Adams County, Mississippi
NATCHEZ,
Miss., April 3, 2014 /CNW/ - KFG Resources Ltd.
President, Robert
A. Kadane, reported that KFG's wholly-owned
subsidiary, KFG Petroleum Corporation, has staked two locations in
the LaGrange Field – one on the Parker Lease (the Parker #5) and
one on the Craig Lease (the Craig #3). Drilling operations should
begin in the next 45 days.
Parker Lease
The combined production from the Parker #2 and Parker #4 wells
is approximately 105 BOPD. The Parker #3 well has just been put on
production in the Wilson Sand at 6,221' and initial production is
20 BOPD. The well will be production-tested for 30 days before
deciding whether or not to add another zone. The Company has a 10%
working interest in the Parker Lease.
Craig Lease
The Craig #1 well has been flowing for five months – averaging
85+ BOPD with 250 psi flowing tubing pressure. The Company has a
10% working interest in the Craig wells, reverting to a 22% working
interest at payout. The #2 Craig well is averaging 40 BOPD.
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.