Showing posts with label KFG operations upgrade. Show all posts
Showing posts with label KFG operations upgrade. Show all posts

Tuesday, July 7, 2015

KFG operations upgrade

KFG operations upgrade

Tuesday, Jun 30, 2015

Robert A. Kadane, President of KFG Assets Ltd, reported today that The Organization's backup, KFG Petroleum Company's Craig #5 well put on creation in May 2015 in Adams District, Mississippi keeps on delivering 100 BOPD water free. The Organization has a 21.5% (16.025 net) in the well. The Barnum #3 is as yet experiencing creation testing in spite of the fact that outcomes to date are disillusioning. KFG's enthusiasm for the Barnum well is 9% (6.75% net).

The cost of unrefined petroleum in May was $ 60.50 bringing all creation once again into positive region. All generation is at last back on line after the wettest five months in memory. A couple wells were down occasionally in KFG's monetary second from last quarter finishing January 31, 2015 and in the in the Organization's last financial quarter finishing April 30, 2015. The last well that was down is back on creation this week. Climate conditions made it greatly difficult to get wells back on line in an opportune manner.

The Organization's penetrating project ought to be in progress in around 30 days. It is foreseen, at present, that there will be five exploratory wells and maybe a couple advancement wells in The system.

The Organization's regular shares are recorded on the TSX Trade, Vancouver, B.C.Trading Image: "KFG."

The TSX Endeavor Trade has not checked on and does not acknowledge obligation regarding theAdequacy or exactness of this discharge.

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