NATCHEZ, Miss., Nov. 12, 2013 /CNW/ -
Adams County, Mississippi
KFG Resources President, Robert A. Kadane, reported that KFG's wholly-owned subsidiary, KFG Petroleum Corporation, has completed its #1 Craig well in the LaGrange Field, Adams County, Mississippi. The well was perforated in the Second Wilcox Sand at 4,322' and kicked off flowing without stimulation 100 BOPD, no water, flowing tubing pressure 1100 psi. The Company has 300 acres under lease and a development well will be drilled in early 2014. The Company is operator of the well and has a 10% working interest in the well, reverting to a 22% working interest after payout.
Warren County, Mississippi
The Company's #1 Hannah well is being completed in the Second Rodessa Sand at a depth of 11,180'. A progress report will be forthcoming in a couple of weeks.
Franklin County, Mississippi
Several new prospects are in various stages of completion and should be drilled next year.
Concordia Parish, Louisiana
KFG's Moore Prospect is scheduled to be drilled before year-end 2013, weather permitting. It will be a 5,500' Wilcox test.
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
For further information:
Mr. Robert A. Kadane, President,+1-303-825-7080