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KFG Resources Provides Operations Update in Mississippi, Louisiana

KFG Resources Ltd. (KFG.V) reported that the company's subsidiary, KFG Petroleum Corporation, of Natchez, Mississippi, has reopened production in the Stewart "B" Sand in the Carthage Point Field, Adams County, Mississippi.

The KFG MacNeil #2 well encountered 12 feet of Stewart "B" Sand at 4390 feet. KFG has an 8% working interest reverting to a 20% working interest after payout. A north offset will be drilled within the next 90 days.

At Fayette, the #26-2 well has been completed for 6 BOPD. Fayette has reached payout; consequently, KFG's working interest reverted from 100% to 74.9%. Additional shallow wells will be drilled later in 2013.

At the Clayton Field, Concordia Parish, Louisiana, the #1 Miller has started production in the E-2 Sand at a rate of 25 BOPD. KFG has a 5% working interest before payout and an 18% working interest after payout.

In addition, the company is assembling acreage in Louisiana and Mississippi for an active drilling program in the summer and fall of 2013, as well as continued development at Fayette.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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