NATCHEZ, Miss., June 12, 2014 /CNW/ -- KFG Resources Ltd.
President, Robert A. Kadane,
reported that KFG's wholly-owned subsidiary, KFG Petroleum
Corporation, reworked its Parker #2 well and the lease is now
producing 130 BOPD, up from 95 BOPD. The Parker #5 well was
drilled to 6,450' and, due to tight sand conditions, it was decided
not to set production casing.
Also, in the LaGrange Field, the Craig #1 and #2 wells have paid
out and KFG's interest has increased from 10% to 21.5% working
interest. Total production from the Craig wells is currently
120 BOPD. A location has been staked for the Craig #3 well
and plans are to drill it in the near future.
Carthage Point, Adams Co., MS
At Carthage Point Field, the McNeil #2 and #3 wells have just
paid out. KFG's interest will increase from 8% working
interest to 21.5% working interest going forward. The two
McNeil wells currently produce a total of 60 to 70 BOPD.
Mantua Field, Adams Co., MS
KFG is moving on location to drill the Barnum #2 well in the
Mantua Field. A 7,700' well will be drilled to test all zones
of the Wilcox formation. KFG
has a 9% working interest in the well, reverting to a 20.5% working
interest at 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.
SOURCE KFG Resources Ltd.
