KFG Resources Ltd (KFG) Quote

Cadillac Ventures closes KFG Resources acquisition

2021-05-03 10:39 MT - News Release

See News Release (C-CDC) Cadillac Ventures Inc (2)

Mr. Norman Brewster of Cadillac reports

CADILLAC VENTURES INC. AND KFG RESOURCES LTD. ANNOUNCE COMPLETION OF ARRANGEMENT

Cadillac Ventures Inc. has closed the acquisition of KFG Resources Ltd., pursuant to the previously announced plan of arrangement.

THE ARRANGEMENT

Pursuant to the Arrangement, Cadillac acquired all of the issued and outstanding common shares of KFG ("KFG Shares") on the basis of one common share of Cadillac (each, a "Cadillac Share") in exchange for each KFG Share held. In connection with the Arrangement, Cadillac issued an aggregate of 50,539,644 Cadillac Shares and there are 150,960,910 Cadillac Shares issued and outstanding following completion of the Arrangement.

The Arrangement was approved by holders ("KFG Shareholders") of KFG Shares at a special meeting of KFG Shareholders held on April 15, 2021 to consider the Arrangement. In addition, on April 19, 2021, the Supreme Court of British Columbia approved the Arrangement and granted a final order in respect thereof. The remaining conditions to completion of the Arrangement were satisfied or waived by the Parties on April 30, 2021.

The KFG Shares are expected to be delisted from the TSX Venture Exchange within 1-2 business days following completion of the Arrangement and KFG will make an application to cease to be a reporting issuer shortly thereafter. Additional information regarding the Arrangement is provided in the management information circular of KFG dated March 12, 2021, which has been filed on KFG's SEDAR profile at www.sedar.com.

CADILLAC DIRECTORS

Following closing of the Arrangement, G. Stephen Guido was appointed to the Cadillac board of directors ("Cadillac Board"), which is now comprised of five members. Mr. Guido is a director and Vice President, Operations and Chief Operation Officer of KFG and director, President and Chief Executive Officer of KFG's subsidiary, KFG Petroleum Corporation. In addition, pursuant to the terms of the Arrangement, the Cadillac Board has agreed to nominate Giacomo Grassi for election to the Cadillac Board at the next meeting of Cadillac shareholders at which directors are elected. Mr. Grassi is an independent businessman and corporate director, currently serving as a director on KFG, as well as director and property management administrator of Giamel Inc. (a private commercial real estate company) and director of Spectra Inc. (a public manufacturer of commercial transportation safety products).

EXHANGE OF KFG SHARES

Registered KFG shareholders who have not already done so, should submit the certificates representing their KFG Shares, together with a signed and completed letter of transmittal, to TSX Trust Company, the depositary for the Arrangement in order to receive the Cadillac Shares to which they are entitled pursuant to the Arrangement. Copies of the letter of transmittal are available on KFG's SEDAR profile at www.sedar.com. KFG shareholders who hold their KFG Shares through a broker or other intermediary should follow the instructions provided by such broker or other intermediary to exchange their KFG Shares for Cadillac Shares.

We seek Safe Harbor.

KFG enters definitive deal for sale to Cadillac

2021-02-09 19:53 MT - News Release


Mr. Robert Kadane reports

CADILLAC VENTURES INC. AND KFG RESOURCES LTD. ENTER INTO ARRANGEMENT AGREEMENT

In connection with their previously announced letter of intent, Cadillac Ventures Inc. and KFG Resources Ltd. have entered into a definitive arrangement agreement dated Feb. 9, 2021, pursuant to which, among other things, Cadillac will acquire all of the issued and outstanding common shares of KFG. Under the arrangement agreement, KFG shareholders will be entitled to receive one common share of Cadillac in exchange for each KFG common share held. The arrangement agreement will be filed on KFG's SEDAR profile on the SEDAR website.

The transaction will be effected by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia) and will require approval by at least 66-2/3rds per cent of votes cast by KFG shareholders present in person or represented by proxy at a special meeting of KFG shareholders to be called in connection with the transaction in addition to any minority approval required under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). In addition to KFG shareholder approval, closing of the transaction is subject to the receipt of certain regulatory, court and stock exchange approvals, and the satisfaction of other closing conditions customary in transactions of this nature.

Further information regarding the transaction will be contained in a management information circular that KFG will prepare, file and mail to KFG shareholders in connection with the meeting. All KFG shareholders are urged to read the information circular once available as it will contain additional important information concerning the transaction.

The transaction has been unanimously approved by the board of directors of both KFG and Cadillac. The board of directors of KFG unanimously recommends that KFG shareholders vote in favour of the transaction at the meeting.

Following completion of the transaction, it is anticipated one KFG director will be appointed to the Cadillac board of directors and a second KFG nominee will be appointed at Cadillac's next annual shareholders meeting. KFG common shares will be delisted from the TSX Venture Exchange.

We seek Safe Harbor.

Cadillac, KFG agree to merge

2020-11-04 06:15 MT - News Release

See News Release (C-CDC) Cadillac Ventures Inc (2)

Mr. Norman Brewster of Cadillac reports

CADILLAC VENTURES INC. AND KFG RESOURCES LTD. AGREES TO PURSUE AN AMALGAMATION

Cadillac Ventures Inc. and KFG Resources Ltd. have signed a letter of intent to pursue an amalgamation, with the support of both boards, subject to approval by shareholders of each company and TSX Venture Exchange approval. The amalgamation will proceed with an exchange of KFG common shares for Cadillac common shares on a one for one basis.

The companies believe that the amalgamation will create significant value for both shareholder groups. As such, the boards of directors of both companies have agreed specific terms of the proposed transaction will be determined based on corporate, tax and securities laws, and other considerations. The principals of both Cadillac and KFG will provide support agreements for the transaction.

Following completion of the amalgamation, Cadillac will proceed to effect a consolidation of its shares, expected to be on a 1:3 basis.

The directors of KFG wish to thank their shareholders for their support during the downturn of the oil market over the past several years. They believe that the proposed transaction with Cadillac can create a new and more impressive company with diversified assets, cash flows and reduced costs to make the company's oil production more lucrative. Both Mr. Haney and Mr. Grassi approve of the transaction and urge all KFG shareholders to follow suit.

The directors of Cadillac believe that the cash flow provided by the oil revenue related to this transaction will allow the company to be more effective in the review and acquisition of additional mineral properties. The directors urge Cadillac shareholders to support the transaction.

© 2020 Canjex Publishing Ltd. All rights reserved.

