Cano Petroleum to Present at Various Investor Conferences

FORT WORTH, Texas--(BUSINESS WIRE)--Cano Petroleum, Inc. (AMEX:CFW) announced today that Jeff Johnson (Chairman and CEO) and Patrick McKinney (SVP Engineering and Operations) plan to present at the Canaccord Adams Global Energy Conference at 4:05 p.m. (EST) on Wednesday, November 19, 2008 in Miami, Florida. Mr. Johnson and Ben Daitch (SVP and CFO) plan to present at the Houston Energy Financial Forum at 3:40 p.m. (EST) on Thursday, November 20, 2008 in Houston, Texas. Mr. McKinney will also present at the Beacon Street Group’s 6^th Annual Southwestern Showcase at 2:40 p.m. (EST) on Thursday, November 20, 2008 in Dallas, Texas.

ABOUT CANO PETROLEUM:

Cano Petroleum Inc. is an independent Texas-based energy producer with properties in the mid-continent region of the United States. Led by an experienced management team, Cano’s primary focus is on increasing domestic production from proven fields using enhanced recovery methods. Cano trades on the American Stock Exchange under the ticker symbol 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.