REASONS THIS STOCK COULD SOAR WHEN OIL PRICES SPIKE 50 - 100%

  • The company was founded by a former Exxon Mobil president responsible for 300,000 barrels of production a day (BOPD).
  • Management has invested over $1.5 MILLION in establishing the corporate structure, refining acquisition parameters and developing the current deal pipeline.
  • Current production averages 1133 barrels of oil per month (BOPM) representing 950,000 BO proved / probable reserves. This project is estimated to do 3400 BOPM after rework.
  • Proven and probable (2P) reserves associated with their Louisiana assets have a discounted present value (PV10) of $41,245,950 as of a March 1, 2011 reserve summary prepared by management, indicating attractive potential for growth.
  • Closed bridge financing for $150,000 and went public in 2011.
  • Plans to acquire over 1,500 acres with over 59 shut-in wells and 30 producing wells with 40 BOPD of current production, which will do 200 BOPD with minimal rework representing 2.1 MILLION barrels of proven reserves. A preliminary agreement has already been secured.
  • Plans to acquire and develop $200 MILLION in proven reserves.

Wednesday, June 29, 2011

Cross Border Ramps Up Capital Budget For More Than 20 Wells


Cross Border Resources Inc. has budgeted $7.4 million during the second half of the year to proceed with the development of 21 wells in West Texas and New Mexico.
This compares to only four wells during the first half of the year. Six of the new wells will target Bone Spring oil play in southeastern New Mexico. Five of the wells will target the Abo formation, two will target the Delaware and Yeso formation each and one will target the San Andres, also in New Mexico. In West Texas, five wells will target the Wolfberry trend. Cross Border’s working interest in these wells varies from 100 percent to 3 percent.
By the end of the year, Cross Border expects to have a daily production rate of 500 barrels of oil equivalent, company Chairman and CEO E. Will Gray says.
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