Niko Resources Provides Update on Drilling in Indonesia and Trinidad

Niko Resources Ltd., an oil and gas exploration company, currently one of the largest independent landowners in both Indonesia and Trinidad, announces drilling operation updates.

The Rowan Gorilla III offshore rig has spudded the Shadow-1 prospect on the 2(ab) block, in Trinidad.   Shadow is targeting up to 150 million barrels of oil and 1 TCF of  gas. The well is located 17.5 kilometres east of the Stalin location and 4.7 kilometres north of an existing well that had 1,900 feet of gross Oligocene sands.

Indonesia

The Hercules 208 offshore rig has moved to the Ratnadewi-1 prospect from Candralila-1 in the Lhokseumawe block in Indonesia. Candralila-1 was plugged and abandoned without reaching target depth due to mechanical problems.

The well had oil and gas shows while drilling and partial logs recovered had indications of potential prospectivity. Information from the Ratnadewi-1 well will assist in determining prospectivity for Candralila-1.

The Discoverer Seven Seas deepwater rig is now slated to commence drilling the Lebah prospect in the North Ganal block in Indonesia in August after the completion of its current drilling location.

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Offshore Energy Today Staff, June 13, 2012