Mart Issues Update on Niger Delta Well

Mart Resources, Inc. and its partners, Midwestern Oil and Gas Company PLC (Operator of the Umusadege Field) and Suntrust Oil Company Nigeria Limited, said that the Umusadege-4 well has been drilled to a depth of 3,468 feet and intermediate casing has been set. The partners are now preparing to drill ahead towards the target reservoir zones to a total depth of 8,500 feet. The formations encountered by the well so far are in line with the well prognosis and offset wells.

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 was production tested at a combined rate of 2,654 barrels of oil per day.

The Umu-4 well is being drilled by Mart's majority-owned NRG Drilling Rig 101.

Mart does not plan to issue any further announcements regarding operations on the Umu-4 well until after the well has reached TD and wireline logs have been run, unless required pursuant to TSX rules.

Mart Resources Inc. is an independent oil & gas company focused on bringing African oil fields into production that are proven but have not yet been developed.


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