Mart Resources Reports on Umusadege Field

Mart Resources and its partners Midwestern Oil and Gas (operator) and Suntrust Oil provide an update on their operational activities at the Umusadege field, onshore Nigeria.

At the UMU-1 well, downhole completion tools and equipment have been purchased and will be mobilizing to the field shortly. Production facility design has been completed and the equipment required for early production has been contracted.

After production commences from the UMU-1 well, Mart and its partners anticipate drilling a twin well to the UMU-1 well, to test some of the additional 11 hydrocarbon zones identified.

As announced in July 2007, Mart and its partners tested the UMU-1 well at a combined flow rate of 6,021 barrels oil per day from two of 13 hydrocarbon-bearing zones identified in the well.

Mart also reports that equipment is being mobilized to the suspended UMU-N2 wellsite to prepare for an extended production test. The UMU-N2 well was drilled by Elf in 1980, and flowed at a rate of 1,673 barrels oil per day from the zone that is currently being prepared for testing. The Company will provide further updates once production testing has been completed.

Umusadege development plans include the construction of a central production facility, installation of quality and volume measurement equipment, and a manifold, system. The Umusadege oilfield will then be tied into a recently constructed oil pipeline that runs through the field to a custody transfer point at an Agip pumping station 15 kilometers away. Initial oil production is anticipated to commence by year-end.


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