Niko Strikes Again in New Exploration Block NEC 25

Niko Resources has made three new gas discoveries in the NEC-25 block off the west coast of India.

The three wells were drilled in water depths of 64 - 84 meters. Initial in-place reserves estimates, by the operator, for the three wells is approximately 1 trillion cubic feet of gas. The operator estimates the potential gas in-place, based on seismic and other studies, may be 4 to 5 trillion cubic feet of natural gas. Further details on the discoveries will be released when available.

Niko has a 10 percent working interest in the NEC Block with the operator Reliance Industries Limited.