("KFG" - TSX-V)
NATCHEZ, MS, Aug. 19 /CNW/ - KFG Resources Ltd. (the "Company" or "KFG")
is pleased to announce that its annual oil and gas reserve data at April 30,
2008 is available at www.sedar.com.
The Company is also pleased to announce its financial results for the
year ended April 30, 2008. KFG Resources Ltd. had consolidated revenues
(audited) for the year ended April 30, 2008 of US$798,214, compared to
US$641,915 for the year ended April 30, 2007, resulting in a net loss from
continuing operations of US$64,051, compared to a net loss of US$622,993 for
the year ended April 30, 2007. The decrease is primarily attributable to the
recovery of a net amount of $179,632 in settlement of a lawsuit. Total assets
at April 30, 2008 were US$2,957,592 compared to US$567,430 at April 30, 2007,
an increase attributable to the equity financing completed during fiscal 2008.
KFG had cash at April 30, 2008 of $2,660,826 and believes these funds are
sufficient to satisfy the obligations existing at year end and its capital
plans through fiscal 2009. The Company had outstanding 42,147,311 common
shares at April 30, 2008.
KFG is listed on the TSX-Venture Exchange under the symbol KFG.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: KFG Resources Ltd., 118 Lower Woodville Road,
Natchez, Mississippi, 39120, Phone: (303) 825-7080, Robert A. Kadane,