KFG KFG Resources Ltd

NATCHEZ, Miss., March 29, 2011 /CNW/ -- NATCHEZ, Miss., March 29, 2011 /CNW/ -- Fayette Field, Jefferson County, Mississippi KFG Resources President Robert A. Kadane reported that KFG's wholly-owned subsidiary, KFG Petroleum Corporation, is moving in April 1, 2011 to drill the Spring Hill #7 well, a south offset to the Spring Hill #5, to a total depth of 4100'. KFG holds a 100% (74.6% net) in the well until payout of all costs incurred to date in the field. At this writing, $1,200,000US remains to be recovered . At payout, the Company's interest in the field reverts to a 74.6% working interest (59.1% net). Concordia Parish, Louisiana The Company has taken a 1500 acre lease in Concordia Parish about 3 miles south of the town of Vidalia, Louisiana. Three 6000' tests will be drilled on the acreage beginning in mid April 2011. The Company will retain a 12.5% working interest in the project and back in after payout for an additional 20% working interest. The wells will be known as The Roundtree #1, #2, and #3. All producing zones in the Wilcox interval will be evaluated. 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

Copyright