Niko Signs Multi‐Year Deepwater Rig Contract for Indonesia

Calgary-based Niko Resources Ltd. announced that it has signed a contract with a subsidiary of Diamond Offshore, a US-based deepwater drilling contractor, for hydrocarbon discoveries in Indonesia. The Ocean Monarch, which is being contracted for a four-year term with the option of one additional year, is capable of operating in water depths up to 10,000 feet and a drilled depth of up to 35,000 feet. With the option year exercised, this contract is in excess of C$700 million. The contract is to begin between June 1 and August 15, 2012.