CUSIP No. 71646K106
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Item 1(a). Name of Issuer:
Petro Resources Corporation
____________________________________________________________________
Item 1(b). Address of Issuer's Principal Executive Offices:
777 Post Oak Boulevard, Suite 910, Houston, Texas 77056
____________________________________________________________________
Item 2(a). Name of Person Filing:
Bonanza Capital, Ltd.
Bonanza Master Fund, Ltd.
____________________________________________________________________
Item 2(b). Address of Principal Business Office, or if None, Residence:
Bonanza Capital, Ltd.
300 Crescent Court, Suite 250
Dallas, Texas 75201
Bonanza Master Fund, Ltd.
c/o J.D. Clark & Co.
2225 Washington, Suite 400
Ogden, UT 84401
____________________________________________________________________
Item 2(c). Citizenship:
Bonanza Capital, Ltd. - Texas
Bonanza Master Fund, Ltd. - Cayman Islands
____________________________________________________________________
Item 2(d). Title of Class of Securities:
Common Stock ($.01 par value)
____________________________________________________________________
Item 2(e). CUSIP Number:
71646K106
____________________________________________________________________
Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b)
or (c), Check Whether the Person Filing is a:
(a) [_] Broker or dealer registered under Section 15 of the Exchange Act.
(b) [_] Bank as defined in Section 3(a)(6) of the Exchange Act.
(c) [_] Insurance company as defined in Section 3(a)(19) of the Exchange
Act.
(d) [_] Investment company registered under Section 8 of the Investment
Company Act.
(e) [_] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
(f) [_] An employee benefit plan or endowment fund in accordance with
Rule 13d-1(b)(1)(ii)(F);
(g) [_] A parent holding company or control person in accordance with
Rule 13d-1(b)(1)(ii)(G);
(h) [_] A savings association as defined in Section 3(b) of the Federal
Deposit Insurance Act;
(i) [_] A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act;
(j) [_] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
Item 4. Ownership.
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(a) Amount beneficially owned:
Bonanza Capital, Ltd. - 2,000,000
Bonanza Master Fund, Ltd. - 2,000,000
______________________________________________________________________
(b) Percent of class:
Bonanza Capital, Ltd. - 5.16%
Bonanza Master Fund, Ltd. - 5.16%
______________________________________________________________________
(c) Number of shares as to which such person has:
Bonanza Capital, Ltd.:
(i) Sole power to vote or to direct the vote 0
_______________________,
(ii) Shared power to vote or to direct the vote 2,000,000
_____________________,
(iii) Sole power to dispose or to direct the 0
disposition of _____________________,
(iv) Shared power to dispose or to direct the 2,000,000
disposition of _____________________.
Bonanza Master Fund, Ltd.:
(i) Sole power to vote or to direct the vote 0
_______________________,
(ii) Shared power to vote or to direct the vote 2,000,000
_____________________,
(iii) Sole power to dispose or to direct the 0
disposition of _____________________,
(iv) Shared power to dispose or to direct the 2,000,000
disposition of _____________________.
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Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities check the following [ ].
Not applicable
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Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the sale of, such
securities, a statement to that effect should be included in response to this
item and, if such interest relates to more than five percent of the class, such
person should be identified. A listing of the shareholders of an investment
company registered under the Investment Company Act of 1940 or the beneficiaries
of employee benefit plan, pension fund or endowment fund is not required.
Not applicable
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Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company or Control
Person.
If a parent holding company or Control person has filed this schedule,
pursuant to Rule 13d-1(b)(1)(ii)(G), so indicate under Item 3(g) and attach an
exhibit stating the identity and the Item 3 classification of the relevant
subsidiary. If a parent holding company or control person has filed this
schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating
the identification of the relevant subsidiary.
Not applicable
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Item 8. Identification and Classification of Members of the Group.
If a group has filed this schedule pursuant to Sec.240.13d-1(b)(1)(ii)(J),
so indicate under Item 3(j) and attach an exhibit stating the identity and Item
3 classification of each member of the group. If a group has filed this schedule
pursuant to Sec.240.13d-1(c) or Sec.240.13d-1(d), attach an exhibit stating the
identity of each member of the group.
Not applicable
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Item 9. Notice of Dissolution of Group.
Notice of dissolution of a group may be furnished as an exhibit stating the
date of the dissolution and that all further filings with respect to
transactions in the security reported on will be filed, if required, by members
of the group, in their individual capacity. See Item 5.
Not applicable
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Item 10. Certifications.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not
held for the purpose of or with the effect of changing or influencing
the control of the issuer of the securities and were not acquired and
are not held in connection with or as a participant in any transaction
having such purpose or effect.
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