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nrj · 27-10-2005, 09:11

die kohle han se jedenfalls wohl langsam beisammen

26 Oktober 2005 10:26 PM Zeitzone Berlin

Cano Petroleum Executes Term Sheet on $15,000,000 Second Lien Term Loan Facility

FORT WORTH, Texas--(BUSINESS WIRE)--Oct. 26, 2005--Cano Petroleum, Inc. (Amex: CFW) announced today that it entered into a commitment letter and corresponding term sheet ("Commitment") with Energy Components SPC ("EC") under which EC provided a commitment for a $15,000,000 Second Lien Term Loan Facility ("Loan Facility") and that Cano has ended discussions with other potential lenders regarding a junior credit facility. The Loan Facility contemplates initial borrowing availability of $15,000,000 and has a term of five years. The Commitment is subject to due diligence and the negotiation of a credit agreement. Initial proceeds from the Loan Facility have been earmarked to support a previously announced acquisition. There can be no guarantee that the financing covered by the Commitment will take place or that if it does take place, that it will take place on the terms set forth above or in the Commitment.

About Cano Petroleum

Cano Petroleum Inc. is an independent Texas-based energy producer with properties in the mid-continent region of the United States. Led by an experienced management team, Cano's primary focus is on increasing domestic production from proven fields using enhanced recovery methods. Cano trades on the American Stock Exchange under the ticker symbol CFW. Additional information is available at www.canopetro.com.

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. The company intends that all such statements be subject to the "safe-harbor" provisions of those Acts. Many important risks, factors and conditions may cause the company's actual results to differ materially from those discussed in any such forward-looking statement. These risks include, but are not limited to, estimates or forecasts of reserves, estimates or forecasts of production, future commodity prices, exchange rates, interest rates, geological and political risks, drilling risks, product demand, transportation restrictions, the ability of Cano Petroleum, Inc. to obtain additional capital, and other risks and uncertainties described in the company's filings with the Securities and Exchange Commission. The historical results achieved by the company are not necessarily indicative of its future prospects. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

27-10-2005, 09:11	#39
nrj TBB Goldmember Registriert seit: Dec 2004 Beiträge: 641	Übernahme wird wohl bald abgeschlossen die kohle han se jedenfalls wohl langsam beisammen 26 Oktober 2005 10:26 PM Zeitzone Berlin Cano Petroleum Executes Term Sheet on $15,000,000 Second Lien Term Loan Facility FORT WORTH, Texas--(BUSINESS WIRE)--Oct. 26, 2005--Cano Petroleum, Inc. (Amex: CFW) announced today that it entered into a commitment letter and corresponding term sheet ("Commitment") with Energy Components SPC ("EC") under which EC provided a commitment for a $15,000,000 Second Lien Term Loan Facility ("Loan Facility") and that Cano has ended discussions with other potential lenders regarding a junior credit facility. The Loan Facility contemplates initial borrowing availability of $15,000,000 and has a term of five years. The Commitment is subject to due diligence and the negotiation of a credit agreement. Initial proceeds from the Loan Facility have been earmarked to support a previously announced acquisition. There can be no guarantee that the financing covered by the Commitment will take place or that if it does take place, that it will take place on the terms set forth above or in the Commitment. About Cano Petroleum Cano Petroleum Inc. is an independent Texas-based energy producer with properties in the mid-continent region of the United States. Led by an experienced management team, Cano's primary focus is on increasing domestic production from proven fields using enhanced recovery methods. Cano trades on the American Stock Exchange under the ticker symbol CFW. Additional information is available at www.canopetro.com. 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. The company intends that all such statements be subject to the "safe-harbor" provisions of those Acts. Many important risks, factors and conditions may cause the company's actual results to differ materially from those discussed in any such forward-looking statement. These risks include, but are not limited to, estimates or forecasts of reserves, estimates or forecasts of production, future commodity prices, exchange rates, interest rates, geological and political risks, drilling risks, product demand, transportation restrictions, the ability of Cano Petroleum, Inc. to obtain additional capital, and other risks and uncertainties described in the company's filings with the Securities and Exchange Commission. The historical results achieved by the company are not necessarily indicative of its future prospects. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.