SOURCE: Niko Resources Ltd.

Niko Resources Ltd.

December 21, 2016 15:17 ET

Niko Clarifies Article in Indian Press

CALGARY, AB--(Marketwired - December 21, 2016) - Niko Resources Ltd. ("Niko" or the "Company") (TSX: NKO) provides the following clarification with respect to various articles that appeared earlier today in the Indian press regarding the Company stake sale in Hazira Field.

The Company has signed an asset purchase agreement with Sun Petrochemicals Pvt. Ltd. for divesting its 33.33% operating interest in Hazira Field. The sale is subject to various approvals including from the Government of India and Niko's joint operating partner in the Hazira Field, Gujarat State Petroleum Corporation Limited.

Niko does not consider the operations from Hazira Field to be material as Hazira Field was nearing the end of its life and an abandonment program was being planned for the near future.

Contact Information

  • For further information, please contact:
    Niko Resources Ltd.
    (403) 262‐1020
    Glen Valk
    VP Finance & CFO
    or visit the Company's website at www.nikoresources.com