Bonanza Announces Texanna Coalbed Methane Project, Eastern Oklahoma Successfully Brings Guy Burton #1 On Line.VACOUVER, British Columbia -- Bonanza Resources Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:BRS BRS - Big Red Switch. This abbreviation is fairly common on-line. )(OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BRSUF)(FWB (Fixed Wireless Broadband) See fixed wireless. :B4G) ("Bonanza" or "the Company") is pleased to announce that the Company has been notified by Concorde Resources that the frac on the Guy Burton #1 at the Texanna Coalbed Methane Project, Eastern Oklahoma has been completed and the well has been connected to the gas sell line. The well was flow tested at a rate of 160,000 cubic feet of gas a day on a 12/64th choke with 200 psi flowing pressure. The well before the frac had over 205 pounds of shut-in pressure and has flow tested up to 50,000 cubic feet of coal bed methane gas per day. President Byron Coulthard said, "With the production being three times greater than expected, it is easy to see that we will want to frac all of the wells in this project. The company ran its economics based upon 50,000 per day so this is a very pleasant surprise." Concorde is planning to frac the McDonald #1, Hammett #1 and the Newton #1 in the near future. 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 The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept resp onsibility for the adequacy or accuracy of this news release. Bonanza Resources Corporation (TSX VENTURE:BRS) (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :BRSUF) (FRANKFURT:B4G) |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion