Bonanza Oil & Gas and its Exploration Strategic Alliance

Bonanza Oil and Gas, Inc, a Nevada Corporation, has just told the press that the strategic alliance between Bonanza Oil and Gas, Inc. and Westerly Exploration, Inc. As a result of the alliance with Westerly, and the merger with Black Pearl Energy, Inc., Bonanza Oil & Gas will develop two additional properties in West Texas. Westerly Exploration will act as the operator in addition to maintaining a working interest.

The first property is the Bourland Field in Ector County, Texas. The Bourland Field, currently operated by Westerly, consists of 8 producing wells from the San Andres Formation at 4,400 feet, known as the Edwards Unit. The Unit has 960 acres that permit Bonanza, along with Westerly, the opportunity to drill an additional 8 wells, of which Bonanza retains a 75% Working Interest. The current drilling schedule is to commence on or before October 1, 2008.

Bill Wiseman, President and CEO, said that The acquisition of these Properties provides current producing wells and additional PUD locations to Bonanza Oil & Gas. Bonanza’s continuous drilling program will increase reserves, revenues, and stock holder’s equity. We are pleased to continue and expand our Strategic Alliance with Westerly Exploration.

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.

Contact:

Bonanza Oil & Gas, Inc., Houston President and CEO Bill Wiseman, 713-333-5808

Fax: 713-333-5928

Source: Bonanza Oil and Gas, Inc.