Value Microcaps Junior Energy

[diggg]

MMT.v/MAUXF Mart moves rig to UMU-9 well, plans November drilling

2011-11-04 08:45 ET - News Release


Mr. Wade Cherwayko reports

MART RESOURCES, INC. OPERATIONS AND PRODUCTION UPDATE

Mart Resources Inc. and its co-venturers, Midwestern Oil and Gas Company PLC (operator of the Umusadege field) and Suntrust Oil Company Ltd., are providing an operational update on the Umusadege field, onshore Nigeria.

Rig Mobilized to UMU-9 Well Location

Mobilization of the NRG 201 drilling rig to the UMU-9 location has commenced. The UMU-9 well is located approximately 2 1/2 kilometers from Mart's UMU-8 well on a previously constructed three slot drilling pad. It is currently anticipated that the UMU-9 well drilling operations will commence by the end of November 2011.

October 2011 Production Update

Crude oil deliveries into the export pipeline from the Umusadege field for the month of October 2011 averaged 7,209 barrels of oil per day (bopd). Umusadege field downtime for October was approximately 4.1 days due mainly to third party pipeline operational shutdowns and export facility capacity curtailments. Negotiations with Agip, the Nigeria operator of the export pipeline, to increase export capacity for the Umusadege field have been ongoing and are nearing conclusion.

Mart to Present at Three International Oil and Gas Conferences

Wade Cherwayko, Chairman and CEO of Mart Resources will be a guest presenter at three international oil and gas conferences in the month of November. The location and details of the conferences are listed below and also posted on Mart's web site under Events.

1. November 4, 2011 - Conference Africa Oil Week, Cape Town, South Africa:

http://www.petro21.com/programs/?id=689

2. November 7/8, 2011 - Oil & Gas Forum, New York, USA:

http://minellc.com/pdf/oagff11_invitation.pdf

3. November 16, 2011 - Oil Council, London, UK

http://www.oilcouncil.com/event/weca/agenda/

Additional information regarding Mart is available on the Company's website and under the Company's profile on SEDAR at www.sedar.com.

We seek Safe Harbor