KFG Resources has provided an operational update.
LaGrange Field, Adams Co., MS
KFG Resources Ltd. President, Robert A. Kadane, reported that KFG's wholly-owned subsidiary, KFG Petroleum Corporation, is running production casing in its Craig #3 well to 4,700' to test a 2nd Wilcox oil sand at 4,375'. KFG has a 10% working interest in the well, reverting to a 21.5% interest at payout. The well is 1,250' north of the Craig #1 and #2 wells and appears to be in a new reservoir.
Mantua Field, Adams Co., MS
Completion operations have begun at the Company's Barnum #2 well. KFG has a 9% working interest in the well, reverting to 20.5% after payout.
