2008-10-20-2008-10-14-2008-10-14

Acquired 75% WI in Bourland Field, 960-acre Edwards Unit, in Ector Co., TX, gaining 13 BOE/d.

Bonanza Oil and Gas Inc., Houston, (OTCBB: BGOI) has acquired a 75% working interest in Bourland Field in Ector County, Texas, from an undisclosed seller for $750,000. The field consists of the 960-acre Edwards unit with eight producing wells from the San Andres formation. Production is 13 barrels of oil per day. There are nine additional drilling locations.