Key Developments: Niko Resources Ltd (NKRSF.PK)
6.10USD
21 May 2013
$-0.06 (-0.97%)
$6.16
$6.23
$6.23
$6.04
1,665
15,743
$33.02
$5.07
Latest Key Developments (Source: Significant Developments)
Niko Resources Ltd Proposes Sale Of Certain Non-Core Assets
Niko Resources Ltd announced that it is in advanced negotiations with two separate third parties for the sales of certain non-core assets for combined sales proceeds of $157 million. The Company is working towards signing of definitive sale and purchase agreements by April 30, 2013. Further details on these transactions will be provided to the market as these transactions progress. Full Article
Reliance Industries Ltd Led Consortium with Niko Resources Ltd And BP Plc May Shut KG D6 in Fiscal 2016-Business Standard
Business Standard reported that Reliance Industries-led consortium may have to shut key gas producing fields in the KG D6 block in 2015-2016. Canadian company Niko Resources Ltd has a 10% stake in the D6 block in the Krishna Godavari basin, while Reliance and BP Plc, the operators, have 60% and 30% respectively. The consortium has said it will not be able to produce as much gas as anticipated due to geological complexities. Full Article
Niko Resources Ltd Suspends Dividend
Niko Resources Ltd announced that the board of directors have decided to suspend the Company's quarterly dividend. Full Article
Niko Resources Ltd Reaffirms FY 2013 Production Guidance
Niko Resources Ltd. announced that for fiscal 2013, it expects total production of 175,000 (Mcfe/d). Full Article
Niko Resources Ltd. Issues FY 2013 Production Guidance
Niko Resources Ltd. announced that for fiscal 2013, it expects total production of 175,000 (Mcfe/d). Full Article
Reliance Industries Ltd, BP plc And Niko Resources Ltd. To Spend INR22,000 Crore On Gas Field-Business Standard
Business Standard reported that Reliance Industries Ltd and its partners BP plc and Niko Resources Ltd. plan to spend $4 billion (INR22,000 crore) to develop satellite gas fields off India's east coast. Reliance holds 60% of the D6 block, BP has 30% and the rest is held by Canadian oil and gas producer Niko. Full Article
Niko Resources Ltd. Declares Quarterly Dividend
Niko Resources Ltd. announced that it has declared a first quarter dividend of $0.06 per share. The record date is June 30, 2012 and date of payment is July 13, 2012. Full Article
Reliance Industries Ltd, Niko Resources Ltd. Led Group Give Up East Indian Gas Block-Reuters
Reuters reported that Reliance Industries Ltd and partners BP plc and Canada's Niko Resources Ltd. have abandoned the D4 oil and gas block off India's east coast. The D4 block, situated in the Mahanadi Basin, lies north of Reliance's main D6 block in the neighboring Krishna-Godavari Basin, where gas output has declined sharply over the last year, marring the growth outlook for the Indian energy major and forcing the government to hold back approvals. Full Article
Niko Resources Ltd. Announces Commencement Of Indonesian Drilling Program
Niko Resources Ltd. announced commencement of its exploration drilling program in Indonesia and participation in the Company's twenty-first block in the country. Niko will partner with Zaratex N.V. in the 5908km2 Lhokseumawe PSC in western Indonesia. The block is located directly adjacent to the giant Arun field (greater than 3.1BBOE) and associated LNG plant. A 3865km2 3D program was acquired on the block and a number of high impact prospects were subsequently identified. Drilling is to commence in the shallow water portion of the block in April with two wells. The Candralila-1 and Ratnadewi-1 prospects will be drilled back to back and if successful will be monetized relatively quickly by accessing the existing extensive local infrastructure. Niko's deep water rig, the Diamond Ocean Monarch, is scheduled to arrive in Lhokseumawe in September to drill the Jayarani-1 well. This will be the first well in Niko's planned program of more than 25 deep water wells in Indonesia. Full Article
Niko Resources Ltd. Declares Quarterly Dividend
Niko Resources Ltd. announced that it has declared a fourth quarter dividend of CAD0.06 per share. The record date is March 31, 2012 and date of payment is April 13, 2012. Full Article
UPDATE 2-Money-losing Niko says India gas price may double
* Says India production will fall unless new fields are added
Earnings vs. 
Estimates
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