Friday, May 24, 2013

Niko Resources Ltd.- NKO.t

Niko Resources Ltd.- NKO.t has operations in India, Bangladesh, Indonesia, Kurdistan Iraq, Madagascar, Pakistan and Trinidad.

Indian and Bangladesh production provides strong cash flows enabling the company to fund exploration activities.








On May 24, 2013 the company released News

RIL, BP and NIKO announce a significant gas condensate discovery in deepwater KG D6 block, offshore India

Reliance Industries Limited (RIL) and its partners BP and NIKO today announced a significant gas and condensate discovery in the KG D6 block off the eastern coast of India.
The KGD6-MJ1 well was drilled in a water depth of 1,024 metres - and to a total depth of 4,509 metres - to explore the prospectivity of a Mesozoic Synrift Clastic reservoir lying over 2,000 metres below the already producing reservoirs in the D1- D3 gas fields.

Formation evaluation indicates a gross gas and condensate column in the well of about 155 metres in the Mesozoic reservoirs. In the drill stem test, the well flowed 30.6 million standard cubic feet per day (mmscfd) and liquid rate of 2,121 barrels a day with a choke of 36/64" with a flowing bottom hole pressure of 8461 psia suggesting good flow potential. Well flow rates during such tests are limited by the rig and well test equipment configuration.














http://pennystockjournal.blogspot.com/2013/05/niko-resources-ltd-nkot.html





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