Niko Brings Feni Gas Field Onstream in Bangladesh



Niko Resources reports first production from its Feni discovery at a start up rate exceeding 20 million cubic feet per day.

A second gas plant has left Canada today, which will allow the Company to double capacity. The plant is expected to be operational in January 2005. Niko has drilled and is currently logging its third well in Feni and results are expected prior to months end.

Niko has reached an agreement with the Government of Bangladesh to purchase up to 50 million cubic feet per day from Feni. Niko is currently finalizing the gas sales price.

Niko is the operator of the field and holds an 80 percent working interest. Niko's current net production is 70 million cubic feet per day, a record high for the Company.
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