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Bonanza Oil and Gas Inc. Appoints New Chief Financial Officer

Posted on: Friday, 22 August 2008, 12:00 CDT

Bonanza Oil and Gas, Inc. (OTCBB:BGOI), a Nevada Corporation and an independent oil and gas company, is pleased to announce the hiring of Mr. G. Wade Stubblefield as Senior Vice President and Chief Financial Officer effective August 15, 2008. Mr. Stubblefield replaces Mr. Ran Furman who is resigning to pursue other interests.

Mr. Stubblefield has over 20 years of finance and accounting experience. Mr. Stubblefield began his career in public accounting at Arthur Anderson LLP and has subsequently held controllership and other senior finance positions in companies ranging in size from small-cap oil and gas exploration and production companies to multi-billion dollar NYSE-listed enterprises. Mr. Stubblefield holds a Bachelor of Business Administration degree with a concentration in Accounting, from Texas A&M University, awarded in 1988. He is a Certified Public Accountant.

"Wade brings a broad-based perspective to our financial operations and has the requisite experience and technical ability to not only assist us as we execute on our near-term business plan, but is equipped to handle our growing finance and accounting needs as we rapidly grow our business," stated Mr. Bill Wiseman, Bonanza's Chairman and Chief Executive Officer.

"We want to thank Ran for his valuable contributions during the initial formation and start-up phase of the Company and wish him well in all his future endeavors," stated Mr. Robert Teague, Bonanza's Chief Operating Officer.

About Bonanza Oil and Gas, Inc.

Based in Houston, TX, Bonanza Oil and Gas, Inc. is focused on creating shareholder value by optimizing the complimentary strategies of acquiring producing properties and capturing and exploiting interests in proven undeveloped reserves.

About Viewpoint Securities, LLC

Viewpoint Securities, LLC is the financial advisor to Bonanza Oil and Gas, Inc. Viewpoint provides investment banking and merchant banking services to emerging companies within the oil and gas, mining and other natural resources sectors. Viewpoint's investment banking specialists are focused on delivering creative corporate finance solutions to fit the specialized needs of our clients. The group is headquartered in La Jolla, California. For more information please contact Viewpoint at (858) 480-2800 or by email at info@vpsecurities.com. For more information go to: www.vpsecurities.com

Safe Harbor Statement

Some of the statements made by the Company in this press release are forward-looking in nature. Actual results may differ materially from those projected in forward-looking statements. The Company believes that its primary risk factors include, but are not limited to: production variances from expectations, volatility of product prices, inability to raise sufficient capital to fund its operations, environmental risks, competition, government regulation, and the ability of the Company to execute its business strategy, among others. Additional information concerning these and other important factors can be found within the Company's filings with the Securities and Exchange Commission. Statements in this press release should be evaluated in light of these important factors.

Source: Business Wire

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