KFG Resources Ltd.'s President, Robert A. Kadane, reported that the Company's subsidiary, KFG Petroleum Corporation (and partners) is completing its Drouet Poole Estate #1 well in Franklin County, Mississippi. Production rates will be reported in the next couple of weeks.
The Company owns a 12% working interest in the well which will revert to 24% if the well pays out. In addition, completion of the Company's Stockfelt #1 well, in Adams County, is underway.
The Company owns a 13% working interest in this well, before payout, and a 20.25% working interest if the well pays out. The Company is currently waiting on additional equipment essential in completing the well.