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Mart Resources Inc MAUXF



OTCPK:MAUXF - Post by User

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Post by dukemanon Nov 21, 2007 10:11am
332 Views
Post# 13843280

News out today on Umusadege test

News out today on Umusadege test Mart Resources Commences Well Test at Umusadege Field CALGARY, ALBERTA, Nov 21, 2007 (Marketwire via COMTEX News Network) -- Mart Resources, Inc. (TSX VENTURE:MMT) and its partners Midwestern Oil and Gas Company PLC (Operator) and Suntrust Oil Company Nigeria Limited are pleased to announce that testing operations at the Umu-N2 well located in the Umusadege field have commenced. After an initial 10 hour flow period, the well has been temporarily shut in to install additional testing equipment anticipated to be in place by the end of the week. The Company will provide further updates once final production testing has been completed. The Umu-N2 well test is from a deeper oil zone than the previously-announced Umu-1 well test. At the Umu-1 well, completion equipment including tubing, wellhead and down hole production packers is currently mobilizing to the well location. It is anticipated that the well will be completed for dual-zone production within two weeks. As announced in July 2007, Mart and its partners tested the Umu-1 well at a combined flow rate of 6,021 barrels oil per day. Construction of surface production facilities has commenced at Umu-1, including a manifold, separation and metering systems that are being tied into a recently constructed oil export pipeline that runs through the Umusadege field to an export terminal 15 km away. Additional information regarding Mart Resources, Inc. is available on the company's website at www.martresources.com. Certain statements in this News Release constitute forward-looking statements. Such forward-looking statements involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. SOURCE: Mart Resources, Inc. Mart Resources, Inc. - London David Parker +44 207 953 4090 Email: David.Parker@martresources.com Mart Resources, Inc. - Calgary David Halpin (403) 270-1841 Email: David.Halpin@martresources.com Website: www.martresources.com
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