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News: Company Update
2015-08-05 12:22 MT - News Release
Mr. Robert Kadane reports
KFG OPERATIONS UPDATE
KFG Resources Ltd.'s drilling program is on hold because of high water above flood stage in the Mississippi River which affects large areas of land -- sometimes many miles away from the river. This circumstance is unprecedented in the last 75 years. The company's program will commence when conditions permit.
The company's production is stable and cash flow was positive during the first quarter of its fiscal year ending July 31, 2015. The company's Barnum No. 3 well in Adams county, Mississippi, has proved to be non-commercial and is producing 10 barrels of oil per day.
As of this date, the company has three new projects and one development well ready to drill. Two additional projects are being assembled. All projects are in Mississippi.
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