Mart Resources Inc MAUXF

OML18 numbers

[gibbonsj]

1/ The acquisition was completed pursuant to an Assignment Agreement between the Sellers and Eroton Exploration & Production Company Limited ("Eroton"), a special purpose company owned directly or indirectly by the Consortium members. The remaining 55% participating interest of OML 18 is owned by the Nigerian National Petroleum Corporation.

2/ Mart holds an indirect working interest in OML18 of approximately 10% through its share ownership of Martwestern Energy Limited that in turn owns 50% of the shares of Eroton.

3/ the assigned fields produced an average of approximately 14,000 gross barrels of oil equivalent per day of oil, condensate and gas during 2014.

If NNPC holds 55% then the Eroton Group's share of production is only 6300 bepd of which MMT's share is 10% or 630 bepd.
 

[Obeahman]

I am trying to figure out your numbers. Please clarify point number 2. and should it not be midewestern instead of Martwestern? Thanks

[bxju]

March 20, 2015 08:47 ET Mart Resources, Inc.: Purchase of Onshore Nigerian Oil Mining Lease 18 Completed CALGARY, ALBERTA--(Marketwired - March 20, 2015) - Mart Resources, Inc. (TSX:MMT) ("Mart" or the "Company") is pleased to announce that it is a member of a consortium (the "Consortium") that has acquired a 45% participating interest in Nigerian Oil Mining Lease