Niko Resources Ltd.

Niko Resources Ltd.

June 12, 2008 15:35 ET

Niko Resources Completes Investment in Vast Exploration Inc.

CALGARY, ALBERTA--(Marketwire - June 12, 2008) - NIKO RESOURCES LTD. (TSX:NKO) is pleased to announce that it has acquired approximately 19% of the issued and outstanding common shares of Vast Exploration Inc. (TSX VENTURE:VST) ("Vast") for approximately $11,499,600 as part of Vast's recently completed $35 million bought-deal financing. Niko acquired 19,166,000 Units of Vast at $0.60 per unit. Each Unit consisted of one Vast share and one half of one share purchase warrant that is exercisable at a price of $0.90 per warrant until June 12, 2010. Niko has acquired the securities under this offering for investment purposes only and may acquire additional securities or dispose of its beneficial ownership, control or direction over securities through market transactions, private placements, treasury issuances or otherwise as circumstances or market conditions warrant or arise. Niko is now the single largest shareholder of Vast.

A copy of the early warning report filed in connection with this investment in Vast can be obtained from the Vast profile at or by contacting Murray Hesje at (403) 262-1020.

Certain statements in this press release are forward-looking statements. Specifically, this press release contains forward-looking statements relating to management's approach to operations, estimates of future sales, production and deliveries, business plans for drilling and development, estimated amounts and timing of capital expenditures, anticipated operating costs, royalty rates, cash flows, transportation plans and capacity, anticipated access to infrastructure or other expectations, beliefs, plans, goals, objectives, assumptions and statements about future events or performance. The reader is cautioned that the assumptions used in the preparation of such information, although considered reasonable by Niko at the time of preparation, may prove to be incorrect. Actual results achieved during the forecast period will vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. Such factors include, but are not limited to: general economic, market and business conditions; industry capacity; competitive action by other companies; fluctuations in oil and gas prices; the results of exploration and development drilling and related activities; the uncertainty of estimates and projections relating to productions, costs and expenses; uncertainties as to the availability and cost of financing; fluctuations in currency exchange rates; the imprecision in reserve estimates; risks associated with oil and gas operations, such as operational risks in exploring for, developing and producing crude oil and natural gas; risks and uncertainties involving geology of oil and gas deposits; the weather in the Company's area of operations; the ability of suppliers to meet commitments; changes in environmental and other regulations; actions by governmental authorities including changes in laws and increases in taxes; decisions or approvals of administrative tribunals; risks in conducting foreign operations (for example, political and fiscal instability or the possibility of civil unrest or military action in countries such as India and Bangladesh); the effect of acts of, or actions against international terrorism; and other factors, many of which are beyond the control of Niko. There is no representation by Niko that the actual results achieved during the forecast period will be the same in whole or in part as those forecast.

Contact Information

  • Niko Resources Ltd.
    Edward S. Sampson
    Chairman of the Board, President & CEO
    (403) 262-1020
    Niko Resources Ltd.
    Murray Hesje
    VP Finance & CFO
    (403) 262-1020