NATCHEZ, Miss., Oct. 16, 2013 /CNW/ -
Adams County, Mississippi
Carthage Point Field
Robert A. Kadane, President of KFG Resources Ltd., reported today that the MacNeil #3
well was perforated in the Stewart "B" Sand of the Wilcox formation at 4,392' and is flowing 80 BOPD. The MacNeil #3 well extends
the reservoir 660' north of the MacNeil #2 well. KFG has an 8% working
interest in the lease, reverting to a 20% working interest at payout.
The total production from the lease is 113 BOPD. The prospect contains
The Company's Parker #2 well has been completed for 25 BOPD. The Company
has a 10% working interest in the well and surrounding 160 acres. The
delay between completion and the start of production (2 months) was due
to the need to convert a well for saltwater disposal.
The Company has spudded a new Wilcox test at the LaGrange Field – the Craig #1. It will be a 6,000' Wilcox test. The Company has a 10% working interest in the well reverting to a
22% interest at payout.
Warren County, Mississippi
KFG drilled its #1 Hannah well to 11,350'. Production casing has been
set to 11,350'. 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
For further information:
Mr. Robert A. Kadane, President, (303) 825-7080