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$MAUXF
~ Daily Par Sar Buy Signal ~ Criteria alert triggered during a recent trading session!
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~ $MAUXF ~ Daily Par Sar Buy Signal ~ Criteria alert triggered during a recent trading session!
$MAUXF has just triggered the "Parabolic SAR Buy Signals" scan criteria at Stockcharts.com
~ http://tinyurl.com/SAR-BUY ~
For a more in Depth study and DD profile, similar to the one contained in this link: ~ http://tinyurl.com/DDexample ~
Click the following link and type ticker or brief message asking me about the DD: ~ http://tinyurl.com/GET-THE-DD ~
What does the scan "Parabolic SAR Buy Signals" mean? Below is an image example and study link.
~ http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:parabolic_sar ~
To find other similar posts of "MAUXF" utilize the links that follow.
Search MACDgyver's "Parabolic SAR Buy Signals" posts: ~ http://investorshub.advfn.com/boards/msgsearchbymember.aspx?searchID=251916&srchyr=2013&SearchStr=ParSarBuyScan ~
Search MACDgyver's posts for symbol "MAUXF": ~ http://investorshub.advfn.com/boards/msgsearchbymember.aspx?searchID=251916&srchyr=2013&SearchStr=MAUXF ~
Search Ihub for "MAUXF" posts: ~ http://investorshub.advfn.com/boards/msgsearch.aspx?SearchStr=MAUXF ~
For more in depth training and information visit Chartschool on the Stockcharts page.
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Mart's primary focus is bringing into production its Nigerian marginal proven undeveloped fields: the Umusadege Field and the Qua-Ibo Field. Mart has established long relationship in West Africa and in particular Nigeria where Mart has a strong presence with an office in Lagos and an operational base in Port Harcourt. On each of the fields, Mart has entered into Financing and Technical Assistance agreements with the farm-out operators. To achieve its aim in a very tight drilling market, Mart has acquired two onshore drilling rigs that will initially be used exclusively on their various Nigerian properties. All Mart's assets and prospects are analysed and reviewed by Chapman Petroleum Engineering in Calgary and Horizon Energy Partners in The Hague.
Operations Update
Mart and its partners, Midwestern Oil & Gas Company PLC (Operator) and Suntrust Oil
Company Nigeria Limited, are pleased to announce that the majority of the rental
production equipment in use at the Umusadege oil field has been replaced with
permanent facilities. The main equipment replaced includes production separation
facilities, manifold, and interconnecting piping. The installation of the permanent facilities
will result in a net reduction of direct field operating costs of approximately $2.60/barrel
based upon average daily production rates for January 2010.
Average daily gross production for January 2010 was 3,935 barrels of oil per day
(“bopd”) from the UMU-1 and UMU-5 wells. Of the total production for this period, the
UMU-1 well (commingled XIIa and XIIb zones) contributed an average of 1,710 bopd
and UMU-5 well contributed an average of 2,225 bopd.
With stable production and strong oil prices over the past several months, Mart has been
able to significantly reduce trade payables and continue to service its bank debt in a
current and timely manner. Due to continuing strong cash flows, Mart and its partners
are now in a position to continue with development activities on the Umusadege field in
the very near future.
Mart and its partners are currently finalizing development plans to increase production
and reserves from the Umusadege field in 2010. Planning is underway for development
drilling that is anticipated to commence in early Q2/10. It is also anticipated that the two
existing producing wells will be re-completed in Q2/10 and Q3/10.
About Mart Resources:
Mart Resources Inc. is an independent, international petroleum company focused on
drilling, developing and producing oil and gas from low-risk proven petroleum properties
in Africa. The Company owns two drilling rigs, has strong local relationships and has
formed joint venture partnerships with indigenous operators in Nigeria.
For more information, please contact Wade Cherwayko at London # +44 207 953 4090
or e-mail: Wade@martresources.com, or David Halpin at Calgary # (403) 270-1841 or email:
David.Halpin@martresources.com. Additional information regarding Mart
Resources, Inc. is available on the company’s website at www.martresources.com.
CALGARY, ALBERTA--(Marketwire - Dec. 9, 2010) - Mart Resources, Inc. (TSX VENTURE:MMT - News; "Mart" or the "Company") and its co-venturers, Midwestern Oil and Gas Company Plc. (Operator of the Umusadege field) and Suntrust Oil Company Limited are pleased to report encouraging initial test results from the first and second of four planned production tests on the UMU-6 well located in the Umusadege field.
The first test on the UMU-6 well was conducted on the XVII oil zone, which is the deepest zone to be tested at 8,618 feet with 10 feet of oil pay. During the test, the well flowed at stabilized rates up to 3,102 barrels per day of 42.5 API gravity oil through 3 1/2 inch tubing on a 26/64 inch choke at a flowing tubing pressure of 575 PSI. Water production was less than 0.2% and the gas/oil ratio was approximately 51 standard cubic feet per barrel.
