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Share Name | Share Symbol | Market | Type |
---|---|---|---|
KFG Resources Ltd | TSXV:KFG | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.025 | 0.025 | 0.03 | 0 | 01:00:00 |
KFG Resources Ltd. ("KFG" or the "Company") (TSX VENTURE:KFG) reported today that the Company's Spring Hill L-T #1 well in Fayette County, Mississippi, was drilled to a depth of 9,900 feet to test the Lower Tuscalossa formation and has run production casing for a completion attempt as a producing well. Mr. Robert A. Kadane, President of the Company, stated that core analyses and pressure tests indicated 28 feet of virgin reservoir from the Massive sand of the Lower Tuscalossa at 9,712 to 9,740 feet. The L-T #1 well was drilled and will be operated by the Company's subsidiary, KFG Petroleum Corporation. He further noted that initial production rates will be announced following completion. The Company owns 100% of the working interest (79.16% net interest) in the Spring Hill L.T. #1 well, reverting to a 74.6% (59.1% net) working interest, after payout to the Company of all costs incurred.
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