03:53 PM EST - Niko Resources Ltd : provided an update on reserves as at March 31. On a company-wide MMcfe basis, net proved plus probable reserves totaled 854,901 MMcfe while gross proved plus probable reserves totaled 1,207,585 MMcfe. The net present value after tax discounted at 10% was $1.8 billion. Technical revisions and economic factors resulted in a 6.8% decline in net proved plus probable reserves. However, largely on the strength of improved prices, the Company's net present value of future net revenues after income taxes, discounted at 10% per year of $1.827 billion is virtually unchanged from last year's reported $1.832 billion. Niko Resources Ltd
shares T.NKO are trading down $3.04 at $69.76.
