Niko Frees Restricted Cash

Niko Resources Ltd. has amended its existing credit facility. The amendment will immediately release approximately $40 million to unrestricted cash and allow the Company to use the remaining restricted cash of approximately $200 million to fully fund D6 capital expenditures for the MA oil field and the Dhirubhai 1 and 3 gas fields. As a result, the Company plans to meet its commitments with cash on hand and funds from operations.

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