The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

A Niko Resources operation in Bangladesh. In 2011, an RCMP bribery case against Niko Resources led to a $9.5-million fine against the Calgary company.
A Niko Resources operation in Bangladesh. In 2011, an RCMP bribery case against Niko Resources led to a $9.5-million fine against the Calgary company.
(Niko)

Niko Resources lands $60-million loan

A group of institutional investors has agreed to lend Niko Resources Ltd. $60-million (U.S.) in a complex deal that looks pricey but gives some breathing room as the junior oil explorer looks to meet exploration commitments.

Uncertainty over financing of future international prospects has clouded fortunes for Niko as production has declined in its operations offshore India, reducing cash flow.