KFG Operations Update

NATCHEZ, Miss., Feb. 21, 2020

NATCHEZ, Miss., Feb. 21, 2020 /CNW/ -- 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.

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. KFG 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.

View original content: http://www.newswire.ca/en/releases/archive/February2020/21/c1263.html

Contact:

Robert A. Kadane, President (940) 500-0807, http://www.kfgresources.com

© 2020 Canjex Publishing Ltd. All rights reserved.

Thanks for the update!

Hillcrest to connect West Hazel ops to Sask. power grid

2020-02-05 08:15 MT - News Release


Mr. Donald Currie reports

HILLCREST ELECTRIFIES WEST HAZEL OIL PRODUCTION OPERATIONS

Further to its recent news release dated Jan. 31, 2020, Hillcrest Petroleum Ltd. has provided an update on its operational improvement initiative to increase operational reliability and reduce operating costs by connecting its West Hazel production operations to the Saskatchewan power grid. The process will significantly reduce operating costs and eliminate greenhouse gas emissions from its current diesel/propane power system.

The Company recently initiated actions with Sask Power to connect its West Hazel oil production operations to Saskatchewan's electricity grid. Connection to the grid involves connecting to nearby main electricity transmission lines and installing necessary electrical equipment to service operational requirements.

This will transition West Hazel production operations from expensive, greenhouse gas emitting, diesel and propane fuels to clean grid electricity, is expected to deliver additional production from increased operational reliability (e.g. reduced downtime) and reduce direct operating expenses by approximately $8,000 per month, representing approximately a 10% operating cost saving.

"Since re-starting production from the West Hazel field early last year, we have gained valuable insight into opportunities to add value by optimizing our operations and implementing environmental best practices," commented Don Currie, CEO of Hillcrest Petroleum. "Electrifying the field is the first of a number of value adding field development activities planned to deliver maximum value from our West Hazel assets."

We seek Safe Harbor.

© 2020 Canjex Publishing Ltd. All rights reserved.

Update from JV Partner HRH on West Hazel. KFG owns 15% of this project:

Hillcrest completes six months of West Hazel production

2020-01-31 07:27 MT - News Release


Mr. Donald Currie reports

HILLCREST WEST HAZEL PRODUCTION UPDATE

Hillcrest Petroleum Ltd., further to its news release of July 5, 2019, and Sept. 10, 2019, has provided an update on its operations at West Hazel.

The company has noted six full months of production after all four wells were brought back on production at the West Hazel property.

In early July, 2019, total fluid production (oil and water) was over 4,500 barrels per day, with oil cut estimated at 1.5 per cent to 2 per cent of total fluid. In September, the company announced production averaging over 150 barrels of oil per day, with oil cut increasing to between 2.5 per cent and 3 per cent.

Production performance over the past six months indicates consistently strong fluid flow capacity from the wells and reservoirs. Daily production from the field periodically exceeded 200 barrels per day, indicating the latent production potential from the field, as Hillcrest continues to optimize production operations. Oil rates over the last six months averaged 115 barrels per day, despite reducing total fluid production to minimize sand influx in the wells and operational issues in one of the wells.

"We are pleased with how the field has performed well and have gained valuable insight into how best to optimize production from the wells. Heavy oil operations require more attention and care than light oil, particularly with regard to sand produced with the oil, and our field staff have done an excellent job keeping all running even in severe cold temperatures," states Don Currie, chief executive officer of Hillcrest Petroleum. "The production revenue has created a floor for Hillcrest to work from and we continue to work to improve the company balance sheet and shareholder value. The company will continue to issue updates as developments occur."

We seek Safe Harbor.

© 2020 Canjex Publishing Ltd. All rights reserved.

January 2020 Company Presentation: http://kfgresources.com/wp-content/uploads/2020/01/KFG-Resources-Ltd.-January-2020-Company-Presentation.pdf

KFG October 2019 Company Presentation: http://kfgresources.com/wp-content/uploads/2019/10/KFG-Resources-Ltd.-October-2019-Company-Presentation.pdf

KFG participates in Wilcox test in Louisiana

2019-09-18 10:10 MT - News Release


Mr. Robert Kadane reports

KFG OPERATIONS UPDATE

KFG Resources Ltd.'s subsidiary, KFG Petroleum Corp., Natchez, Miss., is participating in a 6,050-foot Wilcox test operated by Bay Gas LLC, in Concordia Parish, La. It comprises a 280-acre lease with a 25-per-cent royalty burden. KFG has a 2.5-per-cent working interest. Drilling is under way.

In Saskatchewan, KFG's interest at West Hazel continues to perform well with current production between 160 to 170 barrels of oil per day. KFG owns a financial interest through Hillcrest Petroleum equal to 11.25 per cent. Plans are being finalized for drilling on the lease and will be reported in the near future.

In addition, KFG is involved in a directional project with Bay Gas, in Wilkinson county, Mississippi, and details will be forthcoming when the location dries out enough to support a drilling operation, probably in October at this writing.

© 2019 Canjex Publishing Ltd. All rights reserved.

Just the summertime. The whole "sell in may and go away" mentality that's unfortunately been around for decade for lazy brokers to relax. In 6-7 weeks things will pick up

The news is decent. Wonder why volume so low

I sure do, not sure how I missed posting the news.

KFG Resources talks oil production in Jefferson county

2019-06-27 13:25 MT - News Release


Mr. Robert Kadane reports

KFG RESOURCES LTD. OPERATIONS UPDATE

KFG Resources Ltd. has noted a rework in Jefferson county, Mississippi. The Spring Hill No. 1 well was put back on production for 10 to 15 barrels of oil per day. KFG owns a 67.5-per-cent net revenue interest (NRI). In addition, the No. 4 Barnum well (KFG owns a 16.9-per-cent NRI) is scheduled to be reperforated in July in an attempt to increase production.

In Saskatchwan, Canada, at West Hazel, production on the fourth well has been restored. KFG has an 11.25-per-cent working interest in the acreage. The wells produce heavy oil and can take two to three months for daily steady production numbers to occur. Approximately 4,800 to 5,000 barrels of fluid a day is being produced with oil representing 1.5 per cent to 2 per cent, or 80 to 100 barrels of oil per day. As production stabilizes the oil cut percentage should increase resulting in more saleable oil. Current production is covering all operating and asset costs.

© 2019 Canjex Publishing Ltd. All rights reserved.

You still follow this?

