Bonanza Resources Corporation

Bonanza Resources Corporation

May 11, 2006 12:41 ET

Bonanza Announces Texanna Coalbed Methane Project, Eastern Oklahoma Successfully Brings Hammett #1-28 On Line

VACOUVER, BRITISH COLUMBIA--(CCNMatthews - May 11, 2006) - Bonanza Resources Corporation (TSX VENTURE:BRS)(PINK SHEETS:BRSUF)(FWB:B4G) ("Bonanza" or "the Company") is pleased to announce that the Company has been notified by Concorde Resources that the frac on the Hammett #1-28 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 over a 24 hour period at a rate of 187,000 cubic feet of gas a day on a 12/64th choke with 225 psi flowing pressure. The absolute open flow calculation is 800,000 cubic feet of gas per day. President Byron Coulthard said, "We are very pleased with the results of the frac on the Hammett #1-28 well and as a result intend to frac all of the wells drilled to date in this project. The Company expected the well to produce at a rate of 50,000 mcf per day to be economically viable, so this substantial increase in flow is a very pleasant surprise." Concorde Resources is planning to frac the Newton #1 well in the near future and the results from that well will be announced as soon as possible.

Texas and Oklahoma continue to experience heavy thunderstorms and tornados which have caused delays in exploration, drilling and completion. The company expects normal weather conditions to return shortly so work can be resumed.

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.


Byron Coulthard, President/CEO

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