NATCHEZ, Miss., Oct. 23, 2013 /CNW/ -
Adams County, Mississippi
Robert A. Kadane, President of KFG Resources Ltd., reported today that the Craig #1 well was drilled to a total depth of 6,600' and production casing has been set through the First Wilcox Sand of the Wilcox formation at 4,400'. The well encountered a total oil interval of 21', with a net oil column from 4,318' to 4,332'. KFG has a 10% working interest in the well, reverting to a 22% working interest at payout. Completion operations will begin next week.
Carthage Point Field
The MacNeil #2 and #3 wells are producing a total of 130± BOPD. The Company has an 8% working interest before payout and a 20% working interest after payout. A third well may be drilled if production history warrants.
Warren County, Mississippi
Pipe has been set to 11,350' in this exploratory test. Completion operations have begun. KFG has a 5% working interest in the well, reverting to an 18% working interest at 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:
Mr. Robert A. Kadane, President (303) 825-7080