CALGARY - Niko Resources Ltd. (TSX:NKO), a Calgary-based oil and gas company which operates in Asia, says the Indonesian government has selected the company as the successful bidder in three additional exploration blocks.
The first block, Halmahera - Kofiau is offshore west Papua, Indonesia and will be operated by Niko with a 50 per cent interest. The block covers 480,000 hectares and is located in water as deep as 1,200 metres.
The exploration zone is near the Kofiau Block that was awarded to Niko and its partners in May.
The second block, West Papua IV is offshore southwest Papua, where Niko will also hold a 50 per cent interest. The block covers 600,000 hectares and is located in water depths from 50 to 2,000 metres.
The third block, East Bula is offshore the island of Seram, with Niko taking a 50 per cent non-operating interest. The block covers 600,000 hectares in water as deep as 1,000 meters.
When combined with other acreage, Niko now has a stake in 11 deepwater exploration blocks in various offshore basins.
Niko operates mostly in India and Bangladesh but also explores, develops and produces natural 
and oil in Pakistan, Kurdistan, Indonesia, Trinidad and Madagascar.
At its annual meeting late Thursday in Calgary, the company said it does not see itself as a takeover target.
When asked by a shareholder at the company's annual meeting whether a Chinese energy firm might be interested in snapping up Niko's assets, Edward Sampson said: "I hope not."
'Basically what happens when you're an exploration company as Niko is, particularly with the number of blocks that you have, you're probably not rewarded to the level that you'd like to be at this point in time in our history," he said
In trading Friday on the TSX, Niko shares rose 85 cents to $75.40, a gain of 1.1 per cent.