Red Mountain Resources, Inc. acquired additional 1.85% stake in Cross Border Resources Inc from its two unknown stockholders for $0.51 million.
March 06, 2013 at 10:30 am IST
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Red Mountain Resources, Inc. (OTCPK:RDMP) acquired additional 1.85% stake in Cross Border Resources Inc (OTCPK:XBOR) from its two unknown stockholders for $0.51 million in stock on February 28, 2013. The two stockholders sold an aggregate of 0.30 million shares of Cross Border common stock in exchange for the issuance of 0.60 million shares of Red Mountain Resources common stock.
Red Mountain Resources, Inc. (OTCPK:RDMP) completed the acquisition of additional 1.85% stake in Cross Border Resources Inc (OTCPK:XBOR) from its two unknown stockholders on February 28, 2013.
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. 
