Cross Border Resources Announces Sale of Wolfberry Assets for $2.25M

Cross Border Resources recently entered into a purchase and sale agreement ("PSA") with Big Star Oil and Gas, LLC ("Big Star"). Under the PSA, Big Star paid Cross Border $2.25 million in cash for all of Cross Border's Wolfberry assets located in the Texas counties of Dawson, Howard, Martin and Borden. Additionally, the Company is providing an update on its current operations. "We are placing a greater focus on each of Cross Border's producing properties," said Earl Sebring, the Company's interim President. "We recently re-established production at the Lusk 33#6, which was previously suspended due to mechanical failure and neglect. Additionally, we are addressing problems in the Tom Tom/Tomahawk area, where we have plans to do substantial work."