Niko Finds Gas Offshore Indonesia

Niko Resources has identified an 80 foot gas interval in the upper section of the Pananda-1 exploration well in the North Makassar block, located offshore Kalimantan, Indonesia.

The Pananda-1 well is situated approx. 40 kms southeast of the Chevron-led deepwater development project at Gehem field.

Additional prospectivity in the Middle Miocene turbidite play remains to be evaluated in the vicinity of Pananda-1, the company said. Niko holds a significant acreage position in this play trend along with joint venture partners.