Value Microcaps Junior Energy

[Bobwins]

XBor.ob $2.11 financing closed at 1.50/unit. 1 share + warrant with a 2.25 strike until 2016. Watch price this week to see which way it's going to go.....towards PP price or up due to financing and go ahead on Bone Springs drillings as well as other Permian Basin prospects. Bobwins



Press Release Source: Cross Border Resources, Inc. On Monday May 23, 2011, 4:42 pm
SAN ANTONIO, May 23, 2011 /PRNewswire/ -- Cross Border Resources, Inc. (OTCBB:XBOR.ob - News) (the "Company") today, May 23, 2011, announced that it has entered into a definitive stock purchase agreement to sell $5,400,000 worth of units ("Units") comprised of one share of its common stock and one five year stock purchase warrant, in a private placement financing with a select group of institutional and accredited investors. In the aggregate, the Company will sell 3,600,000 Units at a price of $1.50 per share, resulting in aggregate gross proceeds of $5,400,000. The Company expects net proceeds at closing of approximately $5,049,000 after the deduction of placement agent commissions and offering expenses. The warrants can be exercised at a price of $2.25 per common share.

(Logo: http://photos.prnewswire.com/prnh/20110523/AQ07208LOGO)

The Company expects to use the net proceeds from this financing to fund continued drilling in its Bone Spring, Abo, and Wolfberry acreage, general corporate purposes, and working capital. The transaction is expected to close on or about May 27, 2011, subject to the satisfaction of certain customary closing conditions.

C. K. Cooper & Company acted as lead placement agent and R. M. Duncan Securities, Inc. acted as co-placement agent for this transaction.

The shares of common stock sold in this private placement have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or applicable state securities laws, and accordingly may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. The Company has agreed to file a registration statement with the Securities and Exchange Commission registering the resale of the shares of common stock issued in this private placement.

This release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state. Any offering of the securities under the resale registration statement will only be by means of a prospectus.

About Cross Border Resources

Cross Border Resources is an oil and gas exploration company, headquartered in San Antonio, Texas, focusing on non-operated opportunities with proven operators within the Permian Basin. Cross Border consists of over 800,000 gross (approximately 300,000 net) mineral and lease acres within the state of New Mexico targeting various emerging plays including the 1st & 2nd Bone Spring, and more conventional plays such as the Abo, Yeso, San Andres as well as our Wolfberry acreage located in West Texas. Cross Border Resources currently owns approximately 31,000 net acres within the Permian Basin.

Contacts:
Cross Border Resources, Inc.
Brad Holmes
Nine Greenway Plaza, Suite 550
Houston, TX 77046
[phone] – office
[phone] - cell
[e-mail]