Trading Symbol: KFG
TSX Venture Exchange
NATCHEZ, MS, Dec. 3 /CNW/ - Mr. Robert A. Kadane, President of KFG
Resources Ltd., announced today that the Company's subsidiary, KFG Petroleum
Corporation, has entered into a contract to conduct a 14.3 square mile 3-D
seismic survey at its Fayette Field prospect in Jefferson County, Mississippi.
The survey will include permitting, surveying, shooting, processing and
interpretation. Mr. Kadane noted that the permitting process will start
immediately and that the Company expects that the survey will be completed and
evaluated by April, 2008. If the results of the survey are favorable, the
Company will then participate in the drilling of a 10,000 foot test well
during the second quarter of 2008. The Company has approximately an 80 percent
working interest in the Fayette prospect.
The Company's common shares are listed on the TSX Venture Exchange,
Vancouver, B.C., trading symbol "KFG". For additional information, please
contact Mr. Robert A. Kadane, President, at (303) 825-7080.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release."
"James F. Gilbert"
James F. Gilbert, Secretary
This press release contains "forward-looking information" that is based
on the Company's current expectations, estimates, forecasts and projections.
This forward-looking information includes, among other things, statements with
respect to the Company's plans, outlook, business strategy and exploration and
development of the Company's properties. The words "may", "would", "could",
"should", "will", "likely", "expect," "anticipate," "intend", "estimate",
"plan", "forecast", "project" and "believe" or other similar words and phrases
are intended to identify forward-looking information.
Forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause the Company's actual results,
level of activity, performance or achievements to be materially different from
those expressed or implied by such forward-looking information. Such factors
include, but are not limited to: the ability to raise sufficient capital to
fund exploration and development; the quantity of and future net revenues from
the Company's reserves; oil and natural gas production levels; commodity
prices, foreign currency exchange rates and interest rates; capital
expenditure programs and other expenditures; supply and demand for oil and
natural gas; schedules and timing of certain projects and the Company's
strategy for growth; competitive conditions; the Company's future operating
and financial results; and treatment under governmental and other regulatory
regimes and tax, environmental and other laws.
This list is not exhaustive of the factors that may affect our
forward-looking information. These and other factors should be considered
carefully and readers should not place undue reliance on such forward-looking
information. The Company disclaims any intention or obligation to update or
revise forward-looking information, whether as a result of new information,
future events or otherwise.
For further information:
For further information: Robert A. Kadane, President (303) 825-7080