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Forum - Mining and Commodities Eh! (KFG Resources Ltd - KFG.V)    All things commodities, with a Canadian Junior Miner focus.

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From: Jimjones1972 (Rep: 3) reply to Jimjones1972Date: 02/21/2020 09:07
Forum: Mining and Commodities Eh! - Msg #6466 - List KFG.V msgs Thread #673875762 (Rec: 0)
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.





Reply to Jimjones1972 - Msg #6450 - 02/05/2020 10:27

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

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.
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