NATCHEZ, Miss., Sept. 11, 2018 /CNW/ -- As previously
reported, the Company's Barnum lease, Adams County, MS, paid out in July 2018 and KFG's working interest increased
from 9% to 22.5%. The Barnum #5 location has been staked and
permitted. Currently, the Company is waiting on a drilling
rig which is expected to move into the location as soon as weather
permits. Additionally, the Company's Craig #3 should payout
by the end of September, substantially increasing KFG's working
interest.
Also, KFG has entered into a farmout agreement with Tracer
Operating Company, Graham, Texas
to recomplete 3 shallow gas & oil wells with an option to
recomplete 3 additional wells. These are shallow
recompletions (3600'-4500') in Palo
Pinto and Stephens County,
Texas. Capital is now being raised for this venture.
In addition, the Company is considering a share buy back
proposal. Specifics will be presented to the board at the
Board Meeting on September 28, and
voted on at that time.
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.