Mart: UMU-4 Spuds in Nigeria

Mart Resources, Inc. and its partners Midwestern Oil and Gas Company PLC, operator of the Umusadege oil field, and Suntrust Oil Company Nigeria Limited said that the UMU-4 well spudded Wednesday in the Umusadege oil field in Nigeria.

A second development well (UMU-5) will be drilled at Umusadege after UMU-4 has been completed and production tested. The Parties also intend to drill a third step-out well in the second half of 2007.

As previously announced the Umusadege oil field is located in the central Niger Delta and was awarded to Midwestern as operator and Suntrust under the Nigerian Government's Marginal Field Allocation Program. Three wells were drilled and cased in the field between 1974 and 1980. The N2 well, which was the only well production tested, flowed at a combined rate of 2,654 barrels of oil per day.

The Umusadege wells are being drilled by Mart's majority owned NRG Drilling Rig 101.


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