Niko acquires Black Gold, increases Indonesia acreage

Niko Resources has acquired Black Gold, the company’s Indonesian block partner.

Offshore staff

CALGARY, Canada -- Niko Resources has acquired Black Gold, the company’s Indonesian block partner.

Upon transaction completion, Niko will hold an interest in 12.1 million net exploration acres in Indonesia.

“Niko is attracted to this additional acreage due to its excellent prospectivity, good fiscal terms, and proximity to the growing Asian oil and gas market,” says Edward Sampson, chairman and CEO of Niko. “Niko will now have an unparalleled platform to add shareholder value by growing in Indonesia and beyond.”

11/19/2009

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