KFG Resources Ltd President, Robert A. Kadane reported that the Company's subsidiary, KFG Petroleum Corporation, and its partners have completed the Drouet Poole Estate #1 Well, Franklin County, MS, pumping 60 BOPD and 30 Barrels of water a day.

The company and partners drilled the #2 Poole Estate well as a north offset to the #1 and abandoned it last week. KFG owns a 12% working interest in the well investing to a 24% Working interest after the #1 and the dryhole costs of the #2 well as recovered. Future development will depend on how production volume olds up in the #1 well.

The Stockfelt #1 and the Barnum #4 well are in various stages of completion.

Tags: KFG Resources