June 27, 2017 / 10:12 PM / 2 months ago

BRIEF-Niko provides corporate update

June 27 (Reuters) - Niko Resources Ltd:

* Niko provides corporate update

* Niko Resources - for period ended Dec 31, 2007, co was unable to deliver minimum quantities to certain customers under contracts from Hazira field

* Niko Resources Ltd - co's joint operating partner filed arbitration claims for losses incurred as a result of delivery of these shortfall volumes

* Niko Resources Ltd - company's joint operating partner in Hazira field delivered shortfall volumes from other gas sources

* Niko Resources Ltd - in June, arbitration tribunal issued award in favour of company's joint operating partner in an amount of approximately $17.8 million

* Niko Resources Ltd - company plans to appeal award in Indian court system under rules governing indian arbitration

* Niko Resources - tribunal awarded interest at rate of 10% per annum from 2012 to date of award plus further interest at 10% annually from date of award until payment Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below