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File photo of a Niko Resources drilling platform.
File photo of a Niko Resources drilling platform.

Niko Resources sinks into the red Add to ...

Niko Resources Ltd. is reporting a fiscal fourth-quarter net loss of $183.3-million (U.S.).

The loss by the Calgary-based oil and natural gas concern amounts to $3.55 per share.

The loss reverses a net profit of $6.2-million or 12 cents a share in the same 2011 period.

Oil and natural gas revenue fell to $71.4-million from $94.2-million, primarily as a result of a decrease in gas production from its D6 block holdings in India.

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Niko is currently focused on offshore Indonesia and Trinidad, but also has operations in India, Pakistan, the Kurdistan region of Iraq and Madagascar.

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