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Niko Reports Results for the Quarter Ended June 30, 2010
Aug. 12, 2010 11:45AM PST
Oil and Gas Investing
Niko Resources Ltd. (TSE:NKO) reported its financial and operating results, including consolidated financial statements and notes thereto, as well as its managements’ discussion and analysis, for the quarter ended June 30, 2010, the first quarter of Niko’s fiscal year.
Niko Resources Ltd. (TSX:NKO) reported its financial and operating results, including consolidated financial statements and notes thereto, as well as its managements’ discussion and analysis, for the quarter ended June 30, 2010, the first quarter of Niko’s fiscal year.
The press release is quoted as saying:
Four new exploration blocks were added offshore Indonesia. Three of the blocks are adjacent to the Company’s Cendrawasih block and the fourth is in the Sunda Strait which is in proximity to Jakarta. Seismic acquisition activity continued at Indonesia and Madagascar and a 3D seismic contract has been awarded in Trinidad. Drilling success continued at D6 where the Company continues to expect significant reserve additions once development plans are prepared and approved. Like D6, drilling success continued at NEC-25 where development plans are expected once appraisal is completed. At Hazira, two wells encountered a new oil bearing interval that awaits further evaluation. Drilling continues at the Company’s Kurdistan property.
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