Cano Petroleum, Inc., an independent crude oil and natural gas production company, engages in the acquisition, development, operation, and exploration of oil and natural gas properties. The company focuses on acquiring undervalued properties, located primarily in Texas, Oklahoma, Kansas, Illinois, and other midcontinent regions of the United States. Its properties include Davenport Unit property that is located in Lincoln County, Oklahoma covering approximately 2,178 acres; Rich Valley area that spans 4,500 acres; and Nowata Field property, which is located in Nowata County, Oklahoma, consists of 4,500 acres and 228 producing oil wells. As of June 30, 2004, the company had estimated total proved crude oil reserves of 213,245 barrels, of which 12,608 barrels were proved producing reserves. The company was founded in 1997 as Huron Ventures, Inc. and changed its name to Cano Petroleum, Inc. in June 2004. Cano Petroleum is headquartered in Fort Worth, Texas.