Jett...the acreage is undeniably attractive. 99% of the leases are perpetual so there is no lease clock ticking and nothing held by production. The good news/bad news is that this acreage position has never had an Exxon type budget to develop. Bad news in that this is always an issue for small companies but good news in that the wells that would've been drilled 3-5 years ago and producing 50-100 barrels a day are now coming on at more than 1,000 day in the exact same fields.
The acreage is and has been coveted because of successful development on all sides by a myriad of operators. In certain respects it is virgin acreage in developed areas.
Why? The previous company was a private partnership and never been under a lease clock so it has had the benefit of existing without being forced to drill. The company's largest shareholder has reshaped the BOD and brings deep pockets to the story
" Alan W. Barksdale, newly appointed Chairman of Cross Border Resources, added, "The reconstituted Board will address over the next few weeks a revised business strategy that will allow for a clear roadmap in order to unlock the value of the Company's assets as well as update shareholders on current operations. Cross Border's newly formed Board of Directors will be fully aligned with shareholders in its efforts to maximize shareholder value and will immediately work to implement a plan that the new directors believe is imperative to unlock the potential of Cross Border's oil and gas assets."
News 
Market Data 
Discover 
