Trading Symbol: KFG
NATCHEZ, MS, June 24 /CNW/ - KFG Resources Ltd. reported today that the
Company's subsidiary, KFG Petroleum Corporation, Natchez, Mississippi, has
completed all field work of the Company's 3D seismic survey of the Company's
leases covering approximately 14.3 square miles in the Fayette Field area,
Jefferson County, Mississippi. Processing and interpretation of the survey is
expected to take from four to six weeks and the Company anticipates that the
analysis of the field work will be completed in mid-July, 2008. If the results
of the survey are favorable, the Company will then participate in the drilling
of a 10,000 test well during the late third quarter or early fourth quarter of
2008. The Company has approximately an eighty percent working interest in the
Fayette Field prospect.
Mr. Robert A. Kadane, President of the Company, also reported that the
Company is preparing to drill a 6,100 foot Wilcox test well in Avoyelles
Parish, Louisiana, on a 640 acre lease block located in Section 35 and 36, T4N
R4E. KFG Petroleum will act as operator of the well, if successful, and retain
a 21% working interest (15.75% net working interest) in the well. The lease
block carries a 25% royalty interest. If successful, and after payout, the
Company's interest will increase to 28.25% working interest (21.1875% net
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 release.
"James F. Gilbert"
James F. Gilbert,
For further information:
For further information: Mr. Robert A. Kadane, President, (303)