-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 AVZd0pix69UASfntZiHbq8HQX6QmFyzcPQ0vYRDQhq8GzJbqg+2k0wlD+BvMEy/g
 jxtkqCKx0VVRREoB2RqMcw==

<SEC-DOCUMENT>0001179110-04-016612.txt : 20040816
<SEC-HEADER>0001179110-04-016612.hdr.sgml : 20040816
<ACCEPTANCE-DATETIME>20040816171305
ACCESSION NUMBER:		0001179110-04-016612
CONFORMED SUBMISSION TYPE:	5
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040630
FILED AS OF DATE:		20040816

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			COCHRANE TOM
		CENTRAL INDEX KEY:			0001293510

	FILING VALUES:
		FORM TYPE:		5
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-50386
		FILM NUMBER:		04979786

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		817-698-0760

	MAIL ADDRESS:	
		STREET 1:		309 WEST SEVENTH STREET
		STREET 2:		SUITE 1600
		CITY:			FORT WORTH
		STATE:			TX
		ZIP:			76102

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CANO PETROLEUM, INC
		CENTRAL INDEX KEY:			0001253710
		STANDARD INDUSTRIAL CLASSIFICATION:	 [9995]
		IRS NUMBER:				980401645
		FISCAL YEAR END:			0630

	BUSINESS ADDRESS:	
		STREET 1:		309 WEST 7TH STREET
		STREET 2:		STE 1600
		CITY:			FORT WORTH
		STATE:			TX
		ZIP:			76102
		BUSINESS PHONE:		817-698-0900

	MAIL ADDRESS:	
		STREET 1:		309 WEST 7TH STREET
		STREET 2:		STE 1600
		CITY:			FORT WORTH
		STATE:			TX
		ZIP:			76102

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HURON VENTURES INC
		DATE OF NAME CHANGE:	20030711
</SEC-HEADER>
<DOCUMENT>
<TYPE>5
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 5 -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>5</documentType>

    <periodOfReport>2004-06-30</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <form3HoldingsReported>0</form3HoldingsReported>

    <form4TransactionsReported>0</form4TransactionsReported>

    <issuer>
        <issuerCik>0001253710</issuerCik>
        <issuerName>CANO PETROLEUM, INC</issuerName>
        <issuerTradingSymbol>CAOP</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001293510</rptOwnerCik>
            <rptOwnerName>COCHRANE TOM</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>309 W. SEVENTH STREET</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 1600</rptOwnerStreet2>
            <rptOwnerCity>FORT WORTH</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>76102</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Executive Vice President</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2004-06-03</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>5</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>464850</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>464850</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Acquired per a merger transaction</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Tom Cochrane</signatureName>
        <signatureDate>2004-08-16</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----