NATCHEZ, Miss., Jan. 20, 2015 /CNW/ -- Robert A. Kadane,
President of Kfg Resources Ltd, reported today that the Company's
subsidiary, Kfg Petroleum Corporation of Natchez, MS has resumed its Wilcox shallow
drilling program. The Company is moving in on the Wall #1, a 4600"
Wilcox Test to be followed by the
Seale #1, another 4600' Wilcox test. Both wells are wildcats in
Franklin County, MS. Kfg has a 10%
working interest in both wells, and, if successful, jumping to a
21.5% working interest after payout.
Also, the Company is staking location to offset its Barnum #2
well in Adams County, Mississippi,
a 6700' Wilcox test. The Barnum #2 well has already produced 10,000
bbls. And has settled down to a rate of 70 bopd. The Barnum #3 well
will be drilled as weather permits, probably early February. Kfg
Has a 9% working interest in the Barnum lease increasing to 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