2011-06-30-2010-12-10-2011-06-23

Acquired 25% interest in Block 5(c) offshore Trinidad and Tobago.

Niko Resources Ltd., Calgary, (Toronto: NKO) has acquired a 25% interest in Block 5(c) offshore Trinidad and Tobago from Sonde Resources Corp., Calgary. (Toronto, NYSE Amex: SOQ) for US$87.54 million.

Niko paid US$75.5 million in cash and assumed $12.04 million in liability for the Block MG E&P license. Sonde will be entitled to reclaim an additional US$20 million on security deposit with BG International Ltd., a subsidiary of BG Group Plc, Reading, U.K. (London: BG) bringing the total unrestricted cash available from this transaction to approximately US$95 million.

Block 5(c) is off the east coast of Trinidad and Tobago.

Sonde president and chief executive Jack Schanck says, "The sale of Trinidad assets is part of a progression of strategic initiatives within Sonde to allow the company to focus its business strategy, increase profitability and improve its balance sheet position. This sale will enable Sonde to refocus its efforts on its core, operated exploration and development opportunities in Western Canada and North Africa and will better position the company for growth in production, cash flow and reserves over the next several years."

RBC Capital Markets was financial advisor to Sonde.