Niko Awarded Two Additional Exploration Licenses in Indonesia

CALGARY, ALBERTA--(Marketwire - Nov. 21, 2011) - Niko Resources Ltd. ("Niko") (TSX:NKO). Niko Resources Ltd. is pleased to announce that it has been awarded two new PSCs Production Sharing Contracts ("PSCs") in Indonesia.

The North Ganal PSC (2,432 sq km), located in the highly prolific deep water petroleum province of East Kalimantan, was awarded to a consortium of five companies consisting of subsidiaries from Niko, Eni, Statoil, GDF SUEZ and Black Platinum Energy. Eni will be the Operator of the PSC. This PSC lies on trend with the nearby Jangkrik discovery of Eni and GDF Suez which is awaiting Government approval for a planned fast track development. The PSC will also interrogate the same geologic plays as the adjacent deep water Chevron developments. The North Ganal PSC is adjacent to the existing Niko's operated PSCs in Makassar Strait (North Makassar Strait PSC and South East Ganal I PSC), giving Niko a strong position in this active development area.

The Obi PSC (8,057 sq km) lies in Eastern Indonesia, south of Halmahera Island. The PSC was awarded to a consortium consisting of subsidiaries of Niko, Statoil and Manley N.V. Niko will be Operator of the Obi PSC. This PSC is near the Niko operated Kofiau and Halmahera-Kofiau PSCs. These three blocks capture the direct extension of the geologic trends established in the Salawati production area of Papua which has to date produced more than 500 million barrels of oil equivalent.

With these two PSCs, Niko is now a participant in 18 Indonesian PSCs (Operator of 13) covering over 90,000 square kilometers or 22 million acres and the Company maintains its position as the largest holder of deep water exploration acreage in Indonesia.

Certain statements in this press release are forward-looking statements. Specifically, this press release contains forward-looking statements relating to management's approach to operations, estimates of future sales, production and deliveries, business plans for drilling and development, estimated amounts and timing of capital expenditures, anticipated operating costs, royalty rates, cash flows, transportation plans and capacity, anticipated access to infrastructure or other expectations, beliefs, plans, goals, objectives, assumptions and statements about future events or performance. The reader is cautioned that the assumptions used in the preparation of such information, although considered reasonable by Niko at the time of preparation, may prove to be incorrect. Actual results achieved during the forecast period will vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. Such factors include, but are not limited to: general economic, market and business conditions; industry capacity; competitive action by other companies; fluctuations in oil and gas prices; the results of exploration and development drilling and related activities; the uncertainty of estimates and projections relating to productions, costs and expenses; uncertainties as to the availability and cost of financing; fluctuations in currency exchange rates; the imprecision in reserve estimates; risks associated with oil and gas operations, such as operational risks in exploring for, developing and producing crude oil and natural gas; risks and uncertainties involving geology of oil and gas deposits; the weather in the Company's area of operations; the ability of suppliers to meet commitments; changes in environmental and other regulations; actions by governmental authorities including changes in laws and increases in taxes; decisions or approvals of administrative tribunals; risks in conducting foreign operations (for example, political and fiscal instability or the possibility of civil unrest or military action in countries such as India and Bangladesh); the effect of acts of, or actions against international terrorism; and other factors, many of which are beyond the control of Niko. There is no representation by Niko that the actual results achieved during the forecast period will be the same in whole or in part as those forecast.