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Announces Production Update for the Umusadege Field
May 08, 2009 06:05AM
May 8, 2009
Mart Announces Production Update for the Umusadege Field
CALGARY, ALBERTA--(Marketwire - May 8, 2009) - Mart Resources, Inc. (TSX VENTURE:MMT) ("Mart" or the "Company") and its partners, Midwestern Oil & Gas Company PLC (Operator) and Suntrust Oil Company Nigeria Limited are pleased to provide the following update regarding production from the Umusadege field, onshore Nigeria.
The combined production from the two producing wells at the Umusadege field is 4,280 barrels of oil per day. The UMU-1 well is producing approximately 1,818 barrels of oil per day from the XIIb zone and the UMU-5 well is producing 2,462 barrels of oil per day from the IX zone.
Mart and its partners are advancing to the final completion and commissioning of permanent production facilities, following which it is anticipated that production from the wells will be optimized.
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. Mart has acquired interests in and begun development of three onshore Nigerian oil fields.