Mart Resources Inc MAUXF

UPDATE

[BCPInvest]

I have been regularly keeping in touch with management and they are as disappointed with the outcome of the first well as are all investors. I understand the rig currently is idle and still on location awaiting a decision to do a sidetrack. On key factor are the Nigerian elections scheduled for next Tuesday. Following this we should again be seeing news come from MMT. It is my opinion we should have seen the rig immediatly move to the next location for the reentry operation that was planned for anyway. The failure on the first well has thrown off the plan but it is all going to get done eventually. Really poor planning by these guys. The second rig should be on location by the first week of May. So, what we have is a sidetrack opportunity which will be quick and likely to succeed followed by a reentry of a former producer and then the second rig will begin on a new play. All of this by the end of May which is a six week time frame. I suggested that it was time to hold a conference call bringing everyone up to date. We shall see if they follow through or continue on the same path.