|Bid||0.04 x 0|
|Ask||0.05 x 0|
|Day's Range||0.0400 - 0.0400|
|52 Week Range||0.0400 - 0.0700|
|Beta (3Y Monthly)||0.01|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
NATCHEZ, Miss. , Oct. 3, 2018 /PRNewswire/ -- 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 . The share buyback proposal was passed by the KFG's Board Meeting at its annual stockholder meeting. When all paperwork has been completed details will be announced. Also, capital is being raised from oil industry partners for the project in Graham, Texas to re-enter and recomplete 3 wells with an option to recomplete 2 additional wells. The #5 Barnum well in Adams County, MS was completed as a dryhole to 6400'. KFG had a 22.5% working interest in the well.
KFG Resources Ltd (CVE:KFG), which has zero-debt on its balance sheet, can maximize capital returns by increasing debt due to its lower cost of capital. However, the trade-off is KFG Read More...
NATCHEZ, Miss. , Sept. 11, 2018 /PRNewswire/ -- 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. Also, KFG has entered into a farmout agreement with Tracer Operating Company, Graham, Texas to recomplete 3 shallow gas & oil wells with an option to recomplete 3 additional wells. These are shallow recompletions (3600'-4500') in Palo Pinto and Stephens County , Texas. Capital is now being raised for this venture.
NATCHEZ, Miss. , July 25, 2018 /PRNewswire/ -- 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. KFG's Craig lease will payout shortly and a news release will be put out when that occurs. Additional projects are now under review with the improved pricing environment. The Company's common shares are listed on the TSX Venture Exchange, Vancouver, B.C. , trading symbol "KFG".