NATCHEZ, Miss., Feb. 21, 2020 /PRNewswire/ -- Robert A. Kadane, President of KFG Resources Ltd. reported today that KFG has learned from Hillcrest Petroleum, the Operator at West Hazel in Saskatchewan, Canada, that the property has been put on electricity which will save $10,000 to $12,000 CDN in operating costs/month. The property is producing 115 BOPD out of 3 wells. A fourth well will be recompleted in a shallower virgin oil reservoir in the near future. KFG's WI
In Wilkinson Co., Miss the Company's participation in a wildcat well is delayed because of high water in the Mississippi River. The project won't be drillable until after the high water mark in May 2020. So KFJ is considering it a project to be drilled in the late summer of 2020.
In Adam, County, MS on the Company's Barnum Lease, the #4 well will be recompleted in a shallower zone as soon as weather permits. KFG owns a 22.5% W.I. (16.9% NRI) in that well.
The Company is actively looking for new projects in North Texas.
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.
SOURCE KFG Resources Ltd.