Niko Spins Bit at Indonesia Well

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Niko Resources Ltd. announced the spudding of the Ajek-1 well in the Kofiau block in Indonesia on Dec. 12, 2012.

The Ajek-1 well is to be drilled to a depth of approximately 5,900 feet and is expected to take 40 to 45 days.

The move of approximately 2,400 nautical miles from Western Indonesia to Eastern Indonesia took only 23 days, much faster than originally anticipated, demonstrating the continued enhanced operational efficiency of the drilling rig Ocean Monarch (UDW semisub) and Niko's Indonesian drilling team.

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