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.

Thursday, August 4, 2011

Cross Border Resources Updates Current Permian Basin Operations

SAN ANTONIO, Aug. 3, 2011 /PRNewswire/ -- Cross Border Resources, Inc. (OTCQX: XBOR), ("Cross Border" or "the Company") today provided an update on its current Permian Basin operations. The Company continues an active second-half drilling program with 21 wells scheduled in the second half of this year, accelerating its first-half pace. 


"The approximate estimated ultimate recovery for Abo wells, such as the Leo 3 Fed Com. #1H,  is 200 to 250 MBOE," said E. Will Gray II, Chairman and CEO of Cross Border. "We hold identical interests in three potential offsets to this well. All four wells were listed as possible reserves in our last reserves report, prepared by Joe C. Neal & Associates, independent reservoir engineers.
"Separately, Cimarex has two direct offset wells to the Leo 3 Fed Com. #1H, now on production, that currently average 369 bopd/242 mcfd and 230 bopd/163 mcfd, respectively," Mr. Gray added. "We are pleased with the continuing progress we see in the Abo and our other New Mexico plays."
Source: PR Newswire 
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