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Bonanza purchases working nterest in the Bourland Field


Published Oct 10, 2008
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Bonanza reports Westerly exploration strategic alliance

Bonanza Oil and Gas, Inc., a Nevada Corporation and an independent oil and gas company, reports the purchase of working interest in the Bourland Field in Ector County, Texas.

The Bourland Field consists of a 960 acre unit with 8 producing wells from the San Andres formation at 4400’, known as the Edwards Unit. The unit currently produces 13 BOPD.

There are 9 additional drilling locations which should increase production to approximately 160 BOPD. The Bourland should add a range of 800,000 BO to 1,200,000 BO in reserves.

The Bourland is scheduled to commence drilling in the fourth quarter 2008. Bonanza purchased the property for $750,000, and will retain a 75% working interest in the property.

Tags: Bonanza Oil and Gas



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