Cano Petroleum Updates Panhandle Field Status.FORT WORTH, Texas Fort Worth is the fifth-largest city in the state of Texas, 18th-largest city in the United States[1], and voted one of "America’s Most Livable Communities. -- As a further supplement to its prior releases, Cano Petroleum, Inc. (AMEX AMEX See: American Stock Exchange : CFW CFW Custom Firmware CFW Call Forward CFW Cystic Fibrosis Worldwide CFW Cache Fast Write CFW Citizens for Florida's Waterways CFW Center for Writing (education) CFW Continuous Fillet Weld (engineering) ) ("Cano") today provided additional information regarding production (approximately 800 barrels of oil equivalent per day ("BOEPD BOEPD Barrels of Oil Equivalent Per Day ")) from its Panhandle Field located in the Texas panhandle counties of Hutchinson, Gray and Carson that has been affected by recent significant grass fires in the area. As of today, production from the Panhandle Field has been restored to 475 BOEPD. While a main electrical service Electrical service, in building wiring, refers to the wiring that connects the electric utility's cables in the street to the building. Specifically, electrical service is the wiring from the street, through the meter and up to the panelboard, but no farther. line supplying the field remains out of service, crews from the local utility are presently on site and working to restore the line. Cano remains on or ahead of schedule to have all of its production from the Panhandle Field restored to pre-fire levels (800 BOEPD) by mid April. About Cano Petroleum Cano Petroleum Inc. is an independent Texas-based energy producer with properties in the mid-continent region of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Led by an experienced management team, Cano's primary focus is on increasing domestic production from proven onshore fields using secondary and enhanced recovery methods. Cano trades on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors CFW. Additional information is available at www.canopetro.com. Safe-Harbor Statement -- Except for the historical information contained herein, the matters set forth in this news release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The company intends that all such statements be subject to the "safe-harbor" provisions of those Acts. Many important risks, factors and conditions may cause the company's actual results to differ materially from those discussed in any such forward-looking statement. These risks include, but are not limited to, estimates or forecasts of reserves, estimates or forecasts of production, future commodity prices, exchange rates, interest rates, geological and political risks, drilling risks, product demand, transportation restrictions, the ability of Cano Petroleum, Inc. to obtain additional capital, and other risks and uncertainties described in the company's filings with the Securities and Exchange Commission. The historical results achieved by the company are not necessarily indicative of its future prospects. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. |
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