Red Mountain Resources Provides Operations Update
15 April 2013 - 11:53PM
Marketwired
DALLAS, TX--(Marketwired - April
15, 2013) - Red Mountain Resources, Inc. (OTCQB:
RDMP) (the "Company" or "RMR"), a Dallas-based oil and gas
exploration and production company, is providing an operations
update for its subsidiaries, Cross Border Resources, Inc. (OTCQB:
XBOR) ( "Cross Border"), of which RMR owns approximately 81%, and
RMR's wholly-owned subsidiaries Black Rock Capital, Inc. and RMR
Operating, LLC.
2013 Capital Expenditure
Program
RMR
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Net Capex ($MM)
Prospect Projects*
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Madera 24-3H (33%WI)Madera 25-2H (30% $ 4.6
Madera WI)Madera 25-1 SWD (25% WI)
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$ 1.6
Cowden Cowden F (100% WI)Cowden D (100% WI)
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CROSS BORDER
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Net Capex ($MM)
Prospect Projects*
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Workover Program10 wells and Infrastructure $2.0
Tom Tom (75% average WI)
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Grave Digger 4H (6% WI)Grave Digger 5H (6%
WI)Lusk 34 1H (29% WI)Lusk 34 2H (29% WI)Roo
22 1 (3% WI)Bradley 30 4H (4% WI)KSI 22 2H
(2% WI)Zircon 2 DA 1H (13% WI)Delhi B St 4
(6% WI)Grave Digger 6H (6% WI)Grave Digger $5.7
Non-operated 7H (6% WI)Horseshoe St 1 (3% WI)
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* Working Interest subject to change
The following chart provides a well-by-well update of activity
for RMR and Cross Border:
RMR
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WORKING STATUS
WELL NAME COUNTY OPERATOR WELL TYPE FORMATION INTEREST
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Drilled.
Completion in
Madera 24 RMR Brushy progress.
Fed 3H Lea, NM Operating Horizontal Canyon 32%
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SWD conversion
completed.Surf
ace facilities
under
Madera 25 RMR Cherry construction.
Fed 1 SWD Lea, NM Operating Disposal Canyon 25%
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CROSS BORDER
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WORKING STATUS
WELL NAME COUNTY OPERATOR WELL TYPE FORMATION INTEREST
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Commence
operations by
04/22/13.
Includes 10
well workover
program and
area wide
remediation
plan(75% WI is
the field
Tom Tom Chavez, Cross Vertical San average)
Area NM Border Workovers Andres 75%
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Drilled and
Completed.
Awaiting
flowback
Lusk 34 Bone results
Fed 1H Eddy, NM Apache Horizontal Springs 29%
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Drilled and
Completed.
Awaiting
flowback
Lusk 34 Bone results
Fed 2H Eddy, NM Apache Horizontal Springs 29%
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Drilled.
Zircon 2 Completion in
DA State Bone progress
1H Eddy, NM Mewbourne Horizontal Springs 13%
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Drilled and
Completed.
Awaiting
Bradley 30 flowback
Fed Com Bone results
4H Eddy, NM Mewbourne Horizontal Springs 6%
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Drilled and
completed.
First
production
Grave January 2013
Digger 4H Eddy, NM Concho Horizontal Yeso 6%
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Drilled and
completed.
First
production
Grave January 2013
Digger 5H Eddy, NM Concho Horizontal Yeso 6%
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AFE signed
Grave 01/08/2013
Digger 6H Eddy, NM Concho Horizontal Yeso 6%
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AFE signed
Grave 01/08/2013
Digger 7H Eddy, NM Concho Horizontal Yeso 6%
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Drilled and
Completed.
Queen Awaiting
Grayburg flowback
Delhi B San results
State 4 Eddy, NM Alamo Vertical Andres 6%
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Horseshoe
30 State Drilling
1 Eddy, NM Lime Rock Vertical Yeso 3%
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AFE signed
Roo 22 4/4/2013
State 9 Eddy, NM Oxy Vertical Yeso 3%
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AFE signed
Roo 22 4/4/2013
State 10 Eddy, NM Oxy Vertical Yeso 3%
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Drilled.
Completion in
KSI 22 Fed Bone progress.
2H Lea, NM Devon Horizontal Springs 2%
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About Red Mountain
Resources
Information about Red Mountain Resources is available on its
website, www.redmountainresources.com.
Forward-Looking
Statements
This news release contains forward-looking statements that are
not historical facts and are subject to risks and uncertainties.
Forward-looking statements are based on current facts and analyses
and other information that are based on forecasts of future
results, estimates of amounts not yet determined, and assumptions
of management. Forward-looking statements are generally, but not
always, identified by the words "expects", "plans", "anticipates",
"believes", "intends", "estimates", "projects", "aims",
"potential", "goal", "objective", "prospective", and similar
expressions or that events or conditions "will", "would", "may",
"can", "could" or "should" occur. Information concerning oil or
natural gas reserve estimates may also be deemed to be
forward-looking statements, as it constitutes a prediction of what
might be found to be present when and if a project is actually
developed. Actual results may differ materially from those
currently anticipated due to a number of factors beyond the
reasonable control of the Company. It is important to note that
actual outcomes and the Company's actual results could differ
materially from those in such forward-looking statements. Factors
that could cause actual results to differ materially include
misinterpretation of data, inaccurate estimates of oil and natural
gas reserves, the uncertainty of the requirements demanded by
environmental agencies, the Company's ability to raise financing
for operations, breach by parties with whom the Company has
contracted, inability to maintain qualified employees or
consultants because of compensation or other issues, competition
for equipment, inability to obtain drilling permits, potential
delays or obstacles in drilling operations and interpreting data,
the likelihood that no commercial quantities of oil or gas are
found or recoverable, and our ability to participate in the
exploration of, and successful completion of development programs
on all aforementioned prospects and leases. Additional information
risks for the Company can be found in the Company's filings with
the U.S. Securities and Exchange Commission.
The following files are available
for download:
Contact informationStephen EvansRed Mountain Resources,
Inc.214.871.0400stephen@redmountainresources.com
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