Cano Petroleum, Inc. (CFW) Reports Mid Year Oil and Gas Reserves
Cano Petroleum, Inc. reported a slight decrease in proved reserves of oil and gas at the end of the second quarter of 2010 compared to six months earlier. Cano Petroleum, Inc. reported 42.5 million barrels of oil equivalent of proved reserves at 6/30/2010, compared to proved reserves of 43 million barrels of oil equivalent at the end of 2009. Proved developed reserves were 8.3 million barrels of oil equivalent at 6/30/2010 compared to 8.8 million barrels of oil equivalent at 12/31/2009. The proved reserves estimate at 6/30/2010 were calculated using the unweighted average of the NYMEX crude oil and natural…