Mart Resources Company News

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Umusadege Well Flows for Marta Resources
Mart Resources and its co-venturers -- Midwestern Oil and Gas Company, operator of the Umusadege field, and SunTrust Oil Company -- are pleased to announce the UMU-9 well flow rate test results for the XIIIa, XIIIb, XIIa and X sands.
8:00 PM EST | April 03, 2012
Hydrocarbons Identified at Mart's Nigeria Well
Open hole wireline logs have been run with results indicating a total of 16 hydrocarbon bearing sands, according to Mart Resources.
8:00 PM EST | July 19, 2011
Mart Notes Initial Test Results for Nigeria Well
Mart and its co-venturers, Midwestern O&G (Operator of the Umusadege field) and SunTrust Oil, reported encouraging initial test results from the first zone tested on the UMU-7 well located in the Umusadege field, onshore Nigeria.
8:00 PM EST | April 24, 2011
Production Commences from UMU-5 Well Onshore Nigeria
Production has commenced from the UMU-5 well in the Umusadege field onshore Nigeria.
8:00 PM EST | April 16, 2009
Mart Resources, Partners Encouraged by UMU-5 Initial Test Results
Mart Resources and its partners have reported encouraging initial test results from the first production test on the UMU-5 well located at the Umusadege field in the Niger Delta.
8:00 PM EST | March 10, 2009
Mart, Partners Post Successful Drilling Results for Umusadege Field
Mart Resources and its partners have announced successful drilling results for the UMU-5 well in the Umusadege field, onshore Nigeria.
7:00 PM EST | January 29, 2009
Mart Drills Ahead at Nigeria's Umusadege Field
Mart has provided an update for its drilling activities and operations in Nigeria.
7:00 PM EST | January 19, 2009
Mart, Partners Start Up Production at UMU-3 Onshore Nigeria
Mart Resources, along with its Operator and partners, announced the commencement of initial oil production from the UMU-3 well located in the Umusadege field, onshore Nigeria.
8:00 PM EST | July 23, 2008
Mart et al Marching Forward with Umusadege Onshore Nigeria
Construction of the 10,000 barrels of oil per day (bopd) early production system and the gathering and metering facilities and tie-in to the existing adjacent pipeline are nearing completion.
7:00 PM EST | February 24, 2008
Mart Resources Nearing First Production at Umusadege
The majority of the early production equipment being used at the Umusadege field has been installed and is currently being tied into storage tanks and the export pipeline.
7:00 PM EST | January 13, 2008
Mart Releases Initial Results of Well Test at Umusadege Field
Mart Resources announced results of the initial cleanup flow rates from the UMU-N2 well located in the Umusadege field, onshore Nigeria.
7:00 PM EST | November 28, 2007
Mart Commences Well Test at Umusadege Field
Mart Resources and its partners say that testing operations at the Umu-N2 well located in the Umusadege field have commenced.
7:00 PM EST | November 20, 2007
Mart Resources Reports on Umusadege Field
Once production starts, the company and its partners plan to drill again in Nigeria.
8:00 PM EST | October 28, 2007
Mart Names New COO
Mart Resources appoints Jay Scott to COO position.
8:00 PM EST | October 28, 2007
Mart Resources Completes Third Private Placement
Mart Resources has completed a third private placement closing of 10,442,625 common shares for aggregate gross proceeds before commissions and issuance costs of $4,177,050.
8:00 PM EST | October 10, 2007
Mart Resources Increases Size Private Placement
Mart intends to increase the size of its previously announced private placement from 80 million common shares to up to a mx of 105 million shares at a price of 40 cents per share.
8:00 PM EST | September 26, 2007
Mart Resources Closes Private Placement
Mart Resources has completed a first closing of its previously announced 80,000,000 share private placement.
8:00 PM EST | September 19, 2007
Mart Resources in Dispute with Partner on Qua Ibo Field in Nigeria
At the Qua Ibo Field, Mart is in a dispute with its partner, Network Exploration & Production Limited, regarding Mart's contractual rights in the Qua Ibo field.
8:00 PM EST | August 28, 2007
Mart Resources to Conduct Private Placement
Mart Resources, subject to receipt of regulatory approval, will be conducting a private placement of up to 60,000,000 units for aggregate gross proceeds before expenses of up to $33,000,000 CDN.
8:00 PM EST | July 18, 2007
Mart Resources Pleased with Results from Seond UMU-1 Production Test
Mart Resources has completed a second production test from one of thirteen oil-bearing zones identified in the UMU-1 well at the Umusadege field in the Niger Delta of Nigeria.
8:00 PM EST | July 04, 2007
Mart Sees Encouraging Results from UMU-1 Production Test
Mart Resources, Midwestern Oil and Gas Company and Suntrust Oil Company Nigeria Limited, report encouraging results from a production test of one of thirteen oil-bearing zones identified in the UMU-1 well at Umusadege in the Niger Delta of Nigeria.
