Bonanza Oil & Gas Announces Update
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Bonanza Oil and Gas, Inc. a Nevada Corporation (OTCBB: BGOI) provided a corporate update on the Company.
The press release is quoted as saying:
The Company is also pleased to announce that the production level of the Jackson Well in the Apclark Field, operated by Westerly Exploration, Inc., appears to be increasing, after the re-fracturing stimulation of that well. Apclark Field is 5 miles East of the Jo Mill Field that has produced over 54,000,000 barrels of oil. Bonanza’s original working interest for Apclark is a PV-10 value, per third party engineering, of $17mm. The Company is also in hopes to exploit its development of the existing PUDS, and thus increase cash flow and value.
Click here to access the entire press release
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