NATCHEZ, Miss., Feb. 21, 2020
/CNW/ -- Robert A. Kadane, President
of KFG Resources Ltd. reported today that KFG has learned from
Hillcrest Petroleum, the Operator at West Hazel in Saskatchewan, Canada, that the property has
been put on electricity which will save $10,000 to $12,000
CDN in operating costs/month. The property is
producing 115 BOPD out of 3 wells. A fourth well will be
recompleted in a shallower virgin oil reservoir in the near
future. KFG's WI
In Wilkinson Co., Miss the Company's participation in a wildcat
well is delayed because of high water in the Mississippi
River. The project won't be drillable until after the high
water mark in May 2020. So KFJ is considering it a project to be
drilled in the late summer of 2020.
In Adam, County, MS on the Company's Barnum Lease, the #4 well
will be recompleted in a shallower zone as soon as weather
permits. KFG owns a 22.5% W.I. (16.9% NRI) in that well.
The Company is actively looking for new projects in North Texas.
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.