XBOR has dropped to about $2.00. It is still above its previous low as DRLY.
Cross Border announced some activity on March 10:
"...The Tres Amigos Project consists of approximately 825 acres, targeting the Wolfberry Trend in both Dawson and Borden counties, Texas, with 11 possible drilling locations based on 80 acre spacing units. Cross Border will participate in the initial three wells on 1/3 for a 1/4 promoted basis with the remaining 8 wells to be drilled to each working interest partners' proportionate ownership. The targeted depth for each well is 10,825' focusing on the Wolfberry Trend which encompasses the Sprayberry/Dean, Wolfcamp, Canyon, Strawn, and Mississippian formation. Drilling of the initial well commenced on March 7, 2011 on the Shortes 6, #1 located in Sec 6, Blk 33, T3N of Borden County, Texas and has already reached a drilling depth of 3,242'. The Company intends to fund these activities from existing cash flow and availability under its senior credit facility...."
The website, xbres.com , is finally up and fairly up to date (Feb)
Imo, worth a look but proceed with care and intensive due diligence, especially on debt and available funds.