Bonanza Oil & Gas, Inc.,(OTCBB: BGOI) and an independent oil and gas company, recently publicized that Bonanza has entered agreements to restructure the Company's senior debt. The Company is also in the process of forward splitting its shares and increasing the authorized shares of the Company. The terms of the restructuring have been disclosed in the Form 8-K Current Report filed with the Securities and Exchange Commission on December 4, 2009.
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Mr. Bill Wiseman, President and CEO said, "The Company is very pleased to restructure the senior debt, which, we believe will provide us the needed flexibility to begin to move forward with our original business plan and strategy focused on potentially adding proven properties to the Company." Based in
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