Good news out today

KFG Resources talks oil production in Jefferson county

2019-06-27 13:25 MT - News Release


Mr. Robert Kadane reports

KFG RESOURCES LTD. OPERATIONS UPDATE

KFG Resources Ltd. has noted a rework in Jefferson county, Mississippi. The Spring Hill No. 1 well was put back on production for 10 to 15 barrels of oil per day. KFG owns a 67.5-per-cent net revenue interest (NRI). In addition, the No. 4 Barnum well (KFG owns a 16.9-per-cent NRI) is scheduled to be reperforated in July in an attempt to increase production.

In Saskatchwan, Canada, at West Hazel, production on the fourth well has been restored. KFG has an 11.25-per-cent working interest in the acreage. The wells produce heavy oil and can take two to three months for daily steady production numbers to occur. Approximately 4,800 to 5,000 barrels of fluid a day is being produced with oil representing 1.5 per cent to 2 per cent, or 80 to 100 barrels of oil per day. As production stabilizes the oil cut percentage should increase resulting in more saleable oil. Current production is covering all operating and asset costs.

© 2019 Canjex Publishing Ltd. All rights reserved.

KFG April 2019 Company Presentation: http://kfgresources.com/wp-content/uploads/2019/04/KFG-Resources-Ltd.-April-2019-Company-Presentation.pdf

Hillcrest produces 150 bpd of oil at West Hazel

2019-03-21 11:06 MT - News Release


Mr. Donald Currie reports

HILLCREST OIL PRODUCTION CLIMBS

Hillcrest Petroleum Ltd.'s upgraded West Hazel production facility is in operation, as previously announced, and production started from two wells on Jan. 13, 2019, and Jan. 15, 2019, respectively. Initial fluid production rates from both wells were as expected. Production from a third well was brought on-line in early March when weather conditions softened after an extreme record-breaking cold snap.

Production over the last five days from the three wells has averaged 150 barrels per day which meets the lower production estimates the company published in its previous releases, although those estimates considered production from all four wells. Hillcrest is encouraged by the early results, which are meeting or exceeding previous estimates. The company is focused on efforts to maximize the production from the current wells and is further upgrading the potential of the injector well, which in turn, if successful, could result in higher production numbers from the current three wells. A normalized sustained production rate is expected to take another three weeks to four weeks and will be released when achieved.

Hillcrest will move to work on and start production from the fourth well once current efforts have been completed, results reviewed and a rig is available.

As previously announced, under the terms of its joint venture agreement on the West Hazel property, the company will provide 100 per cent of reactivation costs to return the field to production to earn a 75-per-cent working interest, reverting to 50 per cent after recovery of reactivation costs.

We seek Safe Harbor.

© 2019 Canjex Publishing Ltd. All rights reserved.

KFG Insider Buying:

Filing date: 2019-02-22
Transaction: 2019-02-22 $KFG
KFG Resources Ltd Grassi, Giacomo
4 - Director of Issuer
Common Shares
10 - Acquisition or disposition in the public market $11,055
+201,000 vol
$0.055 each 1,500,000
Filing date: 2019-02-22
Transaction: 2019-02-22 $KFG
KFG Resources Ltd Haney, Kevin
3 - 10% Security Holder of Issuer, 4 - Director of Issuer
Common Shares
10 - Acquisition or disposition in the public market $3,025
+55,000 vol
$0.055 each 7,110,000
Filing date: 2019-02-06
Transaction: 2019-01-31 $KFG
KFG Resources Ltd KFG Resources Ltd.
1 - Issuer
Common Shares
38 - Redemption, retraction, cancellation, repurchase $840.00
+21,000 vol
$0.04 each 21,000
Filing date: 2019-02-06
Transaction: 2019-01-31 $KFG
KFG Resources Ltd KFG Resources Ltd.
1 - Issuer
Common Shares
00 - Opening Balance-Initial SEDI Report
Filing date: 2018-12-11
Transaction: 2018-12-10 $KFG
KFG Resources Ltd Kadane, Robert Andrews
4 - Director of Issuer, 5 - Senior Officer of Issuer
Common Shares
11 - Acquisition or disposition carried out privately $1,621.312
+50,666 vol
$0.032 each 896,668

October 2018 presentation from Hillcrest explaining the potential of West Hazel:

KFG Resources purchases interest in West Hazel assets

2019-02-22 07:52 MT - News Release


Mr. Robert Kadane reports

KFG RESOURCES LTD. PURCHASES PRODUCTION IN SASKATCHEWAN

KFG Resources Ltd. has completed a production purchase in western Saskatchewan. A financial partnership was formed with Hillcrest Petroleum whereby the company purchased 15 per cent of Hillcrest's position in its West Hazel assets, which amounts to 75 per cent of the total interest available. Total consideration paid by the company to Hillcrest was $150,000 (approximately $113,000 (U.S.)). Four shut-in wells are being re-entered and returned to production after being shut in for four years. It will take a few weeks to ascertain how much production will be recovered (what the daily rate from all four wells will be). In addition, other potential on the lease is being evaluated (consisting of 220 acres) and KFG Resources has the right to participate in any further development of the assets at a level equal to its current percentage of Hillcrest's ownership.

© 2019 Canjex Publishing Ltd. All rights reserved.

KFG Resources to buy back up to 2.5 million shares

2019-01-10 15:52 MT - News Release


An anonymous director reports

KFG RESOURCES ANNOUNCES INTENTION TO COMMENCE NORMAL COURSE ISSUER BID

The TSX Venture Exchange has accepted KFG Resources Ltd.'s notice of intention to make a normal course issuer bid for common shares in the capital of the company through the facilities of the TSX-V. The Company intends to purchase, from time to time as it considers advisable over the 12-month period of the NCIB program, an aggregate of 2,500,000 Common Shares, representing approximately 5% of the Company's issued and outstanding Common Shares and approximately 6.15% of the Company's "public float" (as such term is defined under the TSX-V Corporate Finance Manual).

The Company may commence the NCIB on January 15, 2019 and the NCIB will terminate on the earlier of the Company purchasing a total of 2,500,000 Common Shares, the Company providing a notice of termination, or the date that is 12 months following the commencement date. All purchases will be made through the facilities of the TSX-V at market prices and otherwise in accordance with the rules and policies of the TSX-V. All Common Shares acquired by the Company under the NCIB will be subsequently cancelled. The Company has appointed PI Financial Corp. to conduct the NCIB on its behalf.

The board of directors of the Company believes that, from time to time, the market price of the Common Shares may not adequately reflect the Company's underlying value and future prospects and that, at such times, the purchase of the Common Shares represents an appropriate use of the Company's financial resources and would be in the best interests of the Company's shareholders.

