KFG Resources Ltd Fayette Field Update
September 08 2012 - 4:16AM
PR Newswire (Canada)
NATCHEZ, Miss., Sept. 10, 2012 /CNW/ - Mr. Robert A. Kadane,
President of KFG Resources, reported today that the Company's
subsidiary, KFG Petroleum Corporation of Natchez, MS, has staked
two locations at the Fayette Field, Jefferson County, Mississippi.
The Smith 26-2 offsetting the 26-1, a Stewart B producer, and, the
Smith 10-1, a wildcat south of Spring Hill. Both tests are shallow
Wilcox tests to 4200'. KFG owns a 100% working interest in both
wells til payout reverting to a 74.9% working interest after
payout. Adams County, Mississippi KFG has assembled a 300 acre
lease block within the field limits of the Carthage Point Field and
plans to drill a 6000' Wilcox test to evaluate three oil sands
producing in the area. The Company has a 7% working interest before
payout reverting to a 19% working interest after payout. This
project, known as the KFG MacNeil #1, will be drilled after the two
wells at Fayette. 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: Mr. Robert A. Kadane, President, +1 (303)
825-7080http://www.kfgresources.com
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