Cano Petroleum, Inc Watch

from S-3 2 pages Not Valid Unless Countersigned by Transfer Agent. Incorporated Under the Laws of the State of Delawarre. Number Cano Petroleum, Inc. Authorized Common Stock: 100,000,000 Shares Par Value: $.0001 Shares Cusip No. 137801 10 B This Certifies That Specimen Is the Record Holder of Shares of Cano Petroleum, Inc. Common Stock Transferable on the Books of the Corporation in Person or by Duly Authorized Attorney Upon Surrender of This Certificate Properly Endorsed. This Certificate Is Not Valid Until Countersigned by the Transfer Agent and Registered by the Registrar. Witness the Facsimile Seal of the Corporation and the Facsimile Signatures of Its Duly Authorized Officers. Dated: Secretary President the Following Abbreviations, When Used in the Inscription on the Face of This Certificate, Shall Be Construed as Though They Were Written Out in Full According to Applicable Laws or Regulations

from S-3 46 pages Form of Subordinated Indenture Cano Petroleum, Inc. as Issuer and as Trustee Indenture Dated as of , Subordinated Debt Securities Cano Petroleum, Inc. Reconciliation and Tie Between Trust Indenture Act of 1939 and Indenture, Dated as of ,

from S-3 42 pages Form of Senior Indenture Cano Petroleum, Inc. as Issuer and as Trustee Indenture Dated as of , Debt Securities Cano Petroleum, Inc. Reconciliation and Tie Between Trust Indenture Act of 1939 and Indenture, Dated as of ,

from 8-K 59 pages Registration Rights Agreement

from 8-K/A 62 pages Registration Rights Agreement

from 8-K 62 pages Registration Rights Agreement

from 8-K 2 pages Amendment No. One to the Registration Rights Agreement

from 8-K 2 pages Amendment No. One to the Registration Rights Agreement

from 8-K 8 pages Registration Rights Agreement

from 8-K 8 pages Registration Rights Agreement

from 8-K 12 pages Subscription

from 8-K 22 pages Subscription