Niko Resources Completes 6 More Wells on Surat Block

Niko Resources has completed the drilling of 6 additional wells on the Company's 100% owned Surat Block onshore India.

Well NS-A1 flowed 6.7 mmcf/d through perforations over the gross interval 195-240 meters. Well NS-A2 flowed 4 mmcf/d through perforations over the interval 203-223 meters. Well NS-A3, encountered gas on the edge of the structure and confirmed the field gas water contact. These well results combined with the earlier results from NS-4 confirm discovery of a 16 square kilometer shallow gas field with net gas pays up to 35 meters thick.

Wells NS-5, NS-6 and NS-7 were abandoned with NS-5 recovering 28 API oil in sub commercial quantities. The Company is currently drilling NS-8.

Robert Ohlson, the Company's President stated, "We are extremely pleased with our discovery. These are exceptional flow rates for shallow wells indicative of excellent reservoir and sizable reserves. We expect this low cost field to be on production by November".


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