Reliance Industries announced a multi block partnership with BP. As a result, Niko can acquire up to a 30% increase from current working percentages in all or any one of its stakes in D6, NEC 25 and D4. Niko will be reviewing this opportunity over the coming weeks.
The new relationship with the additional deep water expertise of BP and Reliance as operator is viewed very positively by Niko.
Niko Resources Ltd. is focused on sustained growth through successful exploration. The Company is currently one of the largest non-government landowner in both Indonesia and Trinidad. Fuelled by the success of its key natural gas properties, Niko is determined to continue its role as a leader in the field of international oil and natural gas exploration and production.
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Source:Niko, February 23, 2011;