Niko Provides Forecast Information

Niko Provides Forecast Information 
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
activities in the D6 Block in India. These reservoir management
activities are not expected to impact the overall recoverable reserve
volumes for the producing fields in the D6 Block. 
Funds from operations for the fourth quarter of fiscal 2013 are now
forecast to be approximately $22 million.  
For the quarter, capital expenditures, net of proceeds of farm-outs
and other arrangements, are now forecast to be approximately $29
Forecasts for Fiscal 2014 and Fiscal 2015 
Annual average sales volumes are forecast to be 122 MMcfe/d for
fiscal 2014 and 133 MMcfe/d for fiscal 2015. While sales volumes will
be lower in India in the early part of fiscal 2014, the Company's
annual average sales volumes for each year will benefit from
workovers and other development activities currently being planned
for the producing fields in the D6 Block in India and in Block 9 in
For fiscal 2014, funds from operations are forecast to be
approximately $88 million. For fiscal 2015, funds from operations are
forecast to approximately double, reflecting the Company's estimate
of the projected benefit of improved pricing for natural gas sales in
The Company's minimum level of capital expenditures, net of
negotiated farm-outs and other arrangements, and workover
expenditures, is forecast to total approximately $130 million for
fiscal 2014. The Company is currently in negotiations with various
third parties regarding farm-outs and non-core asset dispositions.
The Company has received significant offers on certain non-core
assets in its portfolio and is currently evaluating these offers. 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. Decisions
about additional capital spending during the year will be made as the
year progresses. 
March 8, 2013 
Forward-Looking Information  
Certain statements in this press release constitute forward-looking
information. Specifically, this press release contains forward
looking information relating to forecast sales volumes, funds from
operations, 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, including management's estimated amounts and timing of
capital and workover expenditures, estimates of future production and
sales volumes, estimates of future commodity sales prices,
anticipated operating costs, royalty rates, cash flows,
transportation plans and capacity, anticipated access to
infrastructure, or other expectations regarding future events. 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: general economic,
market and business conditions; industry capacity; competitive action
by other companies; fluctuations in oil and gas prices; the results
of exploration and development drilling and related activities; the
uncertainty of estimates and projections relating to production,
costs and expenses; fluctuations in currency exchange rates; the
imprecision in reserve estimates; risks associated with oil and gas
operations, such as operational risks in exploring for, developing
and producing crude oil and natural gas; risks and uncertainties
involving geology of oil and gas deposits; the weather in our area of
operations; the ability of suppliers to meet commitments; changes in
environmental and other regulations; actions by governmental
authorities including changes in laws and increases in taxes;
decisions or approvals of judicial or administrative tribunals; risks
in conducting foreign operations (for example, political and fiscal
instability or the possibility of civil unrest or military action);
the effect of acts of, or actions against international terrorism;
uncertainties associated with negotiations with commercial parties;
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
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
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