Niko announces multi‐block farm-out to Statoil

(CALGARY, ALBERTA? May 24, 2011) ? Niko Resources Ltd. is pleased to announce that it has reached an agreement with Statoil ASA in which Statoil, through its subsidiaries, will become a joint venture participant in the North Makassar Strait, West Papua IV and Halmahera‐Kofiau Production Sharing Contracts (PSC) in Indonesia.

As a result of the agreement, Statoil will earn a 40% working interest in each PSC. The transfer of interest is pending approval by the Government of Indonesia.

Niko is the operator of the PSCs and has acquired a total of approximately 5100km2 of 3D seismic data and 2900km of 2D seismic data on the blocks. Niko is planning to drill wells on all three PSCS as part of an extensive Indonesian deepwater drilling campaign, set to commence early 2012.

Niko and Statoil are also working together to develop additional new venture opportunities in Indonesia with the objective of acquiring additional jointly held PSCs. In addition to Indonesia, Niko and Statoil are investigating worldwide opportunities where the application of Niko?s expertise in multibeam technology can provide a competitive commercial advantage.(ends)