OPERATIONS UPDATE: KFG Resources in Concordia Parish, Louisiana and Fayette Field, Jefferson County, Mississippi
March 24 2012 - 11:55AM
PR Newswire (Canada)
NATCHEZ, Miss., March 26, 2012 /CNW/ - Concordia Parish,
LouisianaKFG Resources President Robert A. Kadane reported that
KFG's wholly-owned subsidiary, KFG Petroleum Corporation, has run
production casing to 6000' to test the Artman Sand of the Wilcox
formation. Details will be provided after the well has been put on
production. The Company has a 1500 acre lease adjacent to the well.
KFG will retain a 12.5% working interest in the project and back in
after payout for an additional 20% working interest. Fayette Field,
Jefferson County, MississippiLocation has been made for the Spring
Hill #9 well, south of the #7 well, and the rig is moving in. The
4000' test should be down and evaluated by the weekend. KFG holds a
100% working interest (79.16% net) until payout of all costs
incurred to date in the field. At payout the Company's interest in
the field reverts to a 74.6% working interest (59.1% net). 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. SOURCE KFG Resources KFG Resources
CONTACT: Robert A. Kadane, President,
+1-303-825-7080http://www.kfgresources.com
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