFW. Additional information is available at www.canopetro.com.

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