The second test was conducted on the XVI (b), a 20 foot oil zone, which flowed at stabilized rates up to 3,433 barrels per day of 40 API gravity oil through 3 1/2 inch tubing on a 22/64 inch choke at a flowing tubing pressure of 610 PSI. Water production averaged 0.3% and the gas/oil ratio was approximately 60 standard cubic feet per barrel.
The two additional zones to be tested are the XIII (b) with 23 feet of oil pay and the XIII (a) with 18 feet of oil pay. Further updates will be provided on these zones following completion of testing.
All of the UMU-6 well's primary objectives, including the XIII, XIV, XV and XVI sands were hydrocarbon bearing with preliminary results indicating gross oil pay of 40 feet, 24 feet, 6 feet and 18 feet from these sands respectively. A deeper XVII sand was also encountered with initial results indicating 8 feet of gross oil pay. The XIII, XIV, XV, XVI and XVII sands have not previously been assigned reserves in the Company's most recent NI 51-101 reserve report. The Company plans to update its reserve report once the current testing program of the four zones in the UMU-6 well has been completed.
CALGARY, ALBERTA--(Marketwire - Feb. 14, 2011) - Mart Resources, Inc. (TSX VENTURE:MMT) ("Mart" or the "Company") and its co-venturers, Midwestern Oil and Gas Company Plc. (Operator of the Umusadege field) and Suntrust Oil Ltd., provide the following production and drilling update at the Umusadege field.
We are pleased to announce that production at the Umusadege Field has reached an all-time high of 8,533 barrels oil per day ("bopd") and that drilling activities are progressing at the UMU-7 well.
UMUSADEGE PRODUCTION UPDATE
The Umusadege field is currently producing at 8,533 bopd from three wells: the UMU-1 well at 2,005 bopd from the XIIa and XIIb sands; the UMU-5 well at 2,477 bopd from the IX sand; and the UMU-6 well at 2,164 bopd from the XIIIa sand and 1,887 bopd from the XVII sand. Completion of repairs on pumps at third party owned and operated export facilities has resulted in this increased production level compared to levels announced on January 19, 2011.
Midwestern, Suntrust and Mart are negotiating with the third party pipeline owners and the crude oil export company to further increase the export allocation for the Umusadege field to accommodate additional production from existing and future wells. Upon completion of these negotiations, it is anticipated that the aggregate gross Umusadege field production could increase to between 9,000 and 10,000 bopd from the current three wells on production.
The UMU-6 well was completed in December 2010 with a dual 3 ½ inch and 2 ? inch tubing string configuration. The XVII, XVI and XIIIb sands were completed in the 3 ½ inch tubing string and the XIIIa sand was completed in the 2 ? inch tubing string. As a result of the completion technology used, the four zones that have been completed can be opened and closed at any time. Although four zones have been completed and tested it is not technically feasible to produce the UMU-6 well from all four zones simultaneously due mainly to capacity limitations in the tubing and initial pressure differential between the sands. In accordance with good oil field practices and well test results, production is occurring from two zones at the present time. Production will be monitored over the next few months to determine the optimal combination of sands to be produced from the UMU-6 well.
In addition, to ensure there is adequate pipeline capacity to meet anticipated full Umusadege field development requirements, Midwestern, Suntrust and Mart are currently evaluating new pipeline and export options to provide increased future production capacity and to provide another independent export route. Upgrading of the permanent central production facility located at the Umusadege field to process up to 30,000 bopd is currently ongoing.
UMU-7 WELL
The UMU-7 well has reached its objective depth in the 16-inch upper hole section of 3,685 feet and 13 ? inch casing is currently being run and cemented. Once this casing is in place, a 12 ¼ inch hole will be drilled to an estimated total depth of approximately 8,800 feet and 9 ? inch casing will be run. It is anticipated the UMU-7 well will then be tested, completed and placed on production.
As previously announced, it is planned that the UMU-7 well will be completed as a dual tubing string configuration allowing for the potential of multiple zones to be produced from the same well bore. The UMU-7 well's primary objectives are the previously identified VIII sand and the new X11c, XIV and XV sands that were discovered by the UMU-6 well in December 2010. The UMU-7 well is being drilled from the same three-slot drilling pad as the recently drilled and completed UMU-6 well. The third slot on the pad will be used to drill the UMU-8 well.
Chairman's comment:
Wade Cherwayko, Chairman and CEO of Mart Resources Inc, said "The UMU-6 well represents a significant milestone, having more than doubled Umusadege production from the 2010 average of 3,938 bopd to 8,533 bopd. With drilling activity continuing on UMU-7 well and future development drilling, we also look forward to further increases in production in the near term."
