KFG's 26-1 Well Completed at Fayette
January 18 2012 - 1:50PM
PR Newswire (Canada)
NATCHEZ, Miss., Jan. 18, 2012 /CNW/ - Fayette Field, Jefferson
County, Mississippi KFG Resources President, Robert A. Kadane,
reported that KFG's wholly-owned subsidiary, KFG Petroleum
Corporation, has opened up a new area within the limits of the old
Fayette Field. Located two miles southwest of Spring Hill, the
Company's 26-1 well has been completed in the Stewart B Sand of the
Wilcox formation at 3900'. Eight feet of oil sand was encountered
and the well was completed pumping 29 BOPD of 41 gravity sweet
crude oil. Production appears to be improving and further updates
will be provided. A virgin reservoir in the 4600' Sand is behind
pipe. A north offset will be drilled in the Spring of 2012. Also,
at Fayettte a complete review of all seismic is being done with all
the new well control. Another shallow Wilcox well due south of
Spring Hill will be drilled in the spring of 2012 to test a new
shallow feature. LouisianaThe Company is waiting for approval of
its salt water disposal well before the Roundtree #1 well can be
produced to its full potential. It is expected by March 1, 2012.
Also, in Louisiana several new projects are being leased for a new
program to start by the summer of 2012. 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. KFG Resources Ltd. CONTACT: CONTACT:
Robert A. Kadane, President of KFG
PetroleumCorporation,+1-303-825-7080
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