Niko Resources Ltd.: Qara Dagh Block

Niko Resources Ltd.:  Qara Dagh Block 
CALGARY, ALBERTA -- (Marketwire) -- 11/14/12 -- Niko Resources Ltd.
("Niko" or the "Company") (TSX:NKO), announces that, along with its
consortium partners, Niko has entered into a relinquishment and
termination agreement (the "Relinquishment Agreement") with the
Kurdistan Regional Government ("KRG") to surrender their collective
interests in the Qara Dagh Block located in the Kurdistan Region of
Iraq.  
The Relinquishment Agreement is clear that none of the consortium
partners will have any future obligations or liabilities with regard
to the original production sharing agreement.  
Pursuant to the Relinquishment Agreement, and after settlement of
outstanding expenses, Niko expects to recover a net amount of USD
$14.9 Million. 
Forward-Looking Information  
Certain statements in this press release constitute forward-looking
information. Specifically, this press release contains
forward-looking information relating to planned drilling activities
and the Company's exploration strategy in Indonesia and anticipated
cost savings based on past drilling experiences. These
forward-looking statements are based on certain key expectations and
assumptions, including management's interpretation of the geology
relating to the Company's blocks in Indonesia, anticipated costs
relating to mobilization and drilling with the Ocean Monarch drilling
rig and anticipated drilling conditions. The reader is cautioned that
the assumptions used in the preparation of such information, although
considered reasonable at the time of preparation, may prove to be
incorrect. Actual results may vary from the information provided
herein as a result of numerous known and unknown risks and
uncertainties and other factors and such variations may be material.
Such factors include, but are not limited to: the results of
exploration and development drilling and related activities; changes
in capital programs; the uncertainty of estimates relating to costs
and expenses; risks associated with oil and gas operations including
equipment failures or accidents; the ability of suppliers and third
party contractors to meet commitments; pressure or irregularities in
geological formations; and adverse weather conditions. Niko makes no
representation that the actual results achieved during the forecast
period will be the same in whole or in part as those forecast.
Contacts:
Niko Resources Ltd.
Edward Sampson
Chairman of the Board, President & CEO 
Niko Resources Ltd.
Murray Hesje
Niko Resources Ltd.
(403) 262-1020
www.nikoresources.com
 
 
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