NATCHEZ, Miss., Sept. 14, 2015 /CNW/ -- Robert A. Kadane, President of KFG Resources Ltd, is pleased to announced a new discovery oil well in Franklin County, Mississippi. The Company's subsidiary, KFG Petroleum Corporation of Natchez, MS, drilled the Drouet Poole Estate #1 well to a total depth of 6800 and found 10' of McShane Oil sand from 6618' to 6628' Production casing has been set for a completion attempt. The Company has a 12% working interest in the well before payout and a 24% working interest after payout.
In addition the Company is moving in to drill its Second Creek Prospect in Adams County, Mississippi. The Stockfelt Unit #1 will be drilled to a depth of 4600' to test the Third Wilcox Formation. KFG has a 15% working interest in the well jumping to a 21.5% working interest at payout. At this writing it is anticipated that two more wells will be drilled in the program and those projects will be announced at a later date.
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. Kaduna, President, (303) 825-7081