KFG Resources Ltd (V:KFG*CA)

Business Focus: Natural Gas Exploration & Production - Onshore

Jun 27, 2019 03:13 pm ET
KFG Resources Ltd. Operations Update
NATCHEZ, Miss., June 27, 2019 /CNW/ -- Robert A. Kadane, CEO of KFG Resources Ltd. reported today a rework in Jefferson Co, MS.  The Spring Hill #1 well was put back on production for 10 to 15 BOPD.  KFG owns a 67.5 net revenue interest.  In addition, the #4 Barnum well (KFG owns a 16.9% NRI) is scheduled to be reperforated in July in an attempt to increase production.
Feb 22, 2019 08:42 am ET
KFG Resources Ltd. Purchases Production in Saskatchewan
NATCHEZ, Miss., Feb. 22, 2019 /CNW/ -- Robert A. Kadane, CEO of KFG Resources Ltd. reported today that the Company completed a production purchase in western Saskatchewan.  A financial partnership was formed with Hillcrest Petroleum whereby the Company purchased 15% of Hillcrest's position in its West Hazel assets which amounts to 75% of the total interest available.  Total consideration paid by the company to Hillcrest was $150,000 CDN (approximately $113,000 USD).  Four shut-in wells are being reentered and returned to production after being shut-in for four (4) years.  It will take a few
Jan 10, 2019 04:43 pm ET
KFG Resources Announces Intention to Commence Normal Course Issuer Bid
NATCHEZ, MS, Jan. 10, 2019 /CNW/ - KFG Resources Ltd. ("KFG" or the "Company") is pleased to announce that the TSX Venture Exchange ("TSX-V") has accepted the Company's notice of intention to make a normal course issuer bid (the "NCIB") for common shares in the capital of the Company (the "Common Shares") 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 ap
Oct 03, 2018 09:30 am ET
KFG Operations Update
NATCHEZ, Miss., Oct. 3, 2018 /CNW/ -- KFG Resources, Ltd. President, Robert A. Kadane, reported today that the Company's subsidiary, KFG Petroleum Corporation, (Natchez, MS) recorded revenues for its quarter ended July 31, 2018 of $397,520 vs. $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 2 to 1 for the quarter ended July 31, 2018.
Sep 20, 2018 09:30 am ET
KFG Operations Update
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).
Sep 11, 2018 09:30 am ET
KFG Operations Update
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.
Jul 25, 2018 01:00 pm ET
KFG Resources acquires permit to drill Barnum #5 well
NATCHEZ, Miss., July 25, 2018 /CNW/ -- KFG Resources Subsidiary, KFG Petroleum Corp. of Natchez, MS has permitted the Barnum #5 well in Adams County, MS.  It will be a 6500' 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% to 22.5% WI and from 6.89% net revenue interest to 16.875 net.
Nov 06, 2017 03:19 pm ET
KFG Operations Update
NATCHEZ, Miss., Nov. 6, 2017 /CNW/ -- KFG Resources President, Robert A. Kadane, reported that the Company's subsidiary, KFG Petroleum Corporation (Natchez, MS) abandoned its Hogue Estate #1 well in Adams County, MS 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.
Oct 19, 2017 10:30 am ET
KFG To Drill 7200' Wildcat Well, Adams County, MS
NATCHEZ, Miss., Oct. 19, 2017 /CNW/ -- KFG Resources President, Robert A. Kadane, reported that the Company's subsidiary, KFG Petroleum Corporation (Natchez, MS) is set to drill a 7200' wildcat well in Adams County, MS testing several Wicox sands that have produced in the immediate area.  The Hogue Estate#1 well is located in Adams Co., MS on a 300 acre lease burdened with a 25% royalty, leaving the Company with a 75% net revenue interest.  KFG has taken on partners and will have no exposure in the drilling of the well to total depth, and will recover approximately $10,000 from reimbursement
Jul 12, 2017 12:25 pm ET
KFG Purchases Working Interest at Fayette
NATCHEZ, Miss., July 12, 2017 /CNW/ -- KFG Resources Ltd. President, Robert A. Kadane, announced today that the Company's subsidiary, KFG Petroleum Corporation, Natchez, MS. purchased a 5.47 working interest in the Fayette Field, Jefferson County, MS. effective July 1, 2017.  It is payable in three monthly installments of $20,000 each.  Payout, assuming no oil price increases, is 35 months.  No debt will be taken on to finance the transaction.
May 10, 2017 10:30 am ET
KFG Resources to administer further cost cutting measures
NATCHEZ, Miss., May 10, 2017 /CNW/ -- KFG Resources Ltd. subsidiary KFG Petroleum Corp., of Natchez, MS has implemented further cost reductions in order to counter balance 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.
Nov 03, 2016 04:29 pm ET
KFG Update
NATCHEZ, Miss., Nov. 3, 2016 /CNW/ -- KFG Resources Ltd., President, Robert A. Kadane, stated that its subsidiary, KFG Petroleum Corporation, Natchez, MS, is in the process of attempting to fund its drilling and development program.  The current environment is extremely difficult and it may be the first quarter of 2017 before sufficient drilling funds have been raised to protect the Company's cash position.
Oct 07, 2016 10:30 am ET
KFG Resources Ltd. Appoints Haney, Grassi to the Board of Directors
NATCHEZ, Miss., Oct. 07, 2016 Robert A. Kadane, President of KFG Resources Ltd., welcomes Kevin Haney and Giacomo Grassi to its Board of Directors.  The following are brief biographies of KFG's new directors.
Jun 27, 2016 03:24 pm ET
KFG Resources Announces Adoption of Advance Notice Policy
NATCHEZ, Miss., June 27, 2016 /CNW/ -- KFG Resources Ltd ("KFG Resources" or the "Company") today announced that its Board of Directors has adopted an advance notice policy regarding the nomination of directors (the "Advance Notice Policy"). The purpose of the Advance Notice Policy is to provide shareholders, directors and management of the Company with a clear framework for nominating directors of the Company.
May 06, 2016 02:25 pm ET
KFG Operations & Drilling Program Update
NATCHEZ, Miss., May 6, 2016 /CNW/ -- KFG Resources Ltd President, Robert A. Kadane, announced today that KFG's subsidiary, KFG Petroleum Corporation of Natchez, MS will restart its drilling program in Mississippi and Texas this summer, assuming oil prices stabilize around $40/bbl.