KFG Posts Positive First Quarter for Fiscal Year 2012
November 01 2011 - 7:31PM
PR Newswire (Canada)
NATCHEZ, Miss., Nov. 2, 2011 /CNW/ -- KFG Resources Ltd President,
Robert A. Kadane, reported positive quarterly earnings for the
Company's subsidiary, KFG Petroleum Corporation. For the first
Quarter ended July 31, 2011 oil and gas sales were $1,116,249 US
compared to $442,676 for the corresponding quarter ended July 31,
2010. Net Income for the period was $676,140 or .0135 cents per
share compared to $153,431 or .003 cents per share for the quarter
ended July 31, 2010. Cash Flow from operations for the quarter
ended July 31, 2011 was $638,950 US, or .0127 cents per share
versus a deficit of $178,205 US for the quarter ended July 31,
2010. Total Current Assets were $2,006,624 versus Current
Liabilities of $809,542. There was no Long Term Debt. See Table
Below: Revenue Three Months ended Three Months ended July 31, 2011
July 31, 2010 Oil Sales $1,116,249 $442,676 Net Income $676,140
$151,898 Cash Flow from Operations $638,950 ($178,205) The
Company's main properties are located in Concordia Parish,
Louisiana and Jefferson County, Mississippi. 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. KFG Resources Ltd CONTACT: Robert A. Kadane, President,
+1-303-825-7080
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