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Monday, April 25, 2011

Mart Notes Initial Test Results for Nigeria Well

Mart Notes Initial Test Results for Nigeria Well

Monday, April 25, 2011
Mart Resources Inc.

Mart Resources 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.

The first test on the UMU-7 well was conducted on the XII sand, a 17 foot oil zone, which flowed at a stabilized rate of 2,459 barrels oil per day ("bopd") of 36 API gravity oil through 2 7/8 inch tubing on a 40/64 inch choke at a flowing tubing pressure of 180 psi. Basic sediment and water (BS&W) was 15% with gas/oil ratio of approximately 21 standard cubic feet per barrel.

Testing of the XIV sand is currently underway, with tests on the X and XVI to follow. Further updates will be provided on these sands once initial testing has been completed.

The UMU-7 well has been completed using a dual-tubing string configuration with the XVI and XIV sands completed in the 3 1⁄2 inch tubing string and the XII and X sands completed in the 2 7⁄8 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.

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