EXHIBIT 10.1


                         BONANZA RESOURCES (TEXAS), INC.
                         6200 VIRGINIA PARKWAY, STE. 200
                               MCKINNEY, TX 75071
________________________________________________________________________________


May 28, 2009

Morgan Creek Energy Corp.
5050 Quorum Drive, Suite 700
Dallas, Texas, USA 75254

ATTENTION: PETER WILSON

Dear Sirs:

                  Re:    Option  and  Purchase  Agreement for the North Fork 3-D
                         Prospect  Sections  6, 7, 8, 9, 16, 17, 18, 19, 20, 21,
                         28, 29, 30, 31, 32 & 33 1N-24ECM  Sections:  1,11,  12,
                         13, 14, 23,  24,  25, 25, 26, 35 & 36  1N-23ECM  Beaver
                         County, Oklahoma (the "Property")
                  ______________________________________________________________

                  This letter sets forth the agreement (the "Agreement") between
Bonanza  Resources  (Texas),  Inc.  ("Bonanza")  and Morgan  Creek  Energy Corp.
("Morgan  Creek")  whereby  Bonanza  shall  grant an option  to Morgan  Creek to
purchase a percentage of Bonanza's  eighty-five (85) percent leasehold  interest
(the  "Bonanza  Interest")  in and to the Property on the terms set forth below.
The Bonanza Interest is held by Bonanza  pursuant to a letter agreement  between
Bonanza,  Ryan Petroleum,  LLC and Radiant  Energy,  LC, dated February 25, 2008
(the "Original Agreement"),  a copy of which is attached as Schedule "A" to this
Agreement.

1.       In consideration for the payment by Morgan Creek to Bonanza,  within 60
         days of the  date  of  this  Agreement,  of the  non-refundable  sum of
         US$150,000 (the "Cash Consideration"),  Bonanza hereby grants to Morgan
         Creek an option,  having an  exercise  period of one year (the  "Option
         Period") to purchase sixty (60) percent (the "Partial Interest") of the
         Bonanza Interest (the "Option").

2.       In the event that Morgan Creek does not pay the Cash  Consideration  to
         Bonanza within 60 days of the date of this  Agreement,  the Option will
         terminate and this Agreement will cease to be of any force or effect.

3.       During the Option  Period,  Morgan  Creek  shall  assume that amount of
         Bonanza's  rights,  title,  interest and obligations under the Original
         Agreement as is proportionate to the Partial Interest.

4.       In order to exercise the Option,  Morgan Creek must incur  US$2,400,000
         in   exploration   and   drilling    expenditures   (the   "Exploration
         Expenditures") on the Property within the Option Period.

5.       In the event that Morgan Creek does not  exercise  the Option,  Bonanza
         shall retain the Cash  Consideration  as liquidated  damages for Morgan
         Creek's failure to incur the Exploration Expenditures.

6.       While  this  Agreement  constitutes  a binding  agreement  between  the


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         parties for the option and purchase of the Partial Interest,  it is the
         intention of the parties that this  agreement  shall be superseded by a
         definitive  agreement  within  sixty  (60)  days  of the  date  of this
         Agreement (the "Final Agreement"). Upon the execution by the parties of
         the Final Agreement,  the Final Agreement shall govern the relationship
         between  the parties  with  respect to the  Partial  Interest  and this
         Agreement will cease to be of any force or effect.

7.       This Agreement shall be interpreted and governed in accordance with the
         laws  of the  Province  of  British  Columbia  and the  laws of  Canada
         applicable therein.

8.       This  Agreement  shall enure to the benefit of and be binding  upon the
         parties hereto and their respective heirs,  executors,  administrators,
         successors and permitted assigns.

9.       This  Agreement  may be executed in  counterparts,  each of which shall
         constitute an original and all of which taken together shall constitute
         one and the same instrument.

BONANZA RESOURCES (TEXAS), INC.


Name:   J. Robby Robson
Title:  President and Chief Executive Officer


AGREED TO AND ACCEPTED THIS ____ DAY OF
MAY, 2009 BY:

MORGAN CREEK ENERGY CORP.


Name:   Peter Wilson
Title:  President and Chief Executive Officer




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                                  SCHEDULE "A"

                               ORIGINAL AGREEMENT