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KFG Resources Ltd. V.KFG

KFG Resources Ltd is a North American based company. It is primarily engaged in the production of crude oil and natural gas in the United States. It has developed onshore oil and gas reserves with activities concentrated in Concordia, Catahoula Parishes, Louisiana, Wilkinson Counties, Mississippi, Comanche County and, Kansas. Also, the company is focused on participating in the drilling of shallow wells in north-central Texas.


TSXV:KFG - Post by User

Post by MiningMasterAuon Oct 01, 2019 12:00pm
91 Views
Post# 30182354

financials out

financials outtiny profit, but keeping in mind that some wells were offline in that quarter. Still got 3 projects on the go. MD&A highlights:

Page 3: A workover on the Barnum #4 well into a new zone should increase production on that lease. Also, the MacNeil #2 and #3 wells have been returned to production. Both were off production during the quarter because of high water.

Page 6: The outlook for the Company’s recent purchase of production in Canada remains favourable. The price dip has hurt cash flow for the last quarter but hopefully increased production will make up for it. Another well this fall in Saskatchewan will significantly improve those economics. KFG has agreed to participate with another company in a well in Wilkinson County, MS in the fall of 2019 with a 6% working interest for $48,000 to casing point. KFG is hopeful the new production with a firmer price will return the Company to a better cash flow position.
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