CALGARY, ALBERTA -- (Marketwired) -- 06/27/13 -- Niko Resources Ltd. ("Niko" or the "Company") (TSX: NKO) announces that press reports in India are indicating that the Cabinet Committee of Economic Affairs ("CCEA") of the Government of India has approved a new pricing formula for domestic gas sales in India. The pricing formula is based on the average of the prices of imported LNG into India and the weighted average of [...]
Niko Resources is pleased to announce today that it has closed a private placement of US$63.5 million principal amount of 7% senior unsecured notes to a group of institutional investors. The Notes bear interest at 7.00% per annum, payable monthly, and will be repaid through twelve equal monthly principal payments commencing August 13, 2013. Principal and interest payments are payable in cash or, at the Company's option [...]
Niko Resources is pleased to provide the following updates: The Company has received the final draft of the reserve evaluations for the D6 and NEC-25 Blocks in India and Block 5(c) in Trinidad and Tobago, and the final reserve evaluation for Block 9 in Bangladesh from independent petroleum engineering firms. The evaluations for the D6 and NEC-25 Blocks in India and Block 5(c) in Trinidad and Tobago are subject to final [...]
CALGARY, ALBERTA -- (Marketwired) -- 05/24/13 -- Reliance Industries Limited (RIL) and its partners BP and NIKO (TSX: NKO) today announced a significant gas and condensate discovery in the KG D6 block off the eastern coast of India.
The KGD6-MJ1 well was drilled in a water depth of 1,024 metres - and to a total depth of 4,509 metres - to explore the prospectivity of a Mesozoic Synrift Clastic reservoir lying over 2,000 [...]
CALGARY, ALBERTA -- (Marketwire) -- 04/01/13 -- Niko Resources Ltd. ("Niko" or the "Company") (TSX: NKO), is pleased to announce that the field development plan for the NEC-25 Block in India was submitted on March 28, 2013 to the Government of India for approval.
An independent reservoir engineering firm is currently working on their reserves and economic evaluation for Niko's interest in the NEC-25 Block, and with [...]
CALGARY, ALBERTA -- (Marketwire) -- 03/27/13 -- Niko Resources Ltd. ("Niko" or the "Company") (TSX: NKO), provides the following corporate updates:
Proposed Sales of Certain Non-core Assets for $157 Million
Niko is in advanced negotiations with two separate third parties for the sales of certain non-core assets for combined sales proceeds of $157 million. The Company is working towards signing of definitive sale and [...]
CALGARY, ALBERTA -- (Marketwire) -- 03/20/13 -- Niko Resources Ltd. ("Niko" or the "Company") (TSX: NKO), is pleased to provide the following exploration updates:
Indonesia
The Cikar-1 exploration well, located in the West Papua IV block in eastern Indonesia, has been drilled to a depth of 14,431 feet and temporarily suspended after encouraging initial results. The suspension will allow Niko to return to the well for [...]
CALGARY, ALBERTA -- (Marketwire) -- 03/08/13 -- Niko Resources Ltd. ("Niko" or the "Company") (TSX: NKO), is pleased to provide updated forecasts for the fourth quarter of fiscal 2013 and forecasts for fiscal 2014 and fiscal 2015.
Forecasts for Fourth Quarter of Fiscal 2013
Sales volumes for the fourth quarter of fiscal 2013 are now forecast to be approximately 126 MMcfe/d, as a result of reservoir management [...]
CALGARY, ALBERTA -- (Marketwire) -- 02/22/13 -- Niko Resources Ltd. ("Niko" or the "Company") (TSX: NKO), is pleased to provide the following updates.
Planned Capital Spending in India for Fiscal 2014 and Fiscal 2015
Subject to significantly improved pricing for natural gas produced in India, the Company's estimate of its share of planned capital spending in India is as follows:
CALGARY, ALBERTA -- (Marketwire) -- 02/14/13 -- Niko Resources Ltd. (TSX: NKO) ("Niko" or the "Company") is pleased to report its financial and operating results, including consolidated financial statements and notes thereto, as well as its managements' discussion and analysis, for the three and nine month periods ended December 31, 2012. The operating results are effective February 13, 2013. All amounts are in U.S [...]
CALGARY, ALBERTA -- (Marketwire) -- 01/10/13 -- Niko Resources Ltd. ("Niko" or the "Company") (TSX: NKO), provides the following exploration updates:
Indonesia
The Ajek-1 exploration well in the Kofiau block, located offshore Papua province in eastern Indonesia, was drilled to a depth of 6,270 feet in 25 days, 32% faster than planned, and encountered 23 feet of pay over two target intervals, with additional thin [...]
CALGARY, ALBERTA -- (Marketwire) -- 12/12/12 -- Niko Resources Ltd. ("Niko" or the "Company") (TSX: NKO), is pleased to announce the spudding of the Ajek-1 well in the Kofiau block in Indonesia on 12/12/12.
The Ajek-1 well is to be drilled to a depth of approximately 5,900 feet and is expected to take 40 to 45 days.
The move of approximately 2,400 nautical miles from Western Indonesia to Eastern Indonesia took only 23 [...]
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