Tuuuh kan ...
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Nov 18, 2009 07:31 ET
Niko Announces Major Expansion in Indonesia with Acquisition of Black
Gold Energy LLC
Acquisition of key exploration partner greatly enhances Niko's acreage
position, adds significant experience and technical expertise
CALGARY, ALBERTA--(Marketwire - Nov. 18, 2009) - Niko (the "Company")
(TSX:NKO) is pleased to announce that it has executed agreements to
acquire Black Gold LLC ("Black Gold"). Black Gold is a partner in all
of Niko's current Indonesian blocks. Upon completion of this
transaction, Niko will hold an interest in 12.1 million net
exploration acres in Indonesia, making Niko one of the larger holders
of deepwater exploration acreage.
Niko will also benefit from key Black Gold personnel joining the team.
The expanded team has extensive experience, in-depth knowledge and
understanding of the exploration, operation and regulatory environment
in Indonesia. Building on Black Gold's track record in Indonesia, Niko
will be well-positioned for the opportunities opening up in the
deepwater frontier of Indonesia and beyond.
Edward Sampson, Chairman and CEO of Niko, said "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. In
addition, the Black Gold team is impressive both in terms of knowledge
and technology. Niko will now have an unparalleled platform to add
shareholder value by growing in Indonesia and beyond."
The acquisition requires approximately Cdn. $310 million of financing.
Niko plans to fund the acquisition with convertible debentures and has
executed related agreements. Maturing in 3 years, the debentures will
have no related fees and will carry a coupon rate of 5% per annum, and
a conversion price of Cdn. $110.50 per share. The debentures will be
held by Maju Investments, a subsidiary of Temasek Holdings, an Asia
investor headquartered in Singapore.
The successful completion of these transactions is subject to the
approval of the Government of Indonesia (BPMIGAS) and lenders under
the Company's existing credit facility.
http://www.marketwire.com/press-release/Niko-Resources-Ltd-TSX-NKO-1078490.html
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