NATCHEZ, Miss., Sept. 14, 2015 /CNW/ -- Robert A. Kadane, President of KFG Resources
Ltd, is pleased to announced a new discovery oil well in
Franklin County,
Mississippi. The Company's subsidiary, KFG Petroleum
Corporation of Natchez, MS,
drilled the Drouet Poole Estate #1 well to a total depth of 6800
and found 10' of McShane Oil sand from 6618' to 6628' Production
casing has been set for a completion attempt. The Company has a 12%
working interest in the well before payout and a 24% working
interest after payout.
In addition the Company is moving in to drill its Second Creek
Prospect in Adams County,
Mississippi. The Stockfelt Unit #1 will be drilled to a
depth of 4600' to test the Third Wilcox Formation. KFG has a 15%
working interest in the well jumping to a 21.5% working interest at
payout. At this writing it is anticipated that two more wells
will be drilled in the program and those projects will be announced
at a later date.
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