Mart, Partners Post Successful Drilling Results for Umusadege Field

Mart Resources and its partners, Midwestern Oil & Gas Company PLC (Operator) and Suntrust Oil Company Nigeria Limited, are pleased to announce successful drilling results for the UMU-5 well in the Umusadege field, onshore Nigeria.

The UMU-5 well has been drilled to a total depth of 7,770 feet. Open hole wireline logs have been run and the preliminary results indicate that the well encountered eight (8) oil-bearing sandstone reservoir zones between depths of 6,680 feet and 7,710 feet, with a combined net pay thickness of approximately 175 feet. Mart and its partners plan to complete their evaluation of the well, run casing and then perform production tests on selected oil zones. It is planned that the well will be completed for production from multiple zones using a dual-string completion. The UMU-5 well is located approximately 500 feet southeast of the existing field production facilities near the UMU-1 well.

Production from the Umusadege field commenced in April 2008 from the UMU-1 well, which is completed for production from the XIIa and XIIb zones. The UMU-5 well was designed to test and produce from two or three additional oil zones that lie above the XIIa and XIIb oil zones. The UMU-5 well was drilled using Mart's NRG-101 rig.