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Monday, August 21 2017 @ 12:43 AM AST

Niko still owes Trinidad & Tobago hundreds of millions

New from Niko yesterday: "The Company's exploration subsidiaries that previously owned interests in PSCs in Trinidad and Indonesia have significant accounts payable and accrued liabilities (including PSC obligations) and unfulfilled exploration work commitments reflected on the Company's balance sheet as at June 30, 2017. In May 2017, the Company's indirect subsidiaries received written notices from the GORTT terminating the three PSCs. In the Company's view, the parent guarantees for unfulfilled exploration commitments for the three PSCs have expired. Effective with the termination of the PSCs, the Company reclassified the Trinidad segment as discontinued operations in the condensed interim consolidated financial statements for the three months ended June 30, 2017." For more visit: https://web.tmxmoney.com/article.php?...symbol=NKO

Background: http://news.co.tt/public_html/article...4184427199

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