NATCHEZ, Miss., Dec. 2, 2015 /CNW/ -- KFG Resources Ltd's President, Robert A. Kadane, reported that the Company's subsidiary, KFG Petroleum Corporation, and partners have put the Barnum#4 well in Adams County, MS on production. The well was perforated in the Armstrong Sand of the Wilcox formation from 6784 to 6786 feet. On November 30th the well started pumping at 9am and by noon oil was at the surface. By 4 pm the well was producing at a 60 bopd rate and by 10 pm at a 120 bopd rate. The pumping unit was slowed down at 2 am to an 80bopd rate and will be produced at that rate until it stabilizes. KFG has a 9.19% working interest in the well increasing to a 21.6% working interest if the project pays out. The #4 well sets up another location that will probably be drilled in the spring of 2016.
The Drouet Poole Estate #1 well continues to produce 60 barrels of oil and 30 barrels of water per day. Completion operations are underway on the Stockfelt #1 well.
The Mississippi River has risen unexpectedly delaying the Company's 7200 test at N. Fairfview in Adams County, Mississippi. At this writing, KFG has three development wells to be drilled in the spring and summer of 2016.
The Company's common shares are listed on the TSX Venture Exchange, Vancouver, B.C.
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, (303) 825-7081, http://www.kfgresources.com