Niko Resources

Latest Niko Resources News

• The well is located approximately 18 kilometers from the Arun field that is supported by an underutilized LNG plant.
• The Candralila-1 well is the first of two wells to be drilled back to back on the block using the Hercules 208 jack-up rig.

• The block is located directly adjacent to the giant Arun field (>3.1BBOE) and associated LNG plant. A 3865km2 3D program was acquired on the block and a number of high impact prospects were subsequently identified.
• Niko's deep water rig, the Diamond Ocean Monarch, is scheduled to arrive in Lhokseumawe in September to drill the Jayarani-1 well.

• Niko anticipates a drop in its reserves for the D1/D3 fields.

• Niko Resources Ltd. Niko Resources Ltd. announce that it has entered into an agreement for credit facilities totaling USD $250 million.

• Niko Resources is approved the assignment to Niko of an interest in the Mayaro-Guayaguayare Bay block.
• The block lies between the onshore Beach and Balata East producing oil.
• Niko will operate and hold a 70% interest.

• Groundstar Resources joins with its partners, Niko Resources and Vast Resources to proceed operations at Qara Dagh, where site-preparation, engineering and logistics will be carried out in the first half of 2012.

• Eni has been awarded two new Production Sharing Contracts in Indonesia.
• It is the block is 10 km east of the tangguh lng processing facility the work program foresees the acquisition of 2d and 3d seismic and the drilling of two wells during the first 3 years of exploration.
• In the offshore East Kalimantan Province, Kutei Basin, Eni, as part of a consortium including Niko Resources, North Ganal Energy, Statoil Indonesia North Ganal and GDF SUEZ, has been awarded the North Ganal PSC. Eni will be the Operator. The North Ganal

• The North Ganal PSC, located in the highly prolific deep water petroleum province of East Kalimantan, was awarded to a consortium of five companies consisting of subsidiaries from Niko, Eni, Statoil, GDF SUEZ and Black Platinum Energy.
• Niko is now a participant in 18 indonesian pscs covering over 90,000 square kilometers or 22 million acres and the company maintains its position as the largest holder of deep water exploration acreage in indonesia.

• Niko has spudded its first offshore well in Trinidad. The Rowan Gorilla III rig is on location at the Stalin prospect, which is the first of three wells planned for Block 2ab located off Trinidad and Tobago's eastern continental shelf.
• The well is being drilled in 100 feet of water to a total depth of 8800 feet and will test a large anticlinal feature made up of multiple thrust sheets. Niko's estimate is a target of 600 to 800 million gross unrisked in-place barrels of oil equivalent.

Niko Resources Who's Who

Niko Resources Offices