KFG Resources Ltd Fayette Field Update
NATCHEZ, Miss., Sept. 10, 2012 /CNW/ - Mr. Robert A. Kadane, President of KFG Resources, reported today that the Company's subsidiary, KFG Petroleum Corporation of Natchez, MS, has staked two locations at the Fayette Field, Jefferson County, Mississippi. The Smith 26-2 offsetting the 26-1, a Stewart B producer, and, the Smith 10-1, a wildcat south of Spring Hill. Both tests are shallow Wilcox tests to 4200'. KFG owns a 100% working interest in both wells til payout reverting to a 74.9% working interest after payout.
Adams County, Mississippi
KFG has assembled a 300 acre lease block within the field limits of the Carthage Point Field and plans to drill a 6000' Wilcox test to evaluate three oil sands producing in the area. The Company has a 7% working interest before payout reverting to a 19% working interest after payout. This project, known as the KFG MacNeil #1, will be drilled after the two wells at Fayette.
The Company's common shares are listed on the TSX Venture Exchange, Vancouver, B. C., trading symbol "KFG".
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
SOURCE: KFG Resources LtdFor further information:
Mr. Robert A. Kadane, President, +1 (303) 825-7080