RE:More bad newsYes, it is.
NEWS RELEASE
MART RESOURCES, INC.
June 27, 2013
MART UPDATES EXPECTED SPUD DATE OF UMU-11 WELL; CORRECTION OF PREVIOUSLY ANNOUNCED DIVIDEND EX-DIVIDEND DATE
• The UMU-11 well is expected to spud in July 2013 once additional drill slot preparations on the existing pad are completed.
• The main objectives for UMU-11 include the further appraisal and development of proven oil reservoirs encountered, but not completed, in the UMU-9 and UMU-
10 wells.
Calgary, Alberta - Mart Resources, Inc. (TSX-V: MMT) ("Mart" or the "Company") and its co-venturers, Midwestern Oil and Gas Company Plc. (Operator of the Umusadege field) and SunTrust Oil Company Limited are pleased to provide an update on Umusadege drilling operations.
UMU-11 Well Update
The UMU-11 well was originally planned to spud in the third slot of the UMU-9 drilling pad. When trying to clean out the 20-inch conductor that was previously pile driven to a depth of approximately 300 feet, the UMU-11 well encountered an obstruction at a depth of approximately 275 feet. Retrieval and milling operations were attempted to utilize this drill slot, but were unsuccessful. It is believed that the 20-inch conductor is bent or kinked, which caused an obstruction. The rig will now be skidded forward to a new slot utilizing the existing drilling pad.
The main objectives for the UMU-11 well are proven oil reservoirs encountered, but not completed, in the UMU-9 and UMU-10 wells. These sands were previously logged and sampled. The UMU-11 well's objective is to test four of these oil-bearing sands, and if successful, complete these sands for production.