This site is owned and maintained by Niko Resources Ltd. ("Niko"). You agree to the following terms and conditions when utilizing this site. Although Niko endeavours to provide accurate and current information on this website, Niko does not warrant or make any representations or claims as to the validity, correctness, currency, timeliness, completeness or otherwise of the information provided on this website. In addition, the information and materials available on this website are not intended to provide specific legal, accounting, financial, tax or other advice to any user. The material contained on this website is deemed to be provided in Alberta and is subject to Alberta law.
Copyright and Trademark
All material on this website is protected by copyright. The material may be used and copied for non-commercial, personal or educational purposes, provided that all information used is not modified and that copyright or trademark notices are not deleted. Any other use of this material without Niko's written permission is prohibited. Except as otherwise noted, the trademarks and logos displayed on this website belong to Niko and may not be used without Niko's prior written permission. Third-party trademarks displayed on this website may not be used without Niko's prior written permission.
This website is not intended to be used in a solicitation manner or for the offering of securities in any jurisdiction. The material on this website is not intended to modify, qualify, supplement or update information disclosed under corporate and securities legislation of any jurisdiction related to Niko and should not be used for the purpose of making investment decisions concerning Niko securities. Printed copies of public disclosure documents may be requested by telephoning Niko at 403-262-1020.
Niko provides links, upon written permission, to third-party websites for convenience only. The inclusion of these links does not imply that Niko monitors, endorses or is responsible for the content and information on these websites.
Exclusion of Liability
Niko and its affiliates and related companies shall not be liable for any claims, expenses, loss of profits or damages (including direct, indirect, special or consequential damages) arising from:
- the use of or dependence on information contained on this website;
- any error or omission in such information or failure to update information in a timely manner;
- use of third party websites linked to this website;
- any Internet software used in connection with this website and any computer viruses or other destructive programs encountered as a result of using this website; and
- all other matters related to this website,
Certain statements contained on this website constitute forward-looking statements or information (collectively referred to as "forward-looking statements") within the meaning of applicable securities legislation. Such forward-looking statements include, among others, statements regarding: the performance characteristics of Niko's oil, natural gas liquids ("NGL") and natural gas properties; oil, NGL and natural gas production levels; the size of the oil, NGL and natural gas reserves; projections of market prices and costs; supply and demand for oil and natural gas; expectations regarding the ability to raise capital and to continually add to reserves through acquisitions and development; future funds from operations; capital programs; commitments; debt levels; future royalty rates; future operating costs;future depletion, depreciation and accretion rates; treatment under governmental regulatory regimes and tax laws; and capital expenditure programs.
The forward-looking statements contained on this website are based on certain key expectations and assumptions made by Niko, including expectations and assumptions relating to prevailing commodity prices and exchange rates, applicable royalty rates and tax laws, future well production rates, the performance of existing wells, the success and timing of drilling new wells, the ability to obtain necessary government approvals, the availability of capital to undertake planned activities and the availability and cost of labour and services.
Although Niko believes that the expectations reflected in the forward-looking statements on this website are reasonable, it can give no assurance that such expectations will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the oil and gas industry in general, such as operational risks in development, exploration and production, delays or changes in plans with respect to exploration or development projects or capital expenditures, the uncertainty of estimates and projections relating to production rates, costs and expenses, commodity price and exchange rate fluctuations, marketing and transportation, environmental risks, competition, the ability to access sufficient capital form internal and external sources and changes in tax, royalty and environmental legislation, as well as the other risk factors identified under "Risk Factors" in Niko's annual information form for the year ended March 31, 2010. Statements relating to "reserves" or "resources" are deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves described exist in the quantities predicted or estimated, and can be profitably produced in the future. Readers are cautioned that the foregoing list of factors and risks is not exhaustive.
The forward-looking statements contained on this website are made as of the date hereof and, unless so required by applicable law, Niko undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained on this website are expressly qualified by this cautionary statement.
On this website, all references to dollars refer to United States dollars unless otherwise stated. Production data is presented on a before royalties basis unless otherwise stated. Certain crude oil and NGL volumes that have been converted to millions of cubic feet equivalent ("MMcfe") or thousands of cubic feet equivalent ("Mcfe") on the basis of one barrel ("bbl") to six thousand cubic feet ("Mcf"). In addition, certain natural gas volumes have been converted to barrels of oil equivalent ("boe") or thousands of boe ("Mboe") on the same basis. MMcfe, Mcfe, boe and Mboe may be misleading, particularly if used in isolation. A conversion ratio of 1 bbl to 6 Mcf is based on an energy equivalency conversion method primarily at the burner tip and does not necessarily represent the value equivalency at the well head. One million British thermal units ("MMBtu") is equivalent to 1 Mcfe plus or minus up to 20 percent, depending on the composition and heating value of the natural gas in question.
Non-GAAP Financial Measures
The selected financial information presented on this website has been prepared in accordance with Canadian generally accepted accounting principles ("GAAP"), except for "funds from operations", "operating netback", "funds from operations netback", "earnings netback" and "segment profit", which are used by Niko to analyze the results of operations. These non-GAAP measures do not have any standardized meanings prescribed by GAAP and are therefore unlikely to be comparable to similar measures presented by other companies.