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Created: 11/13/2010 06:30:40 PM - Followers: 31 - Board type: Free - Posts Today: 0

Mart Resources profile:

Mart’s core focus is on acquiring and developing oil and gas assets in the prolific Niger Delta of Nigeria. Mart recognized a unique opportunity to participate with Nigerian indigenous companies in the development of low-risk, high-reward proven but undeveloped oil and gas fields remaining onshore and in the shallow waters of Nigeria. The Niger Delta is one of the most prolific hydrocarbon basins in the world where Mart, Midwestern Oil and Gas Co. Plc. (the Operator of the Umusadege field) and Suntrust Oil Company Ltd., are successfully developing the Umusadege Oil Field located onshore in Delta State.

Oil production commenced from the Umusadege field in 2008 and has produced over 2 million barrels of oil as of beginning of 2010. The field was producing approximately 3,800 barrels per day in Q1, 2010. A development program will commence in July 2010 to fully develop and evaluate the field’s production and reserve potential.

Mart was one of the first foreign companies to establish partnerships with local Nigerian oil companies under the indigenous and marginal field programs, thus giving Mart strategic advantages due to the Company’s relationships and local industry knowledge. Mart is a strong supporter of the government’s initiatives to create indigenous Nigeria oil and gas and oil service companies. Mart looks forward to working with local Nigerian oil and gas companies in fulfilling the objectives of these important initiatives. Mart is evaluating new proven undeveloped oil and gas field acquisition opportunities with Nigerian companies with an objective of increasing production and reserve base.

 1167 Kensington Crescent NW
Suite 310
Calgary, AB T2N 1X7
Canada - Map
Phone: 403-270-1841
Fax: 403-521-0443


Wade Cherwayko, Chairman and CEO
Founder of Mart Resources Inc., Mr. Cherwayko has negotiated, financed and developed numerous oil and gas projects over the past 19 years in West and North Africa. Mr. Cherwayko has been active in Nigeria since the early 1990’s advising indigenous oil companies such as Yinka Folawiyo Petroleum Company Limited, Amni International and several other marginal field companies. Mr. Cherwayko was also a co-founder of Centurion Energy with operations focused in North Africa. Previous to working in Africa, he was a consultant for five years for oil companies operating in Canada and South America.   

Angela Clark, Chief Financial Officer
Angela Clark was appointed CFO 1st June 2010. She is a Fellow of the Association of Chartered Certified Accountants in good standing and has more than 20 years experience in the oil and gas industry gained with Shell Exploration and Production UK Ltd., Occidental (Caledonian) PLC and Hess PLC in Europe and West Africa. She has recently been advising in a consultant role with several smaller exploration and production companies.


From Mart resources Corporate presentation of June 10th 2010


      Mart is an independent international oil & gas company focused on production and development opportunities in the highly prolific Delta of Nigeria.
      Mart is publicly traded on the Toronto TSX Venture Exchange (MMT.V)
      Umusadege Field, in Delta State is Mart’s core strategic asset
      3,700 barrels/day current production from the Umusadege Field
      Significant Upside Potential in Umusadege Field
      Development Drilling to commence in Q2-Q3, 2010
      New Proven Field Opportunities being awarded in 2010/2011
·         Nigeria has the largest oil & gas reserve base in Sub-Saharan Africa with an estimated 30+ Billion bbls of oil and 180 Tcf of Gas
      Country Oil Production of 2.3 Million bbls per day
      Over 1,000 fields discovered with only 30% producing
      Government will be conducting a new license and marginal field allocation round in 2010/2011
      Long standing presence of Major Oil and Independent Companies provide
·         stability to industry
      Attractive risk/reward Profile
      Numerous proven – undeveloped field development opportunities
      Attractive Fiscal Regime
      High quality crude oil with good infrastructure for transportation and export
Nigeria’s Marginal Field Program
      Initiated in 2001: over 130 fields identified for the program
      24 “marginal fields” allocated to indigenous companies in 2003
      Considerably improved fiscal terms
      Reduced Petroleum Profits Tax
      Sliding-Scale Royalties to Government
      Farm-out Royalties to original owners
·         “Marginal Fields”
      Fields owned by major international oil companies and state oil companies which
·         have remained un-producing for over 10 years
      Fields not under development due to historical economic / fiscal reasons
      Exploration discoveries reported but not appraised
 Mart june 29th WEBCAST:
Mart financial statement for Q2 2010


