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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.

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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