Niko Resources Gets Reserves Report for MJ Gas Discovery Offshore India

Niko Resources has announced independent resources evaluation report for the MJ gas and condensate discovery in the D6 Block in India.

The report has been prepared by Deloitte LLP, an independent petroleum engineering firm. Deloitte has evaluated the contingent resources for the MJ discovery in the D6 Block in India based on available information, including the drilling, testing and coring results of the MJ 1 discovery well and the MJ-A1, MJ-A2, and MJA3 appraisal wells.

Deloitte's best case estimate of gross unrisked contingent resources of 1.4 trillion cubic feet of equivalent (Tcfe) relates to the Central (North), Northern and Central (South) fault blocks that were drilled by the MJ-1, MJ-A1, and MJ-A3 wells, based on an estimated areal extent of approximately 24 square kilometers, approximately twice the areal extent of the analogous MA field that is currently producing.

"The discovery and successful appraisal of MJ adds a new and exciting chapter to the D6 Block.  Going forward, the contractor group in the block will be working on plans to develop MJ, which may lead to potentially significant additions  to  reserves  and  production  levels  in  the  coming  years,"  said  William  T.  Hornaday, Chief Operating Officer, Niko Resources.