LNG Lng Energy Ltd.

Niko Resources Ltd. (TSX:NKO) ("Niko" or the "Company") confirms that the
Cabinet Committee of Economic Affairs ("CCEA") of the Government of India has
approved a new pricing formula for domestic gas sales in India.


The pricing formula is based on the average of the prices of imported liquefied
natural gas ("LNG") into India and the weighted average of gas prices in North
America, Europe and Japan, as follows:




--  PAV = (PIAV + PWAV) / 2 
    --  PAV = Sales price for domestic natural gas sales in India 
    --  PIAV = Netback price of Indian LNG term imports (excluding spot
        imports) 
    --  PWAV = Weighted average of prevailing gas prices in global markets,
        based on: 
        --  Henry Hub gas price in U.S. and total volumes consumed in North
            America 
        --  National Balancing Point ("NBP") gas price in U.K. and total
            volume consumed in Europe and Eurasia 
        --  Netback price of Japanese LNG imports and total volume imported
            by Japan 



The pricing formula will be effective on April 1, 2014 for a period of five
years, with the price to be revised quarterly using the approved formula. The
price for each quarter will be calculated based on the 12 month trailing average
price with a lag of one quarter (i.e. the price for April to June 2014 will be
calculated based on the averages for the 12 months ended December 31, 2013).


At the present time, the Indian LNG term imports relate primarily to the
Petronet LNG Limited contract ("Petronet") with RasGas of Qatar. Per the
Rangarajan Committee Report, the pricing terms of this contract are as follows:




--  FOB = Po x JCCt / $15 
    --  Po = $1.90 / MMBTU (therefore, FOB = 12.67% x JCCt) 
    --  JCCt = 12 trailing month average Japan Customs-cleared Crude (JCC)
        price, subject to a floor and ceiling: 
        --  Floor = ((60 - N) x $20 + (N x A60)) / 60 - $4 
        --  Ceiling = ((60 - N) x $20 + (N x A60)) / 60 + $4 
            --  N = 1 for January 2009, increasing by 1 every month until
                December 2013 after which it remains at 60 
            --  A60 = 60 trailing month average price of JCC 



In the future, the Indian LNG term imports are expected to include imports
related to the Petronet contract with ExxonMobil for import of LNG from the
Gorgon venture in Australia. Per the Rangarajan Committee Report, the terms of
this contract are as follows:




--  FOB = 14.5% x JCC 



Estimated liquefaction and transportation costs of $3.00 / MMbtu for older LNG
facilities (pre-2010) or $4.00 / MMbtu for newer LNG facilities are to be
deducted to arrive at the netback price for Indian LNG term imports.


Using the approved price formula, the price effective for April 1, 2014 is
estimated at around $8.40 / MMbtu, double the price of $4.20 / MMbtu for current
gas sales from the D6 Block. The pricing terms of the Petronet contracts are
expected to result in further increases in the gas prices in future quarters,
assuming current pricing levels of JCC, U.S. Henry Hub, U.K. NBP and Japan LNG
imports.


Forward-Looking Information

Certain statements in this press release constitute forward-looking information.
These forward-looking statements are based on certain key expectations and
assumptions of management. The reader is cautioned that the assumptions used in
the preparation of such forward-looking information, although considered
reasonable at the time of preparation, may prove to be incorrect. Actual results
achieved may vary from the information provided herein as a result of numerous
known and unknown risks and uncertainties and other factors and such variations
may be material.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Niko Resources Ltd.
Edward Sampson
Chairman of the Board, President & CEO
(403) 262-1020


Niko Resources Ltd.
Glen Valk
VP Finance & CFO
(403) 262-1020
www.nikoresources.com

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