Cross Border Resources, Inc. (XBOR)

[Ed Ajootian]

Bobw, comparing IP rate to a current production rate, after a well has been going for maybe a month or so, is comparing an apple to an orange. Any idea what the 30 day IP rates are for good Wolfberry wells?

Also note that not all of the potentially productive zones have been opened up yet in XBOR's wells. Presumably this would be the case for the typical Wolfberry well you are looking at.

Given that the economics are good even if they don't do any better than 71 bopd per well I'm not sure how much sense it makes to hold off on drilling more wells in order to see how much they can get out of the first batch. I would think the best course for now would be to keep drilling holes, and just don't frack into that zone that produced all that water in the first batch of wells.

Great to see the huge volume today, hopefully that will keep up for awhile. Right now trading volume is a lot more important than price appreciation. We all know the stock should move back up early next year when they start announcing a slew of blockbuster drilling results. The only thing that would hold it back would be if the trailing 90-day average volume is not a lot higher than it is now.