Bonanza Resources Corp., Vancover, (Toronto Venture: BRS) plans to acquire membership interests in Italy-focused AleAnna Energy LLC from privately held, Dallas-based Bluescape Resources Co. LLC for an undisclosed price.

AleAnna Energy owns a membership interest in AleAnna Resources LLC, a privately owned company that holds 11 licenses totaling more than 800,000 acres, nine of which are in the northern Italy Po Valley region and additional two licenses in the oil-rich southern Italy Bradano Basin.

A reserve report prepared by DREAM on the Gallare Field, one of the prospects in the Corte Dei Signori license area, shows remaining recoverable reserves estimated at 10 billion cubic feet.

The AleAnna Energy membership interest in AleAnna Resources includes a 15% working interest, and an additional 20% back-in working interest after payout, and a carry on the cost to drill the first well. The well is scheduled to be drilled in the first quarter of 2011.

Bluescape will be an equity owner in AleAnna Energy along with Bonanza and will provide interim bridge financing to Bonanza if needed to close the deal.

Bonanza Resources (Texas) Inc. president Steve Moore says, “Bonanza is pleased to be working with Bluescape Resources in acquiring AleAnna Energy. Bluescape is a team of experienced energy professionals that have an extensive record of capitalizing on unique, energy-related opportunities, such as this one in Italy where gas prices are currently above $10 per thousand cubic feet.”

The deal is expected to close by the end of October.