2010-04-08-2010-03-02

To acquire 10% WI in 160 acres in Garfield County, OK.

Bonanza Oil and Gas Inc., Houston, (OTCBB: BGOI) plans to acquire a 10% interest in 160 acres in Garfield County, Oklahoma, from an unnamed seller for cash and 15 million shares of restricted stock. Bonanza says the program contains an additional six locations, each containing up to 400,000 barrels of oil and 8 billion cubic feet of gas. Under the terms of the agreement, Bonanza will have an option to purchase an interest in additional acreage.