Partners abandon India block D4

Niko Resources Ltd. (TSX: NKO) says it and partners Reliance Industries Ltd. and BP will abandon block D4 offshore eastern India in the Mahanadi basin.

Offshore staff

CALGARY, Canada –Niko Resources Ltd. (TSX: NKO) says it and partners Reliance Industries Ltd. and BP will abandon block D4 offshore eastern India in the Mahanadi basin. Niko cited geological risk and commercial environment in India as the prompts.

Holdings were Reliance, 55%; BP, 30%; and Niko, 15%.

5/30/2012

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