Bonanza Oil & Gas, Inc.(fka BGOI)

[OAKTRADES]

Also looks like its getting pumped. Ride it up dont get hold holding the bag.

Quoted:

BGOI could be a huge bounce play!! Last month BGOI was at 7 cents. This means if BGOI was to ever test those highs again the gains would be easily over 500% from the current price!!

Levels right now are dirt cheap compared to then.

Especially with all the promising PRs being released by the Company recently.

BGOI could soar in the short term as oil demand creeps up.

According to the Energy Department, total U.S. fuel demand, averaged over the past four weeks, rose 219,000 barrels to 19.3 million barrels a day! The total has increased for four consecutive weeks!

Merrill Lynch`s oil analysts say oil will rise above $100 a barrel next year!

Last December Reuters reported that U.S. investment bank Goldman Sachs expects oil prices to rise to an average $90 a barrel in 2010, before increasing to $110 in 2011!

BGOI holds assets ranging from current producing properties, wholly owned prospects, to developing working interests in Proven Undeveloped (puds) properties.

The "puds" are a primary goal of BGOI -- to capture and exploit them.

As these "puds" are acquired, assembled, and developed, BGOI`s reserves will be increased accordingly.

BGOI has 5 assets which may be read about here: http://www.bonanzaog.com/assets

One very promising aspect is the Apclark Field. Apclark Field is 5 miles East of the Jo Mill Field and has produced over 54 million barrels of oil!!

This is 6700 Acres encompassing 14 horizontal and 6 vertical PUD locations with superb production history.

BGOI estimates that its actual reserves of Apclark Field Zones for both Spraberry and Worlfcamp may exceed $34mm!

Just last week BGOI announced that the production level of the Jackson Well, in the past couple of months, has increased by approximately 50% after performing re-fracturing stimulation of the well.

The Jackson well is in the Apclark Field, Borden County, Texas, and is operated by Westerly Exploration, Inc.

BGOI fundamentals look strong and current levels make it all the more attractive.

The company has even managed to restructure some of their senior debt.

BGOI President and CEO Bill Wiseman stated, "The Company is very pleased the restructure of the senior debt is completed, which allows the Company to clean up its balance sheet and provide flexibility for the Company to commence implementing our proposed original business plan and strategy, by developing PUDS, and adding proven properties to the Company, and, in turn, hopefully adding shareholder value."

BGOI is currently evaluating other asset properties that may be purchased and/or merged into the Company.

BGOI has also engaged various operators and partners in the West Texas Permian and South Texas salt domes.

These operators, some of which are in the oil & gas hall of fame, have founded one hundred commercially successful producing fields in their lifetime!

More information on BGOI is available at: http://www.bonanzaog.com Always do your own research and consult with your own financial professional.