RMR Operating, LLC filed a motion in the US Bankruptcy Court for the sale of substantially all its assets on May 2, 2016. The debtor seeks the Court’s approval for the sale of substantially all its assets via a public auction. To qualify as a qualified bidder, interested parties should submit their bids by June 6, 2016. The debtor has scheduled an auction on June 8, 2016. A qualified shall be accompanied by good faith deposit in the amount of at least 10% of the purchase price. Independent Bank may credit bid up to the amount of its allowed secured claim. The sale hearing is scheduled for June 23, 2016.
Cross Border Resources, Inc. an independent natural gas and oil company engaged in the exploration, development, exploitation, and acquisition of natural gas and oil reserves in North America. The Company primarily focuses on the area of the State of New Mexico, principally southeastern New Mexico. As of June 30, 2014, the Company owned over 865,893 gross (approximately 293,843 net) mineral and lease acres in New Mexico. The Companyâs producing oil and natural gas properties are concentrated in the Permian Basin. The Companyâs main area of focus is the Tom Tom/Tomahawk Prospect, where the Company would continue work on the field alongside the execution of its remediation plan. A significant majority of its acreage consists of either owned mineral rights or leases held by production.
CROSS BORDER RESOURCES, INC. 