8:00 PM EST | June 26, 2007
Mart, Partners to Perforate and Test UMU-1
Mart Resources, Inc. and its partners Midwestern Oil and Gas Company PLC (Operator) and Suntrust Oil Company Nigeria Limited on Monday report that the UMU-4 well they recently drilled in the Umusadege Field in Nigeria has been cased and suspended.
8:00 PM EST | June 03, 2007
Mart Announces Nigeria Update, Debt Financing
Mart Resources, Inc. and its partners Midwestern Oil and Gas Company PLC and Suntrust Oil Co. Nigeria Limited reported an update on the UMU-4 well they recently drilled in the Umusadege Field in Nigeria.
8:00 PM EST | May 02, 2007
Mart: Rig 201 En Route to Nigeria
Mart Resources, Inc. announced that Rig 201 was shipped from the Port of Houston on March 21, 2007, destined for Nigeria.
8:00 PM EST | March 26, 2007
Mart Closes Common Share Private Placement
Mart Resources, Inc. has completed a second closing of 2,998,333 units of its previously announced private placement for aggregate proceeds of $1,799,000.
7:00 PM EST | February 25, 2007
Mart Issues Update on Niger Delta Well
Mart Resources, Inc. and its partners, Midwestern Oil and Gas Company PLC 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.
7:00 PM EST | February 07, 2007
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.
7:00 PM EST | December 20, 2006
Mart Resources Raising Exploration Funds
Mart Resources will be conducting a private placement of secured convertible promissory notes and unsecured convertible promissory notes to a European-based fund for aggregate gross proceeds of $17,750,000.
8:00 PM EST | October 24, 2006
Mart Resources Says Preparations Underway for Umusadege Development Well
Mart Resources says that drill site planning and preparation are underway for the first development well, "DA1" in the Umusadege Field in Nigeria.
8:00 PM EST | May 31, 2006
Mart Resources Inks Deal to Participate in Ke Oilfield Development
Mart Resources has signed an agreement with Del-Sigma Petroleum Limited that grants Mart the right to participate with Del-Sigma in the evaluation and development of the Ke Oil Field in Nigeria.
7:00 PM EST | January 15, 2006
Mart Resources on Track with Nigerian Development Plans
Mart Resources says that the drilling rig it acquired in Canada to facilitate the Company's drilling commitments in proven undeveloped oil fields in Nigeria has recently cleared customs in that country.
7:00 PM EST | January 11, 2006
Mart Resources Closes Private Placement
Mart Resources says that it has successfully closed a US dollar denominated private placement of 40,000,000 common shares to US and offshore institutional investors.
8:00 PM EST | October 06, 2005
Mart Updates on AIM Listing
Mart Resources says that it expects to have its shares listed on the Alternative Investment Market (AIM)of the London Stock Exchange within eight weeks.
8:00 PM EST | September 18, 2005
Mart Resources Closes Convertible Note Financing
Mart Resources has successfully closed a private placement of convertible unsecured promissory notes with a uropean-based fund and other institutions or aggregate gross proceeds of $9,500,000 CDN.
8:00 PM EST | June 15, 2005
Mart Begins Work on Eremor#1 Well in Nigeria
Mart Resources reports that a service rig is on location and work has commenced on the re-entry and testing of the Eremor #1 well in the Eremor Oil Field, Nigeria.
8:00 PM EST | May 16, 2005
Mart to Participate in Qua Ibo Field in Nigeria
Mart Resources has signed a formal agreement with Network Exploration & Production Nigeria Limited that grants Mart the right to participate with Network in the development of the Qua Ibo Oil Field in Nigeria.
7:00 PM EST | March 30, 2005
Mart Resources Contracts Rig for Eremor #1 Well
Mart Resources has entered into an agreement for a rig service contract with Tecon Oil Services for work-over rig to be used for the re-entry and extended testing of the Eremor #1 well.
7:00 PM EST | March 27, 2005
Mart Resources Begins Work on Eremor Field in Nigeria
Mart Resources and its Nigerian partner, Excel Exploration & Production Company report that operations for the preparation of the Eremor #1 well site are presently underway.
7:00 PM EST | March 14, 2005
Mart to Participate in the Qua Iboe Field in Nigeria
Mart Resources has signed a Memorandum of Understanding with Network Exploration & Production Nigeria Limited that grants Mart the right to participate with Network in the evaluation and development of the Qua Iboe Oil Field in Nigeria.
7:00 PM EST | December 12, 2004
Mart Completes Eremor Field Agreement
Mart Resources has signed the formal agreement with Excel Exploration & Production Company Limited that grants Mart the right to participate in the development of the Eremor Oil Field in Nigeria with Excel.
8:00 PM EST | October 18, 2004