KFG Resources Ltd Announces Restart Its Drilling Program in Mississippi and Texas
KFG Resources Ltd. will restart its drilling program in Mississippi and Texas this summer, assuming oil prices stabilize around $40/bbl. It is anticipated that the Stockfeldt well will be completed and two projects drilled in Mississippi as well as two projects in Texas. KFG will retain a 12% to 15% working interest in the projects. Also, the Company is pumping a well and salt water well in Wilkinson County, Mississippi, where it doesn't own an interest but will collect an overhead fee going forward, operating the wells for other individuals. As a inal note, company overhead is being looked at with an eye toward reducing costs.