Indonesia: Niko gives estimates for three blocks

Consulting engineers released gross resource estimates for three of the 13 blocks in which Niko Resources Ltd., Calgary, holds interests in Indonesia.

By OGJ editors
HOUSTON, Apr. 15
– Consulting engineers released gross resource estimates for three of the 13 blocks in which Niko Resources Ltd., Calgary, holds interests in Indonesia.

Niko holds 100% interest in the Southeast Ganal and West Sageri blocks and 50% interest in the North Makassar Strait block. Planning for several exploration wells is under way.

The best estimates show a gross unrisked prospective resource of 1.109 billion stb of oil, 279 million stb of condensate, and 9 tscf of separator gas in 11 prospects at Southeast Ganal, 248 million stb, 9 million stb, and 1.7 tscf in 5 prospects at West Sageri, and 152 million stb, 40 million stb, and 1.29 tscf in 1 prospect at North Makassar Strait.

The company will provide independent resource reports for the 13 other blocks in coming months.

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