|
Progress made by KFG between August 2013 and October 2014:
August 2013 - KFG Exited 2013 with a small profit, but lost 25% of Fayette's production due to payouts.
September 2013 - KFG earned $116,000 on just $500,000 in revenue at $76 per barrel price for LLS
November 2013 - Craig 1 put into production
December 2013 - KFG earned $126,000 on $758,000 revenue
February-March - Craig 2 and Parker 2,3,4 start drilling phase and put into production
April 2014 - KFG lost $300k due to accrued income, increased costs from hiring new employees, buying new equipment and additional costs from all the new wells.
June 2014 - Four wells paid out, turning 10% interests into 20% interests, increasing KFG's production by 35-40bopd. Craig 3 and Barnum 2 started drilling
July 2014 - Craig 3 put into production. New Reservoir was found
August 2014 - KFG has net profit of $67,500 for 2013 after 4 quarters(ended April 30th)
- Total revenue at $2,659,768. Says in MD&A that all lost production was recovered and even more from a year ago.
September 2014 - Barnum well put into production at 40bopd, but 2 weeks later production increased to 140bopd.
- Fall drill program announced, 3-4 wells to complete before end of December
October - KFG earned $461,000 on $900,000 revenue. Investor acquires a 10% stake in KFG.
The October results only include 22 wells of the 24 currently production, so in Q2 which will come out in December(ending October 31) we will see additional revenue from the following:
- Craig 3 well
- Barnum well
- Full quarter of the 4 wells that paid out in June
|