NATCHEZ,
Miss., Oct. 16, 2013 /CNW/ -
Adams
County, Mississippi
Carthage Point Field
Robert A.
Kadane, President of KFG Resources Ltd., reported
today that the MacNeil #3 well was perforated in the Stewart "B"
Sand of the Wilcox formation at 4,392' and is
flowing 80 BOPD. The MacNeil #3 well extends the reservoir 660'
north of the MacNeil #2 well. KFG has an 8% working interest in the
lease, reverting to a 20% working interest at payout. The total
production from the lease is 113 BOPD. The prospect contains 200
acres.
LaGrange Field
The Company's Parker #2 well has been completed for 25 BOPD. The
Company has a 10% working interest in the well and surrounding 160
acres. The delay between completion and the start of production (2
months) was due to the need to convert a well for saltwater
disposal.
The Company has spudded a new Wilcox test
at the LaGrange Field – the Craig #1. It will be a 6,000'
Wilcox test. The Company has a 10%
working interest in the well reverting to a 22% interest at
payout.
Warren
County, Mississippi
Wildcat
KFG drilled its #1 Hannah well to 11,350' and cored oil sand in
the 2nd Rodessa Sand with an oil show in the
3rd Rodessa Sand. Production casing has been
set to 11,350'. KFG has a 5% working interest in the well,
reverting to an 18% 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