Niko Resources Provides Update on NEC-25; Shares Climb 17%

By Staff,

Shutterstock photo

Niko Resources Ltd. (NKO.TO) announced that the field development plan for the NEC-25 Block in India was submitted on March 28, 2013 to the Government of India for approval.

An independent reservoir engineering firm is currently working on their reserves and economic evaluation for Niko's interest in the NEC-25 Block, and with field development plans submitted and increased clarity on future gas prices for the developments, the Company expects to book reserves for the NEC-25 Block and other planned development projects in its portfolio, effective March 31, 2013.

NKO has climbed 17% to $7.45, trading near 52-week low $5.13.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks:

More from MT Newswires


MT Newswires

MT Newswires

Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by