The Company's Common Shares are listed on the TSX-V, Vancouver, B.C., trading symbol "KFG".

We seek Safe Harbor.

© 2019 Canjex Publishing Ltd. All rights reserved.

KFG Resources Ltd. January 2019 Company Presentation:

http://kfgresources.com/wp-content/uploads/2018/12/KFG-Resources-Ltd.-January-2019-Company-Presentation.pdf

https://ceo.ca/api/sedi?insider=&symbol=KFG&date=&transaction=&amount=&undefined[company_symbol]=KFG

Recent filings
Filing date: 2018-10-25
Transaction: 2018-10-25 $KFG
KFG Resources Ltd Haney, Kevin
3 - 10% Security Holder of Issuer, 4 - Director of Issuer
Common Shares
10 - Acquisition or disposition in the public market $660.00
+11,000 vol
$0.06 each 6,996,000
Filing date: 2018-10-25
Transaction: 2018-10-25 $KFG
KFG Resources Ltd Haney, Kevin
3 - 10% Security Holder of Issuer, 4 - Director of Issuer
Common Shares
10 - Acquisition or disposition in the public market $260.00
+4,000 vol
$0.065 each 6,985,000
Older filings
Filing date: 2018-10-15
Transaction: 2018-10-15 $KFG
KFG Resources Ltd Haney, Kevin
3 - 10% Security Holder of Issuer, 4 - Director of Issuer
Common Shares
10 - Acquisition or disposition in the public market $350.00
+5,000 vol
$0.07 each 6,981,000
Filing date: 2018-10-12
Transaction: 2018-10-12 $KFG
KFG Resources Ltd Haney, Kevin
3 - 10% Security Holder of Issuer, 4 - Director of Issuer
Common Shares
10 - Acquisition or disposition in the public market $540.00
+9,000 vol
$0.06 each 6,957,100
Filing date: 2018-10-12
Transaction: 2018-10-12 $KFG
KFG Resources Ltd Haney, Kevin
3 - 10% Security Holder of Issuer, 4 - Director of Issuer
Common Shares
10 - Acquisition or disposition in the public market $71.50
+1,100 vol
$0.065 each 6,948,100
Filing date: 2018-10-12
Transaction: 2018-10-12 $KFG
KFG Resources Ltd Haney, Kevin
3 - 10% Security Holder of Issuer, 4 - Director of Issuer
Common Shares
10 - Acquisition or disposition in the public market $643.50
+9,900 vol
$0.065 each 6,967,000
Filing date: 2018-10-12
Transaction: 2018-10-12 $KFG
KFG Resources Ltd Haney, Kevin
3 - 10% Security Holder of Issuer, 4 - Director of Issuer
Common Shares
10 - Acquisition or disposition in the public market $540.00
+9,000 vol
$0.06 each 6,976,000
Filing date: 2018-09-11
Transaction: 2018-09-11 $KFG
KFG Resources Ltd Haney, Kevin
3 - 10% Security Holder of Issuer, 4 - Director of Issuer
Common Shares
10 - Acquisition or disposition in the public market $3,285
+73,000 vol
$0.045 each 6,860,000
Filing date: 2018-09-11
Transaction: 2018-09-11 $KFG
KFG Resources Ltd Haney, Kevin
3 - 10% Security Holder of Issuer, 4 - Director of Issuer
Common Shares
10 - Acquisition or disposition in the public market $200.00
+4,000 vol
$0.05 each 6,947,000
Filing date: 2018-09-11
Transaction: 2018-09-11 $KFG
KFG Resources Ltd Haney, Kevin
3 - 10% Security Holder of Issuer, 4 - Director of Issuer
Common Shares
10 - Acquisition or disposition in the public market $4,150
+83,000 vol
$0.05 each 6,943,000

KFG Resources Ltd. October 2018 Company Presentation: http://kfgresources.com/wp-content/uploads/2018/10/KFG-Resources-Ltd.-October-2018-Company-Presentation.pdf

News: KFG Resources earns $67,334 in quarter ended July 31

2018-10-03 09:08 MT - News Release

Mr. Robert Kadane reports

KFG OPERATIONS UPDATE

KFG Resources Ltd.'s subsidiary, KFG Petroleum Corp., recorded revenues for its quarter ended July 31, 2018, of $397,520 versus $323,300 for its corresponding quarter of 2017. Net income for the July 31, 2018, quarter was $67,334 vs. $17,801 for the July 31, 2017, quarter. The company's current ratio was in excess of two to one for the quarter ended July 31, 2018.

The share buyback proposal was passed by the KFG's board meeting at its annual stockholder meeting. When all paperwork has been completed, details will be announced. Also, capital is being raised from oil industry partners for the project in Graham, Tex., to re-enter and recomplete three wells with an option to recomplete two additional wells. The No. 5 Barnum well in Adams county, Mississippi, was completed as a dry hole to 6,400 feet. KFG had a 22.5-per-cent working interest in the well.

In addition, the payout of the Barnum and Craig leases should add additional free cash flow of approximately $20,000/quarter to the company's offers.

© 2018 Canjex Publishing Ltd. All rights reserved.

KFG earns $67K USD profit for Q1 2018, results out on sedar: https://sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00006016

NATCHEZ, Miss., Sept. 20, 2018 /CNW/ -- Robert A. Kadane, President of KFG Resources Ltd., reported today that the Company's subsidiary, KFG Petroleum Corp., Natchez, MS, is moving in and rigging up to drill the Barnum #5 well. It is a 6400' Wilcox test. The Company's working interest is 22.5% (16.875% NRI).

In addition, KFG's Craig #2 paid out effective September 1, 2018. KFG's working interest increased from 11% to 22.5%. Also, to clarify an item in the news release dated September 10, 2018, the capital being raised for the Company's Graham, Texas venture is being raised from oil industry partners, not a private placement stock offering.

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.

View original content: http://www.newswire.ca/en/releases/archive/September2018/20/c6488.html

News: KFG Operations Update (Barnum Drill, Craig Payout, Share Buyback, Texas Project)

https://www.newswire.ca/news-releases/kfg-operations-update-692948991.html

NATCHEZ, Miss., Sept. 11, 2018 /CNW/ -- As previously reported, the Company's Barnum lease, Adams County, MS, paid out in July 2018 and KFG's working interest increased from 9% to 22.5%. The Barnum #5 location has been staked and permitted. Currently, the Company is waiting on a drilling rig which is expected to move into the location as soon as weather permits.