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#591 Finally got some Umugini (well over a year late)!!!!! stock_peeker 12/03/2014 11:44:04 AM
#590 Mart Resources, Inc.: Oil Flow Commences Through Umugini Pipeline value1008 12/03/2014 11:22:11 AM
#589 And yet according to the NY Times special value1008 10/05/2014 04:08:00 PM
#588 Ebola impacting Liberia and Nigeria oil operations. Tim Lamb 10/05/2014 08:33:06 AM
#587 I could only get 1.118 as lowest price, value1008 09/26/2014 11:48:46 PM
#586 I bought mauxf today at 1.11 JB3729 09/26/2014 06:33:59 PM
#585 MART AUGUST UPDATE Tim Lamb 09/12/2014 08:10:45 AM
#584 Tim, thanks for the extra reminders here in value1008 08/28/2014 04:22:35 PM
#583 Hi Value1008: Tim Lamb 08/28/2014 04:10:56 PM
#582 MMT.v / MAUXF -- anyone care to comment value1008 08/28/2014 03:27:50 PM
#581 Gets awful quiet over here when the news pistolpete2 07/03/2014 06:31:05 AM
#580 have a good meeting guys...wish I was attending. JustForFun7 06/20/2014 10:59:21 AM
#579 You cannot miss 10 to 15 guys together lol DigiTech 06/19/2014 08:51:39 PM
#578 how will we recognize one another? the big guy 06/19/2014 07:46:24 PM
#577 By guy. I do not have PM. DigiTech 06/19/2014 03:32:16 AM
#576 4th annual pre-AGM Posters lunch DigiTech 06/19/2014 03:29:42 AM
#575 MART RESOURCES, INC. Tim Lamb 06/17/2014 05:05:45 PM
#574 what up with Mart??? the big guy 06/17/2014 12:48:45 PM
#573 Come on tell us! What is Allinontheturn 06/17/2014 12:28:45 PM
#572 Mart up big yesterday and today Southern Gal 06/17/2014 11:37:28 AM
#571 Hi All: Tim Lamb 06/10/2014 09:41:57 AM
#570 4th pre-AGM Posters lunch DigiTech 06/03/2014 12:18:50 AM
#569 Africa's Richest Man Bids For Shell Nigerian Asset: diggg 05/24/2014 04:03:12 PM
#568 nevermind...thats way old JustForFun7 05/23/2014 03:37:44 PM
#567 Mart Resources, Inc.: Appointment of Investor Relations Firm JustForFun7 05/23/2014 01:42:51 PM
#566 Color on OML 18 assets... diggg 05/22/2014 02:12:59 PM
#565 Shell Gives Bidders June Deadline for Four Oil Blocks: diggg 05/22/2014 02:10:40 PM
#564 4th annual Pre AGM lunch DigiTech 05/14/2014 01:08:32 PM
#563 good info! buccaneer1961 05/03/2014 12:09:08 PM
#562 just doing dd here buccaneer1961 05/03/2014 12:07:47 PM
#561 I like the oil/gas stocks buccaneer1961 05/03/2014 12:07:35 PM
#560 when do you expect it to be operational? buccaneer1961 05/03/2014 12:06:29 PM
#559 Toothless (((Huge smile))).eom) diggg 05/02/2014 12:15:40 PM
#558 OUTSTANDING!!! Nice gains today on both MMT and MAUXF Southern Gal 05/02/2014 11:12:24 AM
#557 NEWS: We are back in business... gsfl 05/02/2014 10:09:17 AM
#555 Mart February Operations and Production update: Tim Lamb 03/18/2014 04:42:52 PM
#554 Nigeria oil pipeline news, not MART specific. Tim Lamb 03/17/2014 07:10:47 AM
#553 Stock Pickers refreshes Mart Resources buy diggg 03/15/2014 10:39:33 AM
#552 MMT on the move Southern Gal 03/11/2014 02:29:31 PM
#551 What a pretty chart. Southern Gal 02/11/2014 02:00:34 PM
#550 January 20, 2014 Southern Gal 02/11/2014 01:59:58 PM
#549 Plus, they keep paying that sweet divvy Southern Gal 02/11/2014 01:57:57 PM
#548 Very nice rise over the last 2 days. Southern Gal 02/11/2014 01:56:05 PM
#547 when I chose Mart I used the basic the big guy 01/19/2014 01:14:42 PM
#546 You must of been looking at different financials bobby1231 01/16/2014 08:46:36 PM
#545 Thanks. Very informative. I always stick with big the big guy 01/12/2014 01:09:31 PM
#544 tbg: Mart had a tough 2013 due to pipe Tim Lamb 01/12/2014 11:21:43 AM
#543 Hey everyone, I am in this. Nice dividend the big guy 01/09/2014 08:25:04 PM
#542 We missed you, martguy! Nigel Boid 12/06/2013 12:45:07 AM
#540 me back/// technical partner issue/solve q1///me say tsx 0001guy 12/05/2013 10:39:33 PM
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