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Niko Resources Ltd (NKO.TO)

NKO.TO on Toronto Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Niko qtrly net oil and natural gas revenue $5.8 mln
Friday, 11 Aug 2017 04:30pm EDT 

Aug 11 (Reuters) - Niko Resources Ltd :Niko reports results for the quarter ended June 30, 2017.Qtrly net oil and natural gas revenue $5.8 million versus $16.4 million.Niko Resources-‍cash balances at June 30, projected revenue from assets in India not expected to be sufficient to fund requirements over next several months​.Niko Resources- requested consent from lenders in facilities agreement to use part of funds in restricted cash reserve account to meet cash requirements​.Niko Resources Ltd- ‍decision from lenders on consent to use a portion of funds in a restricted cash reserve account expected before end of August 2017​.Niko Resources Ltd- ‍adverse decision from lenders will have a material adverse impact on company's ability to fund its operations​.  Full Article

Niko reports reports total sales volumes of 87 MMCFE/D in Q4
Thursday, 15 Jun 2017 07:00pm EDT 

June 15 (Reuters) - Niko Resources Ltd ::Niko reports results for the year ended March 31, 2017.Niko Resources Ltd says total sales volumes in Q4 of fiscal 2017 of 87 MMCFE/D decreased from 99 mmcfe/d in fiscal 2016.Net oil and natural gas revenues of $8 million decreased in Q4 of fiscal 2017 compared to $20 million in Q4 of fiscal 2016.Niko Resources Ltd says net income from continuing operations of $24 million in q4 of fiscal 2017 decreased compared to $78 million in q4 of fiscal 2016.Niko Resources Ltd - because of foregoing matters there're uncertainties that may cast significant doubt about ability of co to continue as going concern.Niko Resources Ltd- market conditions coupled with legal issues relating to assets in India, Bangladesh provide challenges to goal of monetizing co's core assets.  Full Article

BP, India's Reliance have ongoing business with ONGC despite disputes- Reliance
Thursday, 15 Jun 2017 08:46am EDT 

June 15 (Reuters) - Reliance Industries Ltd chairman says::BP, India's Reliance have ongoing businesses with ONGC despite disputes.BP CEO: expect global oil prices at $50-$55/bbl next year.  Full Article

Niko reports Qtrly sales volumes 84 MMCFE/D
Tuesday, 14 Feb 2017 05:22pm EST 

Niko Resources Ltd : Niko reports results for the quarter ended December 31, 2016 . Qtrly sales volumes 84 MMCFE/D versus 102 MMCFE/D .Niko Resources Ltd- there is material uncertainty that may cast significant doubt about ability of company to continue as a going concern.  Full Article

Niko Resources appoints Robert Ellsworth Jr as interim CEO
Tuesday, 19 Jul 2016 04:10pm EDT 

Niko Resources Ltd : Appointment of Christopher H. Rudge as new chairman of board, effective immediately . Niko Resources Ltd. Announces board and management changes . Kevin J. Clarke resigned as chairman of board, director, and interim chief executive officer, effective immediately .Appointment of Robert S. Ellsworth Jr as interim chief executive officer of company, effective immediately..  Full Article

Niko Resources says is no longer in default of amended facilities agreement
Monday, 18 Jul 2016 10:48am EDT 

Niko Resources Ltd: Entered into an amendment to its senior term loan facilities agreement . Company is no longer in default of amended facilities agreement or indenture . Cash balance, projected cash flow from operating activities for FY 2017 expected to be sufficient to fund projected capital expenditures . Not required to make interest payments under facilities agreement or indenture during term of amendments .Says continued withholdings by Petrobangla of amounts will significantly impact co's ability to fund capital budgets for fiscal 2017.  Full Article

Niko announces commencement of consent solicitation
Friday, 10 Jun 2016 09:04am EDT 

Niko Resources Ltd : Niko announces commencement of consent solicitation .Commenced a solicitation of consents to amend trust indenture governing its 7% convertible senior unsecured notes due December 31, 2017.  Full Article

Niko Resources provides corporate update
Tuesday, 24 May 2016 07:30am EDT 

Niko Resources Ltd : Niko provides corporate update . Expects on or about May 31 to commence solicitation of consents to amend trust indenture governing 7% senior notes due Dec, 2017 . Continues to be in default of certain obligations under diamond settlement agreement . On June 30, 2015, company did not make a scheduled payment of $5 million under terms of diamond settlement agreement . On September 30, 2015, December 31, 2015, and March 31, company did not make additional scheduled payments totaling $15 million . Texas court has issued a summary judgment in amount of $20 million plus interest and legal costs .Currently considering implications of this judgement and evaluating all its options, including an appeal.  Full Article

Niko Resources says writ petition before Supreme Court Of Bangladesh against company
Monday, 16 May 2016 07:30am EDT 

Niko Resources Ltd : Writ petition has been filed before Supreme Court of Bangladesh against company . Writ petition relates to Feni gas purchase and sales deal between Petrobangla and NRBL for Feni gas field . Pending resolution of writ petition, court stayed for a month any benefit given by GOB, Petrobangla or Bapex to NRBL or Niko, units . "Believes that ICSID has exclusive jurisdiction to decide all disputes relating to Feni GPSA and JVA" .Niko provides corporate update.  Full Article

Niko Resources Ltd reaches agreement with institutional lenders of $340 mln senior term loan facilities
Friday, 6 Nov 2015 07:30am EST 

Niko Resources Ltd:Provides corporate update.Says reached an agreement with the institutional lenders of its US$340 million senior term loan facilities.Says to further extend the dates of the previously announced third amendment to the facilities agreement.  Full Article

BRIEF-Niko qtrly net oil and natural gas revenue $5.8 mln

* Qtrly net oil and natural gas revenue $5.8 million versus $16.4 million