NATCHEZ,
Miss., Feb. 12, 2014 /CNW/ - KFG Resources Ltd.
President, Robert
A. Kadane, reported that KFG's wholly-owned
subsidiary, KFG Petroleum Corporation, has run production casing in
its Craig #2 well, a 40-acre west offset to its Craig #1 well. The
well was drilled to 6,600 feet. Thirteen feet of 2nd
Wilcox oil sand was cored at 4,340' and
the well is structurally flat with the Craig #1 well, significantly
expanding the oil reservoir. The Craig #1 well continues to flow at
rates varying between 90 and 100 BOPD. KFG will report when the
well is completed and producing. KFG's working interest in the well
and project is 10%, reverting to 22% at payout.
KFG is moving in on the Parker #4 well in Adams County,
Mississippi. The 6,300' test is
offsetting production in the Wilson sand of the Wilcox and
will test several zones that have oil shows in the immediate
area.
The Company has several projects nearing completion for
drilling. Weather delays have restricted KFG's ability to finish
working on its deep test in Warren County, Mississippi.
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.