Additionally, the Company's Craig #3 should payout by the end of September, substantially increasing KFG's working interest.

Also, KFG has entered into a farmout agreement with Tracer Operating Company, Graham, Texas to recomplete 3 shallow gas & oil wells with an option to recomplete 3 additional wells. These are shallow recompletions (3600'-4500') in Palo Pinto and Stephens County, Texas. Capital is now being raised for this venture.

In addition, the Company is considering a share buy back proposal. Specifics will be presented to the board at the Board Meeting on September 28, and voted on at that time.

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.

For further information: Robert A. Kadane, President, (940) 723-7052, http://www.kfgresources.com
UNFOLLOW

KFG Resources Ltd. September 2018 Company Presentation: KFG Sept 2018 Pres

KFG Resources receives permit for Barnum No. 5 well

2018-07-25 11:12 MT - News Release


Mr. Robert Kadane reports

KFG RESOURCES ACQUIRES PERMIT TO DRILL BARNUM #5 WELL

KFG Resources Ltd.'s subsidiary, KFG Petroleum Corp. of Natchez, Miss., has permitted the Barnum No. 5 well in Adams county, Miss. It will be a 6,500-foot test of several Wilcox sands that produce in the immediate area. As of July 1, 2018, KFG's Barnum lease has paid out and the company's working interest rose from 9-per-cent working interest to 22.5-per-cent working interest and from 6.89-per-cent net revenue interest to 16.875-per-cent net revenue interest.

KFG's Craig lease will pay out shortly and a news release will be put out when that occurs. Additional projects are now under review with the improved pricing environment.

© 2018 Canjex Publishing Ltd. All rights reserved.

KFG May 2018 Company Presentation: http://kfgresources.com/wp-content/uploads/2018/04/KFG-Resources-Ltd.-May-2018-Company-Presentation.pdf

KFG Resources Ltd. January 2018 Company Presentation - http://kfgresources.com/wp-content/uploads/2018/01/KFG-Resources-Ltd.-January-2018-Company-Presentation.pdf

KFG unit abandons Hogue Estate well in Mississippi

2017-11-06 13:32 MT - News Release

Mr. Robert Kadane reports

KFG OPERATIONS UPDATE

KFG Resources subsidiary, KFG Petroleum Corp. (Natchez, Miss.), abandoned its Hogue Estate No. 1 well in Adams county, Miss., as a dry hole. The company had sold all of the working interest and was scheduled to back in after payout if the well was successful; consequently, all costs were recovered including acreage and the company received a $10,000 overhead fee for operating. Recovery of these costs virtually paid for the company's recently announced small production purchase.

The company is hopeful that the higher prices currently being experienced will hold which will make it easier to raise capital for its drilling projects in the future.

The company's common shares are listed on the TSX Venture Exchange under the symbol KFG.

© 2017 Canjex Publishing Ltd. All rights reserved.

KFG to drill 7,200-foot wildcat well in Mississippi

2017-10-19 07:41 MT - News Release

Mr. Robert Kadane reports

KFG TO DRILL 7200' WILDCAT WELL, ADAMS COUNTY, MS

KFG Resources Ltd.'s subsidiary, KFG Petroleum Corp. (Natchez, Miss.), is set to drill a 7,200-foot wildcat well in Adams county, Mississippi, testing several Wicox sands that have produced in the immediate area. The Hogue Estate No. 1 well is located in Adams county, Mississippi, on a 300-acre lease burdened with a 25-per-cent royalty, leaving the company with a 75-per-cent net revenue interest. KFG has taken on partners, will have no exposure in the drilling of the well to total depth, and will recover approximately $10,000 from reimbursement for the leases plus a $10,000 overhead charge. If productive, the company will back in after payout for a 12-per-cent working interest with no outlay of completion expenses.

In addition, the company closed the purchase, effective Oct. 1, 2017, of a 1-per-cent working interest in several of its operated wells in Mississippi, which will have an immediate impact on cash flow.

© 2017 Canjex Publishing Ltd. All rights reserved.

KFG Resources Ltd. October 2017 Company Presentation:

http://kfgresources.com/wp-content/uploads/2017/10/KFG-Resources-Ltd.-October-2017-Company-Presentation.pdf

KFG Q1 2017 Results (Ending July 31st 2017)
All Information Below Can Be Found At www.Sedar.com

Balance Sheet End Of Quarter (All Funds in US Dollars)

ASSETS – In US Dollars
Cash: $615,926
Accounts Receivable: $216,881
Prepaid Expenses: $10,700
Exploration & Evaluation Assets: $129,941
Property & Equipment: $499,002
Total Assets: $1,472,450

LIABILITIES – In US Dollars
Accounts Payable: $473,577
Decommissioning Liability: $195,125
Total Liabilities: $668,702

Revenue For Q1
Oil & Gas: $241,204
Management Fees: $82,096
Total Revenue: $323,300
Total Expenses: $305,499
Net Income: $17,801

Average Daily Production For Q1: 65.47bopd
Number Of Producing Wells: 19
Average Oil Price: $46.86

**Notes**
- Cost reductions did not commence until June ( As per May 10th News)
- Production purchase reduced cash by $40,000 for Q1 and $20,000 for Q2

MD&A Highlights

Overall Performance

For the three months ended July 31, 2017, the Company had cash flow from oil and gas production of $159,687, compared to $101,647 for the three months ended July 31, 2016. Oil production increased from 60.88 BOPD to 65.47 BOPD, and gas production increased 1.28 MCF per day. The average price of gas increased $0.27 per MCF and the average price of crude oil increased $4.27 per bbl when comparing the three months ended July 31, 2017 and July 31, 2016.

As of July 31, 2017, two instalments of the production purchase in Jefferson County, MS have been paid with the remaining instalment to be paid by the end of September. As of now, the Company is optimistic that one of its new projects will be drilled in October 2017 weather permitting.

As of July 31, 2017, the Company generated $93,291 of cash provided by operations versus a loss of $113,517 in cash in the comparable quarter of 2016, and was able to show an actual increase in cash after all expenditures. The Company’s current rate of assets to liabilities is 1.78 and its quick ratio is 1.3.

