KFG Logs Two Oil Sands at Fayette
December 04 2011 - 8:39PM
PR Newswire (Canada)
NATCHEZ, Miss., Dec. 8, 2011 /CNW/ -- Fayette Field, Jefferson
County, Mississippi KFG Resources President, Robert A. Kadane,
reported that KFG's wholly-owned subsidiary, KFG Petroleum
Corporation, is running production casing to 4000' in the Company's
26-1 well about two miles southwest of the Company's Spring Hill
wells. KFG logged and cored two oil zones and will attempt a
completion in the Stewart B sand of the Wilcox formation at a depth
of 3900'. This particular zone is not productive in the Spring Hill
wells but has produced over 4 million barrels of oil in other
sections of the Fayette Field. KFG has a 100% working interest in
the field until payout of all costs--currently about $1,000,000 US.
Production rates will be reported when available. Louisiana A 6000'
test on the Roundtree Lease in Concordia Parish, Louisiana will be
drilled before yearend. Timing depends on the weather. KFG has a
12.5% working interest in the well before payout of all costs and a
29.375% working interest after payout. 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 CONTACT: Robert A. Kadane, President of KFG
Resources, +1-303-825-7080 WebSite: http://www.kfgresources.com
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