Cross Border Resources, Inc. (XBOR)

[Ed Ajootian]

boomer, I believe brighter days for XBOR fans are right around the corner. Its pretty obvious that they need $$$ but I expect that issue to be resolved very shortly. It will be interesting to see what these guys can do once they get the drill bits turning to the right. Also we shouldn't forget that they have 3 Wolfberry wells that they are completing as we speak, and while those wells are usually not as prolific as Bone Spring wells they are targeting multiple formations so they could discover a lot of reserves.

As demonstrated by their 1Q 10Q they are easily covering their interest expense with about a 5:1 interest coverage ratio. This implies that they might be able to get another small bump in their bank line.

An added benefit of raising some equity at this point is that it puts them in a position to market some of their acreage more aggressively. They already have agreed to sell some of it for $800K. Potential buyers would be more apt to do a deal with them once they see that they are on solid financial footing.

Looks like you, BobbyW & me are gonna be making some serious coin on this stock in the coming months. Don't let seaoh get under your skin, I appreciate hearing your thoughts on this stock so just put the guy on ignore if you have to.