KFG Operations Update
NATCHEZ, Miss., July 31, 2014 /CNW/ --
LaGrange Field, Adams Co., MS
KFG Resources Ltd. President, Robert A. Kadane, reported that KFG's wholly-owned subsidiary, KFG Petroleum Corporation, along with its partners, has completed the Craig #3 well in the Second Wilcox formation at 4,375'. The well is currently pumping 90 BOPD with 15 BWPD. KFG has a 10% working interest in the well, reverting to a 21.3% interest at payout. The well is in a separate reservoir from the Craig #1 and #2 wells and sets up an offset location. Total lease production is currently 240 BOPD.
Mantua Field, Adams Co., MS
A salt water disposal permit has been issued for the Barnum #2 well and completion operations have begun. KFG has a 9% working interest in the well, reverting to a 20.5% interest after payout.
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 Ltd.For further information: Robert A. Kadane, President (720) 456-9450, http://www.kfgresources.com