By Dallas Business Journal

Energy company Cano Petroleum Inc. has hired Canaccord Genuity Inc. and Global Hunter Securities LLC to help the company review a merger or possible sale of the company. Fort Worth-based Cano Petroleum indicated earlier this month that it will be seeking strategic alternatives.

The actions taken will be used to enhance shareholder value, Cano Petroleum (NYSE Amex: CFW) said in a statement Monday.

The company said it will not disclose what measures will be taken until the board of directors has given the transaction or proposal its own stamp of approval.

Earlier this month, Cano Petroleum Inc. called off a planned merger with Houston-based Resaca Exploitation Inc.

Copyright 2010 American City Business Journals
Copyright 2010