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Niko Provides Updates

Niko Provides Updates 
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: 
D6 Block 
The Company's estimate of its share of planned capital spending for
the D6 Block is $35 to $45 million for the fiscal year ended March
31, 2014, and $40 to $50 million for the fiscal year ended March 31,
2015. These figures include estimated costs for the following planned
capital projects: 


 
--  D1 D3 producing field - water handling and compression 
--  MA producing field - an additional gas production well and compressor
    modifications 
--  R-Series development - field development plan ("FDP") submitted in
    January, 2013 
--  Satellite Area development - FDP approved 
--  Other Satellite Area - pre-development costs 
--  D1 D3 exploration - drilling of the MJ-1 prospect

 
NEC-25 Block 
The Company's estimate of its share of planned capital spending for
the NEC-25 Block is $3 to $5 million for the fiscal year ended March
31, 2014, and $5 to $10 million for the fiscal year ended March 31,
2015. These figures include estimated costs for the NEC-25
development project (FDP to be submitted by March, 2013). 
The level of capital spending in India for fiscal 2014 and fiscal
2015 is subject to a number of factors, including significantly
improved pricing for natural gas produced in India, regulatory and
government approval of the various capital projects, and refinement
of project expenditure forecasts for the R-Series, Satellite Area and
NEC-25 development projects. 
Farm-outs, Asset Dispositions and Other Arrangements 
The Company has signed an agreement to receive a total of
approximately $50 million in two tranches from a former partner in
exchange for assuming the partner's obligation for future drilling
commitments. The initial tranche of $25 million is to be received by
March 15, 2013. 
For the Qara Dagh Block in Kurdistan, the Kurdistan Regional
Government ("KRG") has announced that they have agreed all of the
terms and awarded the Qara Dagh block to Chevron. Receipt of
approximately $15 million net to Niko is to occur within 60 days of
the earlier of (i) formal signing of the production sharing contract
between the KRG and Chevron, or (ii) May 31, 2013.  
The Company is currently in negotiations with various third parties
regarding farm-outs and non-core asset dispositions and the Company
is confident that the combination of ongoing funds from operations
from its producing properties and the proceeds it expects to receive
from some or all of the farm-outs, asset dispositions and other
arrangements that the Company has been working on will provide
appropriate funds for the Company's capital spending plans. 
February 21, 2013 
Forward-Looking Information  
Certain statements in this press release constitute forward-looking
information. Specifically, this press release contains forward
looking information relating to capital spending plans and receipt of
proceeds related to farm-outs, asset dispositions and other
arrangements. These forward looking statements are based on certain
key expectations and assumptions of management. 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 achieved
during the forecast period 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: regulatory and
government approvals; general economic, market and business
conditions; industry capacity; competitive action by other companies;
risks and uncertainties associated with the debt and equity capital
markets and other sources of financing; and other factors, many of
which are beyond our control. 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,
(403) 262-1020 
Niko Resources Ltd.
Glen Valk
VP Finance & CFO
(403) 262-1020
www.nikoresources.com