Niko Announces Indian Press Reports Indicating Approval of Increased Gas Price for D6 Gas Sales

Niko Announces Indian Press Reports Indicating Approval of Increased Gas Price 
for D6 Gas Sales 
CALGARY, ALBERTA -- (Marketwired) -- 06/27/13 -- Niko Resources Ltd.
("Niko" or the "Company") (TSX:NKO) announces that press reports in
India are indicating that the Cabinet Committee of Economic Affairs
("CCEA") of the Government of India has approved a new pricing
formula for domestic gas sales in India. The pricing formula is based
on the average of the prices of imported LNG into India and the
weighted average of gas prices in North America, Europe and Japan.
For the D6 Block in India, the pricing formula will be effective on
April 1, 2014 upon expiry of the current gas sales contracts on March
31, 2014. Based on information provided in the press, the gas price
as at April 1, 2014 will be around $8.40 / MMbtu, double the price of
$4.20 / MMbtu for current gas sales from the D6 Block, and prices are
expected to be revised quarterly using the approved formula. 
Details of the CCEA decision are expected to be released in the next
few days. 
Forward-Looking Information  
Certain statements in this press release constitute forward-looking
information. 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
forward looking information, although considered reasonable at the
time of preparation, may prove to be incorrect. Actual results
achieved 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.
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
 
 
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