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Cano Petroleum, Inc. (CANOQ) [hlAlert]

Rating:
Buy CFW
down 99.75 %

Cano Petroleum, Inc. (CFW) rated Buy with price target $9 by Broadpoint Capital

Posted on: Thursday,  Jul 24, 2008  8:25 AM ET by Broadpoint Capital

Broadpoint Capital rated Buy Cano Petroleum, Inc. (OTCBB: CANOQ) on 07/24/2008. Previously Broadpoint Capital rated Buy Cano Petroleum, Inc. (OTCBB: CANOQ) on
03/06/2008., when the stock price was $6.23. Since then, Cano Petroleum, Inc. has lost 99.76% as of 07/20/2012's recent price of $0.02.
If you would have followed the previous Broadpoint Capital's recommendation on CANOQ, you would have lost 99.75% of your investment in 1597 days.

Cano Petroleum, Inc. (Cano) is an independent oil and natural gas company. The Company?s assets are located onshore United States in Texas, New Mexico and Oklahoma. Cano?s proved oil and natural gas reserves as of June 30, 2009, were prepared by Miller and Lents, Ltd., international oil and gas consultants. As of August 28, 2009, the Company had 17 wells containing multiple completions. As of August 28, 2009, it had total acreage of 55,847 gross acres and 55,247 net acres, all of which was considered developed acreage. Cano sells its crude oil and natural gas production to several independent purchasers. During the fiscal year ended June 30, 2008, 10% or more of its total revenues were attributable to fiver customers accounting for 32%, 18%, 15%, 13% and 10% of total operating revenue, respectively. On October 1, 2008, Cano completed the sale of its subsidiary, Pantwist, LLC, to Legacy Reserves Operating L.P. On December 2, 2008, it sold its interests in the Corsicana Properties.

Broadpoint Capital, Inc. is an investment banking and capital markets firm that provides corporate and public finance services and trading of corporate, government, and municipal securities for institutions. The company has three divisions: Municipal Capital Markets division, which underwrites and trades municipal securities in new issue and secondary markets; Taxable Fixed Income division, which is a dealer focusing on fixed income securities with limited liquidity; and Equity Capital Markets division, which is a sector-focused investment banking group providing research, trading, raising of capital and advisory services for institutional and corporate clients. Broadpoint Capital, formerly known as First Albany Corporation, was founded in 1953 and is based in New York, New York. The company operates as a subsidiary of First Albany Companies Inc.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
7/24/2008 8:25 AM Buy
None
4.27 9.00
as of 1/1/0001
1 Week   
1 Month   
3 Months   
1 YTD   
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
3/6/2008 8:25 AM Buy
None
6.23 10.00

(*) Stock Price at the time of the recommendation.
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