Cross Border Resources $XBOR
Cross Border Resources, Inc. is an oil and gas exploration company. As of December 31, 2011, the Company owned over 868,000 gross (approximately 295,000 net) mineral and lease acres in New Mexico and Texas. Approximately 26,000 of these net acres exist within the Permian Basin. Its acreage is focused on its prospective Bone Spring acreage located in the heart of the 1st and 2nd Bone Spring play. This play encompasses approximately 4,390 square miles across both New Mexico and Texas. The Company owns varying, non-operated working interests in both Eddy and Lea Counties, New Mexico, along with its working interest partners that include Cimarex, Apache, and Mewbourne. During the year ended December 31, 2011, the Company acquired non-operated working interests, ranging from 10% to 20%, in approximately 2,597 gross (308 net) acres in the Wolfberry trend, located in Dawson, Borden and Howard counties, Texas. On January 3, 2011, it completed the acquisition of Pure Energy Group, Inc.
CEO – Alan W. Barksdale
Alan Barksdale was named Chairman of the Board for Cross Border Resources effective May 7, 2012. Mr. Barksdale been Red Mountain Resources’ President, Chief Executive Officer and a director since June 2011 and served as their Interim Acting Chief Financial Officer from June 2011 to August 2011. Mr. Barksdale has also served as President of Black Rock since its inception. Mr. Barksdale has also been the owner and president of the StoneStreet Group (“StoneStreet”) since 2008. Mr. Barksdale formed StoneStreet to provide advisory and management services and pursue merchant banking activities. At StoneStreet, Mr. Barksdale oversees the firm’s capital investments, manages its subsidiaries and serves as the senior advisor to StoneStreet’s clients.
Director – Richard F. LaRoche Jr.
Mr. LaRoche served 27 years with National HealthCare Corporation (“NHC”) as Secretary and General Counsel and 14 years as Senior Vice President, retiring from these positions in May 2002. He has served as a Board member since 2002. Mr. LaRoche serves as a director of Lodge Manufacturing Company and Pure (both privately held). He also served on the boards of National Health Investors, Inc. from 1991 through 2008, National Health Realty, Inc. from 1998 through 2007 and Trinsic, Inc. from 2004 through 2006. He serves on NHC’s Audit Committee, Nominating and Corporate Governance Committee and Compensation Committee.
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