NATCHEZ, Miss., June 27, 2019 /CNW/ -- Robert A. Kadane, CEO of KFG Resources Ltd.
reported today a rework in Jefferson
Co, MS. The Spring Hill #1 well was put back on
production for 10 to 15 BOPD. KFG owns a 67.5 net revenue
interest. In addition, the #4 Barnum well (KFG owns a 16.9%
NRI) is scheduled to be reperforated in July in an attempt to
increase production.
In Saskatchwan, Canada at West
Hazel, production on the fourth well has been restored. KFG
has an 11.25% working interest in the acreage. The wells
produce heavy oil and can take 2 to 3 months for daily steady
production numbers to occur. Approximately 4800 to 5000 bbls
of fluid a day is being produced with oil representing 1.5% to 2%
or 80 to 100 BOPD. As production stabilizes the oil cut
percentage should increase resulting in more saleable oil.
Current production is covering all operating and asset costs.
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 the release.
SOURCE KFG Resources Ltd.
