Stockholders of Cano Petroleum has voted to adopt the Agreement and Plan of Merger dated as of September 29, 2009, (as amended, the 'Merger Agreement') among Cano, Resaca Exploitation, Inc. ('Resaca') and Resaca Acquisition Sub, Inc., a wholly-owned subsidiary of Resaca ('Merger Sub') and the other proposals described in Cano's proxy statement previously mailed to stockholders on or about June 2, 2010.

Cano has now received all necessary stockholder approvals to proceed with the merger transaction. Cano and Resaca expect to complete the merger, which remains subject to the satisfaction of the remaining closing conditions, including without limitation, refinancing of the indebtedness of each of Cano and Resaca, on or about June 30, 2010. Under the terms of the Merger Agreement, Merger Sub will be merged with and into Cano, resulting in Cano becoming a wholly-owned subsidiary of Resaca.

Tags: Cano Petroleum