August 25, 2008

Bonanza Oil and Gas Appoints New CFO

Bonanza Oil and Gas has appointed Wade Stubblefield as senior vice president and CFO, replacing Ran Furman, who is resigning to pursue other interests.

Mr Stubblefield has over 20 years of finance and accounting experience. He began his career in public accounting at Arthur Anderson and has subsequently held controllership and other senior finance positions in companies ranging in size from small-cap oil and gas exploration and production companies to multi-billion dollar NYSE-listed enterprises.

Bill Wiseman, chairman and CEO of Bonanza Oil and Gas, said: "Wade brings a broad-based perspective to our financial operations and has the requisite experience and technical ability to not only assist us as we execute on our near-term business plan, but is equipped to handle our growing finance and accounting needs as we rapidly grow our business."