Fayette Field Update
September 03 2010 - 3:09PM
PR Newswire (Canada)
NATCHEZ, Miss., Sept. 3 /CNW/ -- KFG Resources President, Robert A.
Kadane, reported that KFG Resources Ltd.'s wholly-owned subsidiary,
KFG Petroleum Corporation has staked location for a 4100 Foot
Wilcox test, the Spring Hill #6 well, a southwest offset to the
Spring Hill #1 producer. Operations will begin immediately. The
field continues to produce over 100 BOPD to the company. KFG
Petroleum Corporation has approximately 4100 acres of leases in the
area and owns a 100% working interest (79.16 net) in the Spring
Hill wells and in this offset location reverting to a 74.6 working
interest (59.1% net) after payout of all drilling, seismic, land,
exploration, development, taxes, and operating costs - currently
$1.8 million USD. The Company's common shares are listed on the TSX
Venture Exchange, Vancouver, B.C., trading symbol "KFG". For
additional information, please contact Mr. Kadane at(303) 825-7080.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. Robert
A. Kadane, President of KFG Resources Ltd., +1-303-825-7080 Web
Site: http://www.kfgresources.com
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