KFG Posts Positive First Quarter for Fiscal Year 2012

    









NATCHEZ, Miss., Nov. 2, 2011 /CNW/ -- KFG Resources Ltd President, Robert A. Kadane, reported positive quarterly earnings for the Company's subsidiary, KFG Petroleum Corporation. For the first Quarter ended July 31, 2011 oil and gas sales were $1,116,249 US compared to $442,676 for the corresponding quarter ended July 31, 2010. Net Income for the period was $676,140 or .0135 cents per share compared to $153,431 or .003 cents per share for the quarter ended July 31, 2010. Cash Flow from operations for the quarter ended July 31, 2011 was $638,950 US, or .0127 cents per share versus a deficit of $178,205 US for the quarter ended July 31, 2010. Total Current Assets were $2,006,624 versus Current Liabilities of $809,542. There was no Long Term Debt.



        See Table Below:


 

 


        Revenue        Three Months ended         Three Months ended
                       July 31, 2011              July 31, 2010

 


        Oil Sales                      $1,116,249                 $442,676
        Net Income                       $676,140                 $151,898
        Cash Flow from
         Operations                      $638,950                ($178,205)



The Company's main properties are located in Concordia Parish, Louisiana and Jefferson 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.








KFG Resources Ltd


CONTACT:  Robert A. Kadane, President, [phone] 


    

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