In c4489 issued at 16:31 today, an error occurred in the first
paragraph of the Wildcat section. It should read "KFG drilled its
#1 Hannah well to 11,350'. Production casing has been set to
11,350' and completion operations will begin shortly. KFG has a 5%
working interest in the well, reverting to an 18% working interest
at payout." rather than "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 complete, corrected release
follows:
MacNeil #3 Well Flowing 80 BOPD
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'. Production casing has
been set to 11,350' and completion operations will begin shortly.
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