Adams County, Mississippi,
LaGrange Field
NATCHEZ,
Miss., Feb. 26, 2014 /CNW/ - KFG Resources Ltd.
President, Robert
A. Kadane, reported that KFG's wholly-owned
subsidiary, KFG Petroleum Corporation, has completed its #2 Craig
well, a 40-acre west offset to its #1 Craig well in the Second
Wilcox Sand at 4,335'; and, it kicked off flowing without
stimulation at 80 BOPD, flowing tubing pressure of 170# on an
11/64" choke. Both wells are producing at a combined rate of 170
BOPD. The Company has 300 acres under lease and additional
development is planned in the early summer of 2014. KFG is operator
of the well and has a 10% working interest, reverting to a 22%
working interest after payout.
Also, in the LaGrange Field, KFG has logged its Parker #4 well,
drilled to a depth of 6,450' and encountered 10' of Wilson oil sand
at 6,242'. Production casing has been set and the rig is moving to
a new location on the Company's Parker lease – designated as the
Parker #3 location. The Company has a 10% working interest in the
Parker lease with no reversion and is operator of the well. It will
be a 6,450' Wilcox test evaluating several
Wilcox oil sands that have produced in
the immediate area.
Warren
County, Mississippi
The Company is preparing to acidize its Hannah #1 well in the
Second Rodessa Sand at 11,180' in mid-March. Production testing
will commence after the acid job.
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.