Outlook

The Company production has been stable in the past year showing minimal decline. Oil prices appear to be slowly increasing into the low $50/bbl range. In June and July 2016, the Company took initial steps to reduce its overhead. Management salaries were cut and a field hand was let go resulting in a savings of about $9,000 per month going forward. Reduced insurance amounted to a savings of $1,100/month. Office reductions, rent and parking were reduced affecting a savings going forward of $10,800/month in salaries and overhead. Additional reductions were made in June 2017, amounting to another $8,500 per month. The Company is now generating free cash flow amounting to $93,291 in the quarter ending July 31, 2017 and is starting to move forwarding raising money for its drilling program.

Share Capital

The total number of shares outstanding as at July 31, 2017 and September 28, 2017, is 50,584,144. As of July 31, 2017 and September 28, 2017, there were no stock options or warrants outstanding.

Additional information pertaining to the Company is available on the SEDAR website at www.sedar.com

KFG Year End Results (Ending April 30th 2017) + Oil Reserves
All Information Below Can Be Found At www.Sedar.com

Financials + MD&A Summary + 51-101 Reserve Report

Balance Sheet Year End

ASSETS – In US Dollars
Cash: $593,972
Accounts Receivable: $229,863
Prepaid Expenses: $10,497
Exploration & Evaluation Assets: $119,325
Property & Equipment: $477,591
Total Assets: $1,431,248

LIABILITIES – In US Dollars
Accounts Payable: $450,679
Decommissioning Liability: $194,622
Total Liabilities: $645,301

Asset/Debt Ratio: 2.2:1

Revenue
Oil & Gas: $1,184,011
Management Fees: $191,979
Total Revenue: $1,375,990
Total Expenses: $1,865,689
Total Loss: $489,699 - $255,012 Depletion & $81,727 Dry hole Expenses
Loss From G&A: $152,960 – 35% of this from Q1 2016 before initial cost cuts

MD&A Summary

Average Yearly Production: 63.87bopd
Number Of Producing Wells: 22

Oil prices appear to be stabilizing in the mid $45 to $55 range. In June and July 2016, the Company took initial steps to reduce its overhead by $10,800 per month. Additional cuts were made effective June 1, 2017, letting go of two office personnel, and eliminating their health insurance. In addition, key man insurance on both the President and Vice President was terminated. Total savings account for $8,500 per month going forward. Also the small production purchase should increase oil income $1,700 to $2,000 per month at current prices. In addition, KFG has two leases where it’s working interest is between 6 and 9% (the Craig #3 lease and the Barnum lease). Both leases could possibly payout within the next twelve months unless further drilling takes place. At payout, KFG’s working interest would jump to approximately 22%. If the environment stabilizes and continues to improve, KFG will look for reasonable production purchases.

Revenue from the sale of oil and gas was $1,184,011 for the year ended April 30, 2017, compared to $1,380,325 for the year ended April 30, 2016. The decrease in revenue was a result of less production during the year.

Management fee revenue for the year ended April 30, 2017 was $191,979 as compared to $287,841 for the year ended April 30, 2016. The decrease is a result of substantially less work for the Company and others because of low oil prices in the field.

Dry hole costs and abandonments for the year ended April 30, 2017 were $81,727 as compared to $2,690 for the year ended April 30, 2016. The decrease resulted from the write off of two Mississippi projects that were unsuccessful and impairment charges against the oil and gas properties.

Lease operating expenses were $440,783 for the year ended April 30, 2017 compared to $553,808 for the year ended April 30, 2016. The decrease in lease operating expenses is a result of suspending lease operations in certain areas.

General and administrative expenses for the year ended April 30, 2017 were $1,122,564 compared to $1,347,373 for the year ended April 30, 2016. The decrease is a result of terminating two employees during the year and a decrease in insurance premiums.

Depletion and amortization costs for the year ended April 30, 2017 were $225,012 compared to $540,840 for the year ended April 30, 2016, reflecting depletion on the Company’s reserves. The decrease is a result of a decreased cost base subject to depletion and a reduced depletion rate.

The Company reported a net loss of $489,699 for the year ended April 30, 2017 compared to net loss of $777,709 for the year ended April 30, 2016, with the lower net loss arising from reduced operating expenses and reduced depletion.

The total number of shares outstanding as at April 30, 2017 and August 24, 2017, is 50,584,144. As of April 30, 2017 and August 24, 2017, there were no stock options outstanding. There were no warrants outstanding as at April 30, 2017 and August 24, 2017.
Overall Performance

Updating to April 30, 2017, KFG moved its offices to 150-A Providence Rd, Natchez, MS. Office rent is unchanged. Two employees were terminated beginning June 1, 2017 and insurance on the two principal officers was dropped with a total savings going forward of $8,500 per month. The Company has completed a small production purchase for $60,000, payable in three monthly installments of $20,000, equal to approximately 5% of the Company’s production in Jefferson Co., MS. The Company has two projects to drill but has not been able to raise sufficient capital to drill the wells without affecting the Company’s cash position dramatically if the projects are not productive.

KFG 51-101 Reserve Report Ending April 2017
51-101 2017 Net To KFG (Table 1)
Oil
Total Proved Reserves – 80.3 Mbbl
Probable Reserves – 46.6 Mbbl
Total Proved + Probable – 126.8 Mbbl
Natural Gas
Total Proved Reserves – 4.5 MMcf
Net Present Value For 2017 (Table 2) - USD
Total Proved + Probable - $3,635,000

KFG 51-101 Reserve Report Ending April 2016
51-101 2016 Net To KFG (Table 1)
Oil
Total Proved Reserves – 81.3 Mbbl
Probable Reserves – 45.8 Mbbl
Total Proved + Probable – 127 Mbbl
Natural Gas Reserves – 0
Net Present Value For 2016 (Table 2) – USD
Total Proved + Probable - $3,610,000

KFG 51-101 Reserve Report Ending April 2015
51-101 2015 Net To KFG (Table 1)
Oil
Total Proved Reserves – 72.2 Mbbl
Probable Reserves – 56.5 Mbbl
Total Proved + Probable – 128.7 Mbbl
Natural Gas Reserves – 0
Net Present Value For 2015 (Table 2) – USD
Total Proved + Probably - $5,140,000 **Higher oil prices**

KFG acquires working interest in Fayette field

2017-07-12 10:40 MT - News Release

Mr. Robert Kadane reports

KFG PURCHASES WORKING INTEREST AT FAYETTE

KFG Resources Ltd. subsidiary KFG Petroleum Corp., of Natchez, Miss., purchased a 5.47-per-cent working interest in the Fayette field, Jefferson county, Mississippi, effective July 1, 2017. It is payable in three monthly instalments of $20,000 each. Payout, assuming no oil price increases, is 35 months. No debt will be taken on to finance the transaction.

