Niko Updates on International E&P Activities

Niko Resources has provided the following exploration update for its international upstream oil and gas activities.


  • NEC 25 block--AJ3 has just been drilled as a successful exploration well. The AJ5 exploration well is currently drilling and will be followed by at least one additional exploratory well.
  • D6 block--six additional exploration/appraisal wells will be drilled this year.
  • D4 block--3 drilling locations have been selected. Drilling is planned to commence in the third calendar quarter.


  • The rig for the first well is expected to arrive on location in mid March and lease preparation is underway.


  • The vessel for the multi-beam survey is in country and deployment to the block will occur this week. This will be immediately followed by coring of the seabed utilizing Niko's unique SeaSeepTM technology. Coring will occur at locations determined by the multi-beam survey. All multi-beam and coring work will be completed by March 2010.
  • A seismic vessel is due to arrive and start a 3,000 sq km 3D survey early April. Completion will take approximately three months.


  • The areo-gravity survey has commenced and will be completed by the end of the month.
  • Tender requests for 864 sq kms of 3D seismic are out to bid with responses expected this month.


2D seismic program

  • Completed approximately 6000 km of the planned 24,500 km program. (West Sageri, SE Ganal, and South Matindok blocks are complete and the Bone Bay block is in progress).

3D seismic program

  • Completed approximately 3100 sq kms of the planned 10,300 sq km program. (West Sageri and SE Ganal blocks are complete).

Balance of programs will be completed by mid year.