Canada's Niko Resources posts tenth straight quarterly loss

Fri Nov 15, 2013 8:21am EST
 
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Nov 15 (Reuters) - Canadian oil and gas producer Niko Resources Ltd reported its tenth straight quarterly loss and said it might not be able to meet its current liabilities and exploration commitments.

The company said it had a working capital deficiency of $110 million as of Sept. 30.

Niko Resources also said it would sell some non-core assets in India and Trinidad.

The company's net loss widened to $149 million in the second quarter ended Sept. 30 from $28.6 million, a year earlier.