KFG Resources' subsidiary, KFG Petroleum Corporation of Natchez, MS, has three projects that are drill ready before yearend 2014. In Adams County, MS the Craig #4, a southwest Offset to the Craig #3 producer, will be drilled to 6500' to test all Wilcox zones of interest. In Franklin County, MS the Seale#1, a 4500' Wilcox test, and the Wall#1, a 4600' Wilcox test, will evaluate two new areas of interest where the Company has accumulated an acreage postion.
In February 2015 in Adams County, the Barnum #3, a west offset to the Company's Barnum #2 well, currently averaging close to 120 bopd, will be drilled to a depth of 7000' testing several Wilcox zones that have produced in the immediate area. This well will be followed by additional development in Franklin County, MS. In each of the above cases KFG will have a 10% working interest converting to a 21.5% interest following payout of a successful project except for the Barnum well where the Company's interest is 9%.