© 2017 Canjex Publishing Ltd. All rights reserved.

KFG Resources' KFG Petroleum to lay off two employees

2017-05-10 08:32 MT - News Release

Mr. Robert Kadane reports

KFG RESOURCES TO ADMINISTER FURTHER COST CUTTING MEASURES

KFG Resources Ltd. subsidiary KFG Petroleum Corp., of Natchez, Miss., has implemented further cost reductions in order to counterbalance the reduction in oil prices. Starting in June, the company overhead will be reduced as two additional employees are released, saving on salaries and insurance.

For the month of March, KFG Petroleum produced an average of 65.4 barrels of oil per day from 19 wells. Management is looking at numerous ways to increase shareholder value. However, there can be no assurance that a deal will be reached. KFG's drilling program is slated to start in the summer, pending the stabilization of oil prices and financing from joint venture partners.

© 2017 Canjex Publishing Ltd. All rights reserved.

KFG April 2017 Company Presentation -

insert-text-here

http://kfgresources.com/wp-content/uploads/2016/09/KFG-April-2017-Company-Presentation.pdf

KFG Resources LTD. Q2 Results (Ending October 31, 2015)

Before reading, as a shareholder you should understand the following:

- All numbers are in US Dollars and therefore the balance sheet and assets do not reflect the true value that KFG is actually worth per share. Being a TSXV listed company, you must convert the numbers to Canadian dollars in order to get a true value
- The company is in such a strong financial position that it will be able to weather this down turn in oil prices better than most junior o&g companies in the lower end market cap range.
- Barnum 4, Drouet and Stockfelt production & revenue, were not added to this quarter, only the costs.

Price: $0.05
Common Shares: 50,584,144
Insider/Institutional Holdings: 17%
Financials(In US Dollars)

Assets
Cash: $1,818,812( $2.5 million CDN or $0.05c a share)
Accounts Receivable: $239,482
Prepaid Expenses: $33,225
Reclamation Bond: $20,000
Property and equipment: $992,051
Total Assets: $3,103,570

Liabilities
Accounts Payable: $1,007,729
Decommissioning Liability: $235,060
Total Liabilities: $1,242,789

It’s good to see that KFG has more than enough cash to cover all liabilities and continue drilling with the excess capital. Revenue was down again this quarter because of oil prices and costs increased substantially due to the fact that several productive wells were charged in the quarter, but cash flow will not be added until Q3. Leasing operations and office expenses increased by over $200,000 which caused the loss in the quarter, otherwise KFG would have been flat for earnings.

Oil and gas revenue: $295,631 (production high but average barrel revenue was lower)
Management fee’s: $185,494(This increased by almost $100,000 which is a great secondary revenue)
Total Revenue: $481,125
Total Expenses: $688,262

MD&A Highlights

During the six months ended October 31, 2015 and 2014, oil and gas was the Company’s main source of revenue, and to a lesser extent management fees. At present rates of production and oil prices, management believes the Company has sufficient cash reserves to finance its activities for the remainder of the fiscal year.

The Company drilled and completed two wells in early 2015, which were not on production until late May and June 2015. Those wells, together with two new wells completed in late September 2015, should add to cash flow and lower overall production cost. The Company is participating in the drilling of new shallow wells in north central Texas, marking KFG’s entry into Texas. The Company has a 14% working interest in this venture. The first well drilled was completed as a dry hole. A second well will be drilled in the first quarter of 2016, as a 2,000’ Dyson Sand test in Archer County, Texas. Depending on the results of this well, the Company may elect to participate in the drilling of additional wells in this venture

The quarter ended October 31, 2014 was the last quarter of prices above $100/bbl and reflected the new production. During the quarter ended January 31, 2015, through to the quarter ended April 30, 2015, further price declines and increased depreciation and amortization occurred as a result of a lower reserve bases. Two wells were drilled in February 2015 but were not put on production until late May 2015. The quarter ended July 31, 2015, saw some stabilization of costs. The current quarter has seen two new wells drilled. The quarter ended October 31, 2015 saw two new wells drilled and one dry hole. New production was after the quarter ended. The Barnum #4 and the Drouet Poole Estate wells are adding to production at present but a price of less than $40/bbl is hurting cashflow.
Liquidity and Capital Resources

The Company’s main sources of liquidity are internally-generated cash flow from its oil and gas operations. Because KFG’s internally-generated cash flow is presently sufficient to fund its overall operating expenses, the Company will not require additional funding from equity capital markets.

KFG had cash at October 31, 2015 of $1,818,812. Although oil prices have collapsed, the Company, through the six months ended October 31, 2015, continues to generate positive cash flow. Two recent wells should help continue the trend. The Company will continue to manage its cash resources and will complete its current drilling program. In addition, the Company is increasing its inventory of projects seeking longer term leases. The Drouet Poole Estate #1 well and the Barnum #4 well are adding to production but is somewhat offset by crude oil prices at $35/bbl.

Share Capital
The total number of shares outstanding as at October 31, 2015 and December 28, 2015, is 50,584,144. As of October 31, 2015 and December 28, 2015, there were no stock options or warrants outstanding.

Outlook
The Company’s cash position going forward will be able to finance all projects internally for the remainder of its fiscal year ending April 30, 2016. The Company drilled and completed two wells in early 2015, which were not on production until late May and June 2015. Those wells, together with two new wells completed in late September 2015, should add to cash flow and lower overall production cost. The Company is participating in the drilling of new shallow wells in north central Texas, marking KFG’s entry into Texas. The Company has a 14% working interest in this venture. The first well drilled was completed as a dry hole. A second well will be drilled in the first quarter of 2016, as a 2,000’ Dyson Sand test in Archer County, Texas. Depending on the results of this well, the Company may elect to participate in the drilling of additional wells in this venture.

KFG unit places Barnum No. 4 on production

2015-12-02 07:29 MT - News Release

Mr. Robert Kadane reports

KFG PUTS BARNUM #4 ON PRODUCTION

KFG Resources Ltd.'s subsidiary, KFG Petroleum Corp., and partners have put the Barnum No. 4 well in Adams county, Mississippi, on production. The well was perforated in the Armstrong sand of the Wilcox formation from 6,784 to 6,786 feet. On Nov. 30 the well started pumping at 9 a.m. and by noon oil was at the surface. By 4 p.m. the well was producing at a 60-barrel-of-oil-per-day rate and by 10 p.m. at a 120 bopd rate. The pumping unit was slowed down at 2 a.m. to an 80 bopd rate and will be produced at that rate until it stabilizes. KFG has a 9.19-per-cent working interest in the well increasing to a 21.6-per-cent working interest if the project pays out. The No. 4 well sets up another location that will probably be drilled in the spring of 2016.

