JonnyRBuck12 Wednesday, 05/10/17 11:03:45 AM Re: None Post # of 103 KFG Resources' KFG Petroleum to lay off two employees 2017-05-10 08:32 MT - News Release Mr. Robert Kadane reports KFG RESOURCES TO ADMINISTER FURTHER COST CUTTING MEASURES KFG Resources Ltd. subsidiary KFG Petroleum Corp., of Natchez, Miss., has implemented further cost reductions in order to counterbalance the reduction in oil prices. Starting in June, the company overhead will be reduced as two additional employees are released, saving on salaries and insurance. For the month of March, KFG Petroleum produced an average of 65.4 barrels of oil per day from 19 wells. Management is looking at numerous ways to increase shareholder value. However, there can be no assurance that a deal will be reached. KFG's drilling program is slated to start in the summer, pending the stabilization of oil prices and financing from joint venture partners. © 2017 Canjex Publishing Ltd. All rights reserved.