Today on Barchart.com, a leading market data distributor founded in 1934, Cross Border Resources (OTCQX: XBOR) registered a buy rating across 12 of 13 technical indicators used by the site. These indicators provide insight into the short-, medium-, and long-term prospects for equities and commodities.
XBOR is an oil and gas exploration and exploitation company utilizing a non-operated business model focusing on opportunities with proven operators within the Permian Basin. XBOR has more than 800,000 gross (approximately 300,000 net) mineral and lease acres primarily within the state of New Mexico. The Company’s resource assets target various emerging plays including the Wolfberry acreage located in West Texas and the 1st and 2nd Bone Spring, and more conventional plays such as the Abo, Yeso, and San Andres. XBOR currently owns approximately 31,000 net acres within the Permian Basin.
With Barchart.com’s medium- and long-term technical indicators now 100% to the buy side, XBOR represents a compelling opportunity for fast-acting investors. This could be the beginning of the move to the $5.00 price target our analysts put on the stock in early December.
Disclosure: The subject security is a client of RedChip Companies, Inc. RedChip Companies, Inc., employees and affiliates may have positions and affect transactions in the securities or options of the issuers mentioned herein. For full financial disclosures for all RedChip clients, please visit http://www.redchip.com/disclosures.asp?src=rcv.