The Drouet Poole Estate No. 1 well continues to produce 60 barrels of oil and 30 barrels of water per day. Completion operations are under way on the Stockfelt No. 1 well.

The Mississippi River has risen unexpectedly delaying the company's 7200 test at N. Fairfview in Adams county, Mississippi. At this writing, KFG has three development wells to be drilled in the spring and summer of 2016.

© 2015 Canjex Publishing Ltd. All rights reserved.

KFG Resources completes Drouet Poole Estate No. 1 well
2015-11-05 10:05 MT - News Release

Mr. Robert Kadane reports
KFG COMPLETES DROUET POOL ESTATE #1 WELL
KFG Resources Ltd.'s subsidiary, KFG Petroleum Corp., and its partners have completed the Drouet Poole Estate No. 1 well, Franklin County, Mississippi, pumping 60 barrels of oil per day and 30 barrels of water a day. The company and partners drilled the No. 2 Poole Estate well as a north offset to the No. 1 and abandoned it last week. KFG owns a 12-per-cent working interest in the well, investing to a 24-per-cent working interest after the No. 1 and the dryhole costs of the No. 2 well are recovered. Future development will depend on how production volume holds up in the No. 1 well.

The Stockfelt No. 1 and the Barnum No. 4 well are in various stages of completion.

In Wilbarger County, Texas, the company has participated in its first exploratory well in the area with a private oil company acting as operator. The company has a 14-per-cent working interest in a 400-acre lease on the Waggoner Ranch and participated in a 2000 Dyson sand test completed as a dry hole. Further evaluation awaits remapping of the area. A second shallow test is scheduled on its Griffin lease several miles away before year's end. Going forward, the company's interest will vary depending on the project.
© 2015 Canjex Publishing Ltd. All rights reserved.

Not a bad update overall. Drouet 2 as a dry well isn't a big loss as they could technically convert it into a salt water well and not only bring up production on Drouet 1, but lower costs on production as well. Stockfelt and Barnum has good oil showings so they should be producers. Texas was the only real disappointment, but the well cost less than $200,000 to do and kfg has 14%, no big loss for a test well. KFG is still producing slightly over 100bopd daily with an operating cost of less than $20 a barrel and getting paid on all 30 producing wells for monthly maintenance as a second revenue stream.

Flagged, your a pump and dumper going from board to board posting on one stock that has nothing to do with KFG. Get lost you scammer!

ERAO...check it out...went from >01 to .12 last year in two days...great new news...get ready for the ride...BUY BUY BUY

KFG Resources working on Barnum No. 4 well completion

2015-10-19 07:40 MT - News Release

Mr. Robert Kadane reports

KFG COMPLETING BARNUM #4, ADAMS COUNTY, MISSISSIPPI

KFG Resources Ltd.'s subsidiary, KFG Petroleum, and its partners have logged and cored several oil zones in its Barnum No. 4 well. Production casing is being run to 6,500 feet for a completion attempt. KFG has a 9.19-per-cent working interest in the well, increasing to 21.6 per cent if the project pays out.

Completion operations are proceeding on the company's previously announced Drouet Poole Estate No. 1 and Stockfelt No. 1 wells. In addition, a location has been staked for the Drouet Poole Estate No. 2 well, which is to be drilled within the next 30 days.

© 2015 Canjex Publishing Ltd. All rights reserved.

KFG's CEO has history in Texas. Grandfather founded Wichita Falls on Oil

I have found an article which links the CEO of KFG Resources back to Texas. This shows how his family has been involved in the Witchita area for almost eighty years. It is very significant because it means the CEO has a better idea of the oil in that area than any other large cap company. After all, Robert Kadane's family created that city because of the industry they started. I confirmed this information with the CEO of KFG Resources, you can always call or email him yourself.


http://www.forttours.com/pages/hmwichita.asp


Kadane Discovery WellMarker Title: Kadane Discovery Well
Address: SH 25, S of Electra
City: Electra
Year Marker Erected: 1978
Marker Location: From Electra take SH 25 about 14 miles south. Marker is located on west side of highway.
Marker Text: Oil development in this part of Wichita County began in 1919 from shallow depths in the KMA Field. As the original wells went dry, and a severe national Depression blighted the country in the 1930s, the oil industry sought new production. The Mangold family, owners of land at this site, offered liberal terms for deeper exploration, but at first found no driller willing to take the risk on the scant capital then available. Finally veteran operator George E. Kadane (1881-1945) and sons Edward, Jack, and Mike had the courage to drill in this area of negative geologic readings. On Nov. 11, 1937, they struck oil at a depth of 3800 feet, bringing in Mangold No. 1 as a gusher. The discovery effected an extension of the KMA Field. This spot was labeled "Kadane Corner" on local maps. Other operators rushed in, starting a new Wichita County boom. Along with a rapid rise in population came new housing construction, new industries, new jobs, and an era of financial growth. In 1942 a test well on the Griffin Ranch came in at 4300 feet. Final development of the field resulted in more than 2000 producing wells in an area of 75,000 acres.


NOTE: George Kadane is Robert Kadane's grandfather.

KFG completing Drouet Poole Estate, Stockfelt wells
2015-10-14 13:29 MT - News Release

Mr. Robert Kadane reports
KFG OPERATIONS UPDATE
KFG Resources Ltd.'s subsidiary, KFG Petroleum Corp. (and partners), is completing its Drouet Poole Estate No. 1 well in Franklin county, Miss. Production rates will be reported in the next couple of weeks. The company owns a 12-per-cent working interest in the well which will revert to 24 per cent if the well pays out. In addition, completion of the company's Stockfelt No. 1 well, in Adams county, is under way. The company owns a 13-per-cent working interest in this well, before payout, and a 20.25-per-cent working interest if the well pays out. The company is currently waiting on additional equipment essential in completing the well.

KFG Petroleum Corp. is being qualified to do business in the state of Texas. A joint venture agreement has been signed with a private oil and gas exploration company located in Wichita Falls, Tex., to participate as a non-operating working interest partner in two shallow oil tests in Archer and Wilbarger counties in north Texas. Details will follow when the projects are completely ready to drill. Currently, the best estimate is early to mid-November, 2015.
© 2015 Canjex Publishing Ltd. All rights reserved.