Niko Increases Acreage Holdings by 29% in Indonesia

Niko Resources Ltd. is pleased to announce the signing of four new Production Sharing Contracts with the Government of Indonesia for the following blocks.

- Cendrawasih Bay II 5,072 sq km. Operator: Repsol
- Cendrawasih Bay III 4,688 sq km. Operator: Niko Resources
- Cendrawasih Bay IV 3,904 sq km. Operator: Niko Resources
- Sunda Strait 6,959 sq km. Operator: Niko Resources

In Cendrawasih Bay II, III, and IV, Niko holds a 50% interest in partnership with Repsol Exploracion and will operate two of these blocks while in the Sunda Strait block Niko holds 100% participating interest. The blocks in Cendrawasih Bay surround Niko's existing PSC operated by Exxon Mobil and target similar play types.

Niko will hold an interest in 16 exploration blocks covering almost 20 million gross acres (over 15 million net acres) in Indonesia.

Niko has completed the first phase of its seismic commitment with zero lost time incidents. A total of 15,600 line km and over 200,000 man-hours have been completed.