Cano Petroleum, Inc.

Full Name of Registrant

Not Applicable

Former Name if Applicable

6500 North Belt Line Road, Suite 200

Address of Principal Executive Office (Street and Number)

Irving, Texas 75063

City, State and Zip Code

(a)

The reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;

o

(b)

The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly  report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and

(c)

The accountant’s statement or other exhibit required by Rule12b-25(c) has been attached if applicable.

(1)

Name and telephone number of person to contact in regard to this notification

John H. Homier

 (214)

687-0030

(Name)

(Area Code)

(Telephone Number)

(2)

Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed?  If answer is no, identify report(s).

o Yes    x No

On February 3, 2012, the registrant filed its quarterly report on Form 10-Q for the quarter ended September 30, 2011 (the “Quarterly Report”).  However, as previously disclosed, the unaudited and unreviewed interim financial statements and notes thereto filed with the Quarterly Report were not reviewed by an independent public accountant using professional standards and procedures for conducting such reviews, as established by generally accepted auditing standards, as required by Rule 10-01(d) of Regulation S-X (“Rule 10-01(d)”) promulgated under the Securities Act of 1934, as amended (the “Exchange Act”).  As a result, the registrant may not be considered current in its filings under the Exchange Act until it files an amendment to the Quarterly Report that contains financial statements that have been reviewed in compliance with the requirements of Rule 10-01(d).

(3)

Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof?

o Yes    o No

If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.

The Company is unable to provide a reasonable estimate of the changes in the results of operations for the quarters ended December 31, 2011 and 2010, because, as described in Part III of this Form 12b-25, which is incorporated by reference herein, the Company is unable to prepare and review all necessary information and disclosures for such periods

Date

February 15, 2012

By

/s/ James R. Latimer, III

James R. Latimer, III

Chief Executive Officer

ATTENTION

Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001).