NATCHEZ, Miss., Feb. 12, 2014 /CNW/ - KFG Resources Ltd. President, Robert A. Kadane, reported that KFG's wholly-owned subsidiary, KFG Petroleum Corporation, has run production casing in its Craig #2 well, a 40-acre west offset to its Craig #1 well. The well was drilled to 6,600 feet. Thirteen feet of 2nd Wilcox oil sand was cored at 4,340' and the well is structurally flat with the Craig #1 well, significantly expanding the oil reservoir. The Craig #1 well continues to flow at rates varying between 90 and 100 BOPD. KFG will report when the well is completed and producing. KFG's working interest in the well and project is 10%, reverting to 22% at payout.
KFG is moving in on the Parker #4 well in Adams County, Mississippi. The 6,300' test is offsetting production in the Wilson sand of the Wilcox and will test several zones that have oil shows in the immediate area.
The Company has several projects nearing completion for drilling. Weather delays have restricted KFG's ability to finish working on its deep test in Warren County, 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:
Mr. Robert A. Kadane, President (303) 825-7080