Bonanza Resources Hits Target Coalbed Methane Formations.VANCOUVER, 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") 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 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) |
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