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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Celtictrader who wrote (143454)	1/8/2011 7:47:39 AM
From: Ed Ajootian	Respond to of 206326

Celtic, Cross Border Resources (XBOR) -- great call on holding this one, I sold a small amount when it popped over $4 and am trying to decide what to do now. I really like the story here and I believe the stock has the LT potential to go much higher than the current quote but I also believe that it has gotten a bit ahead of its current fundamentals at this point. As an indication of value of XBOR's Bone Spring acreage, Energen (EGN) just paid $900/acre for some Permian Basin acreage in the Bone Spring and Avalon Shale plays. Not sure how reasonable it would be to extrapolate this to Cross Border's Bone Spring acreage since XBOR likely will need to do an equity raise soon to keep their drilling campaign going. I think we will get a clearer picture about the company when they go live with their website, which should be a week from now I believe.