Natchez Island Field
July 14 2011 - 12:08PM
PR Newswire (Canada)
NATCHEZ, Miss., July 14, 2011 /CNW/ -- Concordia Parish, Louisiana
KFG Resources President Robert A. Kadane reported that KFG's
wholly-owned subsidiary, KFG Petroleum Corporation, has drilled the
Roundtree #1 well to a depth of 6000' and has run production casing
for a completion attempt. Twenty-two feet of oil sand was sidewall
cored in the Nichols sand of the Wilcox formation from 5775' to
5797'. This well will reestablish production in the field. The
drilling rig has moved to another location on the Roundtree acreage
and has started the Roundtree #2 well...also to a TD of 6000'. The
Company has a 12.5% working interest and a 2.5% overriding royalty
in the Roundtree # 1 well and 1500 acre lease block and will back
in after payout for an additional 20% working interest. A
production test next week will evaluate the quality of the oil
reservoir. 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. Robert
A. Kadane, President of KFG Resources, +1-303-825-7080 Web Site:
http://www.kfgresources.com
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