Hi there, hope this helps, but my parents Cannon Chichester has just suffered exactly the same problem.
Also assuming it to be the thermostat, myself and my dad found it: attached to the unit behind the control knob (under the pan hobs) and set about replacing it after sourcing it from the net. My Dad fitted it up today but no avail, exactly the same symtoms persist.
I have since spent some time search the net this eve, a few suggestions point to the FSD (Flame Failure Safety Device); Both myself and my Dad wondered if this was the problem unit. Anyway, I'm now trying to source one (there is one on the Cannon Parts site but I'm hoping there are cheaper places to get one).
Hope this helps and saves you replacing the thermostat/lower oven control knob like we have!
Jay, April 2009