CALGARY, ALBERTA--(Marketwired - Oct. 8, 2014) - Niko Resources Ltd. ("Niko" or the "Company")(TSX:NKO) today announced that the Board of Directors of the Company has appointed Kevin J. Clarke as Chairman of the Board and interim Chief Executive ...
Short sellers have recently been having a field day with Niko Resources Ltd. (TSX: T.NKO, Stock Forum), a Calgary-based oil and gas explorer, which has been working to avoid a debt default and finance offshore drilling operations in India and Bangladesh.
A rout in Niko Resources Ltd.'s shares is accelerating amid concern that the energy explorer will struggle to finance drilling in India and prices for natural gas from the projects will be less than it anticipated.
(Adds details, background). Nov 14 (Reuters) - Canada's Niko Resources Ltd said it was evaluating plans for its oil and gas assets in India, citing uncertainty related to the outlook for natural gas prices in the country.