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A Relinquishment Agreement in Qara Dagh Block

Source: www.gulfoilandgas.com 11/14/2012, Location: Middle East

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Niko Resources Ltd. announces that, along with its consortium partners, Niko has entered into a relinquishment and termination agreement (the Relinquishment Agreement) with the Kurdistan Regional Government (KRG) to surrender their collective interests in the Qara Dagh Block located in the Kurdistan Region of Iraq.

The Relinquishment Agreement is clear that none of the consortium partners will have any future obligations or liabilities with regard to the original production sharing agreement.

Pursuant to the Relinquishment Agreement, and after settlement of outstanding expenses, Niko expects to recover a net amount of USD $14.9 Million.



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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

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