LaGrange Field, Adams Co., MS
NATCHEZ,
Miss., June 12, 2014 /CNW/ - KFG Resources Ltd.
President, Robert
A. Kadane, reported that KFG's wholly-owned
subsidiary, KFG Petroleum Corporation, reworked its Parker #2 well
and the lease is now producing 130 BOPD, up from 95 BOPD. The
Parker #5 well was drilled to 6,450' and, due to tight sand
conditions, it was decided not to set production casing.
Also, in the LaGrange Field, the Craig #1 and #2 wells have paid
out and KFG's interest has increased from 10% to 21.5% working
interest. Total production from the Craig wells is currently 120
BOPD. A location has been staked for the Craig #3 well and plans
are to drill it in the near future.
Carthage Point, Adams Co., MS
At Carthage Point Field, the McNeil #2 and #3 wells have just
paid out. KFG's interest will increase from 8% working interest to
21.5% working interest going forward. The two McNeil wells
currently produce a total of 60 to 70 BOPD.
Mantua Field, Adams Co., MS
KFG is moving on location to drill the Barnum #2 well in the
Mantua Field. A 7,700' well will be drilled to test all zones of
the Wilcox formation. KFG has a 9% working
interest in the well, reverting to a 20.5% working interest at
payout.
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.