KFG Resources acquires permit to drill Barnum #5 well
NATCHEZ, Miss., July 25, 2018 /CNW/ -- KFG Resources Subsidiary, KFG Petroleum Corp. of Natchez, MS has permitted the Barnum #5 well in Adams County, MS. It will be a 6500' test of several Wilcox sands that produce in the immediate area. As of July 1, 2018, KFG's Barnum lease has paid out and the Company's working interest rose from 9% to 22.5% WI and from 6.89% net revenue interest to 16.875 net.
KFG's Craig lease will payout shortly and a news release will be put out when that occurs. Additional projects are now under review with the improved pricing environment.
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: Robert A. Kadane, President, 940/723-7052, http://www.kfgresources.com
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