NATCHEZ, Miss., Aug. 5, 2015 /CNW/ -- KFG's drilling program is on hold because of high water above flood stage in the Mississippi River which affects large areas of land – sometimes many miles away from the river. This circumstance is unprecedented in the last 75 years. Our program will commence when conditions permit.
Our production is stable and cash flow was positive during the first quarter of our fiscal year ending July 31, 2015. The Company's Barnum #3 well in Adams County, Mississippi has proved to be non-commercial and is producing 10 barrels of oil per day.
As of this date, the Company has 3 new projects and one development well ready to drill. Two additional projects are being assembled. All projects are in Mississippi.
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 (303) 825-7081, http://www.kfgresources.com