Friday, April 1, 2011

Niko Resources reported third quarter results 2010; Hydrocarbon production up 42% over nine months ended 2009; Plan to drill 30 exploration wells by the end of 2012

Niko’s nine months production was 300,469 mcfepd up 42% over same periods in the prior year (2009: 211,630 mcfepd). This is due to increase in production from D6 block. The company has 36 active exploration blocks in Indonesia, Trinidad, India, Kurdistan, Madagascar, Pakistan and Bangladesh.

Niko planned seismic and drilling operations for 2011-2012. The company has exploration blocks in Indonesia, Trinidad and India.
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Niko in Indonesia:

Niko planned drilling program on 14-16 wells for the year 2011. Multiple wells committed in South East Ganal and West Sageri blocks.

Niko in Block D6
Niko has 10% working interest in D6 Block. The block has 23 undeveloped exploration successes and the company plans to achieve additional exploration prospects from this block.

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