Kfgrf - Kfg Resources Ltd.

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  1. Jon Alba

    Jon Alba Senior Investor

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  3. Jon Alba

    Jon Alba Senior Investor

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    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.

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  4. Jon Alba

    Jon Alba Senior Investor

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    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.

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  5. Jon Alba

    Jon Alba Senior Investor

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    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

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