Bonanza Oil and Gas, Inc. (Bonanza) is an independent energy company that is engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The Company's production activities are located in the United States. The Company’s crude oil and natural gas properties consist of working interests owned by it in various oil and gas wells and leases located in Texas. As of December 31, 2008, the Company had an interest in five gross oil wells.