Niko Makes Significant Gas Discovery in Bangladesh

Niko Resources has made the most successful gas discovery to date in the Feni Block onshore Bangladesh.

The Feni 4 well was directionally drilled to a total depth of 3,100 meters following the acquisition of a new 3D seismic program.

Multiple prospective sands were encountered. Two cased-hole equipment constrained production tests flowed gas at a cumulative 32 million cubic feet per day from previously untested zones. Each zone produced gas at 16 million cubic feet per day. Additional potential gas-bearing zones are currently being tested.

Production facilities have been installed and the well will be put on production with Feni 3 after the rig has been moved to the Feni 5 drill site.

Niko is the operator of the field and holds an 80 percent working interest.