Double Black Diamond buys 800,000 shares of Cano Petroleum

By Lisa Kerner

Charlotte, N.C., Oct. 31 - Cano Petroleum, Inc. investors led by Double Black Diamond Offshore Ltd. upped their stake to 11.3% from 9.5% on Oct. 8 with the purchase of 800,000 shares of the company's stock.

The shares were purchased on Oct. 29 and Oct. 30 at prices from $0.54 to $0.63 each, according to a schedule 13D/A filed with the Securities and Exchange Commission.

Double Black Diamond beneficially owns 5,205,818 shares of the company's stock.

Cano Petroleum is a Fort Worth, Texas-based oil and natural gas company.

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