Cross Border Resources, Inc. (XBOR)

[boomer23]

It's easy stuff Ed...XBOR has the acreage but has never had the pockets or management going back to Pure days to do much with it. RDMP is basically a start up but has significant resources available to it and technical expertise in the Permian. The losses to date are losses related to the formation and building of company infrastructure. Very little drilling to date but as you saw their Madera IP's at more than 1,000 BOPD and they own 100% of the W.I. there. I've seen many companies formed with 5x the upfront cost and expense. Many of the costs involved to date are non-recurring when you dig into it.
The combined companies now have an acreage position that could never be acquired in the Permian along with a technical team to develop it. No guarantees of course but once RDMP has officially merged with XBOR I think you will see plenty of commitment to the acreage position in the form of fresh available capital. Nothing was ever going to be committed until the merger was official or effective and rightfully so.