KFG Resources Ltd. ("KFG" or the "Company") (TSX VENTURE:KFG) reported today
that the Company's Spring Hill L-T #1 well in Fayette County, Mississippi, was
drilled to a depth of 9,900 feet to test the Lower Tuscalossa formation and has
run production casing for a completion attempt as a producing well. Mr. Robert
A. Kadane, President of the Company, stated that core analyses and pressure
tests indicated 28 feet of virgin reservoir from the Massive sand of the Lower
Tuscalossa at 9,712 to 9,740 feet. The L-T #1 well was drilled and will be
operated by the Company's subsidiary, KFG Petroleum Corporation. He further
noted that initial production rates will be announced following completion.


The Company owns 100% of the working interest (79.16% net interest) in the
Spring Hill L.T. #1 well, reverting to a 74.6% (59.1% net) working interest,
after payout to the Company of all costs incurred.
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