News releaseBonanza Resources Corporation (TSX VENTURE:BRS)(OTCBB:BRSUF)(FWB:B4G) ("Bonanza"
or "the Company") announced today that joint venture partner and operator
Concorde Resources reported that recent well drilling has encountered
primary and secondary target coalbed methane zones at the Texanna Coalbed
Methane ("CBM") Project in MacIntosh County, Eastern Oklahoma.
Wells #3 & 4 (the MacDonald and the Guy Burton wells, respectively) have
been successfully drilled to total depth. Wells #1 & 2 (the Hammett and
the Newton wells, respectively) are currently being completed. Following
this, the completion rig will move on to wells #3 & 4.
President Byron Coulthard said: "We are very encouraged with the drilling
to date, anticipating successful completion of the first two wells.
Bonanza is very excited about the MacDonald well in particular as we have
hit 25 feet of the Booch Sand channel formation and 65 feet of the
Hartshorne Coal & Sands formation. These zones are extremely prolific
within the region and are our main targets. The Company plans to
participate in an additional 20 wells minimum in 2006."
Bonanza Resources Corporation is a professionally managed junior oil and
gas exploration company with an increasing revenue stream. The Company is
currently developing projects in Oklahoma and Texas. Through its
extensive contact base and using its current revenues, Bonanza will
continue to seek out and participate in high potential natural gas drill
programs in North America.
ON BEHALF OF THE BOARD
Byron Coulthard, President/CEO