UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

FORM 8-K

 

CURRENT REPORT PURSUANT

TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

        Date of report (Date of earliest event reported)     January 18, 2008

 

Cano Petroleum, Inc.
(Exact Name of Registrant as Specified in Its Charter)

 

Delaware
(State or Other Jurisdiction of Incorporation)

 

 

 

(817) 698-0900

(Registrant’s Telephone Number, Including Area Code)

 

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

        Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

Item 8.01.              Other Events

 

Cano Petroleum, Inc. (“Cano”) today announced that claims were recently made against it and certain of its subsidiaries related to grass fires that occurred in the Texas Panhandle in March 2006.  Cano and certain of its subsidiaries were named as defendants in one case filed in Tarrant County, Texas by heirs of four individuals who died, allegedly as a result of those grass fires.  Heirs of two of these four individuals had previously filed and dismissed similar suits against Cano.  The plaintiffs seek damages and other relief.  Cano further announced that two property owners have intervened in a suit pending in the 100th Judicial District Court in Carson County, Texas asserting claims against Cano and certain of its subsidiaries seeking damages and other relief allegedly related to the same grass fires.

 

Jeff Johnson, Cano’s Chairman and CEO, stated, “we continue to stand firmly by our previous statements and strongly believe that these allegations are not supported by the facts.”

 

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.  Cano intends that all such statements be subject to the “safe-harbor” provisions of those Acts.

 

* * * * *

 

 

2

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

	CANO PETROLEUM, INC.
Date: January 18, 2008
	By:	/s/ Morris B. Smith
		Morris B. Smith
		Senior Vice President and Chief Financial Officer

 

 

3