NATCHEZ, Miss., Dec. 13, 2012 /CNW/ - Mr. Robert A. Kadane, President of KFG Resources Ltd., reported today that the Company's 3D seismic survey, completed in 2008, has been reprocessed including all existing new data from all wells drilled at Fayette since 2009. Several prominent strong leads have been produced on Company acreage, and the next step is to detail the local areas involved – looking for areas where the seismic and geology coincide. The process should be completed in January 2013.
From its initial review of the new data, the Company is anticipating an active drilling program at Fayette during the 2013 calendar year. Production at Fayette continues to average between 120 – 130 barrels of oil per day.
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, +1-303-825-7080