Niko Signs Three New PSCs in Trinidad

Niko Resources Ltd. announced that the Company has signed three new Production Sharing Contracts with the Trinidad and Tobago Government:

-  The first block, NCMA2 is located approximately 50 kilometers NNW of the
    northern coast of Trinidad and will be operated by Niko who will hold a
    56% interest. The block covers 251,870 acres and is located in water
    depths from 150 to 170 metres. 
-   Both the NCMA2 block and the NCMA3 Block discussed below are on trend
    with the multi TCF Hibiscus and Chaconia gas fields.
-   The second block, NCMA3 is located approximately 25 kilometers NNW of
    the northern coast of Trinidad and will be operated by Niko who will
    hold a 80% interest. The block covers 520,439 acres and is located in
    water depths from 100 to 150 metres. 
-   The third block, Block 4(b) is located approximately 100 kilometers east
    of the eastern coast of Trinidad in the Columbus Basin and will be
    operated by Niko who will hold a 100% interest. The block covers 396,634
    acres and is located in water depths ranging from 200 to 700 metres. The
    block is located directly north of Block 5(c) where to date several gas
    discoveries have been made. The block contains several undrilled
    structures with very pronounced seismic amplitude anomalies which
    suggest the potential presence of hydrocarbons. 

Country Summary

When combined with previously announced acreage as summarized below, the company now has an interest in 8 blocks in various proven hydrocarbon basins with potential for oil and/or gas discoveries. All blocks are managed by Production Sharing Contracts.
Source: Niko Resources