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Bonanza Oil & Gas Announces Acquisition of Black Pearl Energy, Inc.

Posted on: Friday, 18 July 2008, 18:00 CDT

Bonanza Oil and Gas, Inc. (OTCBB:BGOI), a Nevada Corporation and an independent oil and gas company, is pleased to announce the merger between Bonanza Oil and Gas, Inc. and Black Pearl Energy, Inc.

As a result of the merger, Black Pearl Energy, Inc. merged into a wholly owned subsidiary of Bonanza Oil & Gas, Inc. with the wholly owned subsidiary being the surviving entity. Black Pearl's assets consist of rights to two properties in West Texas. The first is Bourland Field in Ector County, Texas and the second is the Good North Prospect in Borden and Howard Counties, Texas.

Bill Wiseman, President and CEO, explained that, "The Company is very excited about these properties because they exactly fit our strategic plan: production acquisition, increased PUD value and continuous drilling for reserves, which we believe will add value for our stockholders. In the current market, these types of properties are difficult to find, and the transaction continues the expansion of our relationship with great operators, Westerly Exploration and Texas Crude."

About Bonanza Oil & Gas, Inc.

Based in Houston, TX, Bonanza Oil and Gas, Inc. holds assets ranging from current producing properties, wholly owned prospects, to developing working interests in Proven Undeveloped (PUDS) properties.

About Viewpoint Securities, LLC

Viewpoint Securities, LLC is the financial advisor for Bonanza Oil & Gas, Inc. Viewpoint provides investment banking and merchant banking services to emerging companies within the oil and gas, mining and other natural resources sectors. The company's investment banking specialists are focused on delivering creative corporate finance solutions to fit the specialized needs of our clients. The group is headquartered in La Jolla, California. For more information you can contact the company at (858) 480-2800 or by email at info@vpsecurities.com. For more information go to: www.vpsecurities.com.

Safe Harbor Statement

Some of the statements made by the Company in this press release are forward-looking in nature. Actual results may differ materially from those projected in forward-looking statements. The Company believes that its primary risk factors include, but are not limited to: production variances from expectations, volatility of product prices, inability to raise sufficient capital to fund its operations, environmental risks, competition, government regulation, and the ability of the Company to execute its business strategy, among others. Additional information concerning these and other important factors can be found within the Company's filings with the Securities and Exchange Commission. Statements in this press release should be evaluated in light of these important factors.

Source: Business Wire

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