KFG KFG Resources Ltd

NATCHEZ, Miss., Oct. 5 /CNW/ -- KFG Resources President, Robert A. Kadane, reported that KFG Resources wholly-owned subsidiary, KFG Petroleum Corporation has completed the Spring Hill #6 well in the 4600' sand at a depth of 3911' for 28 BOPD and 80mcf/d on a 24 hour test. TP 80 psi, CP 220 psi. The well will be produced for 30 days before a decision is made to possibly add additional perforations. No water was reported on the test. KFG owns a 100% working interest(79.16% net) in the well and surrounding acreage reverting to a 74.6% working interest(59.1% net) after payout of all drilling, seismic, land, exploration, development, taxes, and operating costs - currently $2.1 million USD. The Company's common shares are listed on the TSX Venture Exchange, Vancouver, B.C. trading symbol "KFG". For additional information please contact Mr. Kadane at (303) 825-7080. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Robert A. Kadane, President of KFG Resources Ltd., +1-303-825-7080 Web Site: http://www.kfgresources.com

Copyright