FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * GRAY EVERETT WILLARD II   2. Issuer Name and Ticker or Trading Symbol CROSS BORDER RESOURCES, INC. [XBOR] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Chief Executive Officer (Last) (First) (Middle) 22610 US HWY 281 N., SUITE 218 3. Date of Earliest Transaction (Month/Day/Year) 05/22/2012 (Street) SAN ANTONIO, TX 78528 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 05/22/2012   S   10,000 D $ 1.69 310,194 (1) I WS Oil & Gas Limited (owned by reporting person) Common Stock 05/22/2012   S   5,700 D $ 1.7025 310,194 (1) I WS Oil & Gas Limited (owned by reporting person) Common Stock 05/22/2012   S   3,163 D $ 1.72 310,194 (1) I WS Oil & Gas Limited (owned by reporting person) Common Stock 05/22/2012   S   77 D $ 1.85 310,194 (1) I WS Oil & Gas Limited (owned by reporting person) Common Stock 05/23/2012   S   32,274 D $ 1.6627 310,194 (1) I WS Oil & Gas Limited (owned by reporting person) Common Stock 05/23/2012   S   1,137 D $ 1.7 310,194 (1) I WS Oil & Gas Limited (owned by reporting person)) Common Stock 05/23/2012   S   107,049 D $ 1.69 310,194 I WS Oil & Gas Limited (owned by reporting person)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
GRAY EVERETT WILLARD II 22610 US HWY 281 N., SUITE 218 SAN ANTONIO, TX 78528			Chief Executive Officer

Signatures

/s/Everett Willard Gray II		05/24/2012
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Number of shares remaining after all sales reported on this Form 4.

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