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Gold/Mining/Energy : KERM'S KORNER -- Ignore unavailable to you. Want to Upgrade?

To: Kerm Yerman who wrote (11872)	7/25/1998 3:48:00 AM
From: Kerm Yerman	Read Replies (2) \| Respond to of 15196

EARNINGS / Niko Resources Ltd. Year Ending 3/31/98 Results Date: 7/24/98 9:25:51 AM Stock Symbol: NKO Niko Resources Ltd. (ASE - NKO) announced its financial results for the year ended March 31, 1998. Revenue increased 150% to $4.2 million compared to $1.7 million in 1997. Cash flow from operations rose 165% to $1.8 million or $0.09 per share compared to $0.7 million or $ 0.04 per share in 1997. The Company incurred a loss of $2.4 million or ($0.12) per share reflecting its $2.65 million write-off of its total investment in Epic Energy Inc. In 1997 the Company earned $0.2 million or $0.01 per share. The improved operating results are due to increased gas production in India. The Company produced 1.9 MMCF per day of gas in the year compared to 0.7 MMCF per day in the prior year. Oil production averaged 49 barrels of oil per day in 1998 compared to 58 BOPD in 1997. Current production is 2.75 MMCF per day of gas and 35 BOPD. The Company also announced that the 1.5 million warrants that expired on July 21, 1998 were fully exercised resulting in gross proceeds to the Company of $4.5 million.