Reported on today, two mining exploration companies, Bonanza Oil & Gas and Black Pearl makes agreement to coalesce in becoming a company to increase result of mine exploration.

As a result of the merger, Black Pearl Energy, Inc. merged into a wholly owned subsidiary of Bonanza Oil & Gas, Inc. with the wholly owned subsidiary being the surviving entity. Black Pearl’s assets consist of rights to two properties in West Texas. The first is Bourland Field in Ector County, Texas and the second is the Good North Prospect in Borden and Howard Counties, Texas.

Bill Wiseman, President and CEO, explained that, “The Company is very excited about these properties because they exactly fit our strategic plan: production acquisition, increased PUD value and continuous drilling for reserves, which we believe will add value for our stockholders. In the current market, these types of properties are difficult to find, and the transaction continues the expansion of our relationship with great operators, Westerly Exploration and Texas Crude.”