10:16 AM EST - Niko Resources Ltd. : announced that it has reached a Farmout agreement with Repsol Exploration SA in which Repsol, through its subsidiaries, will become a joint venture participant in both the East Bula and Seram Production Sharing Contracts (PSC) in Indonesia. As a result of the agreement, Niko as operator will hold 55% working interest and Repsol will hold 45% working interest on each PSC. The transfer of interest has been approved by the Government in Indonesia. Niko Resources Ltd.
shares T.NKO are trading up $0.49 at $98.48.
