NATCHEZ, Miss., Feb. 23, 2015 /CNW/ -- Mr. Robert A. Kadane, President of KFG Resources
Ltd, reported today that the Company's subsidiary, KFG Petroleum
Corporation of Natchez, MS, has
set production casing in its Barnum #3 well logging several
potential oil zones in the well. A completion attempt will be made
in the Parker sand at 6415' (the producing zone in the Barnum #2
well). The Company has a 9% working interest in the well until
payout and a 20.5% interest thereafter.
In addition, the Company has run production casing in its Craig
#5 well to 6400' to test the Benbrook sand at 6214'. The producing
sand on the Craig Lease, the Second Wilcox Sand at 4348', was also
present and productive significantly expanding oil reserves on the
lease. KFG has a 21.5% working interest in the Craig #5 well. As
the wells are perforated and put on production a report will
follow. The Company also drilled two wildcats, both dry holes, in
Franklin, County, Mississippi, the
Seale #1 and the Wall #1, both 4600' shallow dry holes. The Company
had a 10% working interest in both wells.
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.