Cross Border Resources, Inc. (XBOR)

[Ed Ajootian]

boomer, agreed, it will be interesting to see how much money they will be able to raise and on what terms. I believe one of the reasons Will was in Houston last week was to look for $$$$. I don't mind some dilution as long as it enables them to drill a lot more holes. This business model is either going to work or not based on drillbit results, irrespective of how much dilution occurs at this point (within reason of course). Being a non-operator they will always want to have some extra cash sitting around just in case they get lambasted with a ton of AFEs as what came in from Cimarex recently. It would be a shame if they ended up having to non-consent on a well just because they were broke at the time they got the AFE.

I ended up missing the webcast myself, something came up. They usually post a link to a replay of the webcast in the upper right part of the EPG home page, http://www.energyprospectus.com/ , a few days after the event. Hopefully they will do that for the XBOR presentation early next week.