NEW YORK, NY -- (Marketwire) -- 10/18/11 -- Cross Border Resources, Inc., (OTCQX: XBOR) has recently been issued a $2.20 price target and rated a 'STRONG BUY' by RedChip Research, to view the full report please visit http://www.redchip.com/files/redchipreports/XBOR_20110906_Initial Report.pdf
Cross Border Resources is an oil and gas exploration and production company utilizing a non-operated business model focusing primarily on opportunities with proven operators. Cross Border works with some of the biggest names in oil and gas, it has partnered with Apache (NYSE: APA), Concho Resources (NYSE: CXO) and Devon Energy (NYSE: DVN) for 30 of their 138 active wells.
Cross Border Resources, Inc. operates within one of the most prolific oil producing regions in the US, the Permian Basin. Due to new technologies in drilling, a renewed interest has been placed on this area. As these technologies (i.e. horizontal drilling) catch on, oil, which was previously unattainable, will now be able to be brought to the surface.
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