MMT Mart Resources

Mart Resources, Inc. (TSX VENTURE: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 operational
update on the Umusadege field, onshore Nigeria.


UMU-9 Well Update

The UMU-9 well has reached a final total drilling depth of approximately 10,848
feet. As previously announced, the intermediate section drilled to 8,311 feet
indicated 260 feet of gross oil pay from eleven sands based on open hole logs. 9
5/8 inch casing was run in the intermediate hole section. The lower 8 1/2 inch
deviated section of the well drilled from 8,311 feet to 10,848 feet was open
hole logged and indicated an additional 170 feet of gross oil pay in eight
sands. This resulted in a total cumulative gross oil pay of approximately 430
feet in the 19 sands encountered by the well. 


Pressure and fluid sample tests were taken on the six deepest sands in the 8 1/2
inch hole section with preliminary results indicating five sands containing
light oil and condensate and one sand containing mainly gas. Further analyses
are being conducted on the samples collected over these sands. The deviated 8
1/2 inch section of the well has now been cemented off, as this hole section was
never intended to be completed in the UMU-9 well. Completion and testing
operations are currently being conducted on the 9 5/8 section of the well. The
Company has retained RPS Energy, independent reserve evaluators, to prepare new
reserve reports as of December 31, 2011 and intends to update the year-end
reserve report at a future date following testing of the UMU-9 well.


December 2011 Production Update

Crude oil deliveries into the export pipeline from the Umusadege field for the
month of December averaged 6,230 barrels of oil per day ("bopd"). Umusadege
field downtime during the month was approximately 11.5 days, mainly as a result
of export pipeline maintenance and pipeline injection constraints due to limits
on export storage tank capacity. The average field production based on producing
days was 10,804 bopd.


January 2012 Production Update

Crude oil deliveries into the export pipeline from the Umusadege field for the
period of January 1, 2012 to January 30, 2012 averaged 6,959 bopd. During this
same period, there was approximately 12 days of field production downtime due to
various shutdowns of the export pipeline and export storage tank capacity
constraints at the third party export terminal. The average field production
based on producing days was 11,754 bopd for the period.


2011 Pipeline Losses

The owners of the export pipeline have notified Mart and its co-venturers that
export pipeline owner's estimate of the Umusadege field's share of crude oil
lost or taken from the export pipeline during the 2011 calendar year is
approximately 213,000 barrels of oil. Mart's share of the crude oil lost or
taken will be calculated based upon its average share of production in 2011. The
final export pipeline losses to be allocated to the Umusadege field for 2011 are
expected to be reconciled with the export pipeline owner by the end of Q1 2012.
Mart's share of the estimated charge will be reflected in Mart's December 31,
2011 financial statements. 


Additional information regarding Mart is available on the Company's website at
www.martresources.com and under the Company's profile on SEDAR at www.sedar.com.


INVESTOR RELATIONS:

Investors are also welcome to contact one of the following investor relation's
specialists for all corporate updates and investor inquiries:


FronTier Consulting Ltd.

Mart toll free # 1-888-875-7485

Attn: Sam Grier or Caleb Gilani

Email: inquiries@martresources.com

Note: Except where expressly stated otherwise, all production figures set out in
this press release, including bopd, reflect gross Umusadege field production
rather than production attributable to Mart. Mart's share of total gross
production before taxes and royalties from the Umusadege field fluctuates
between 82.5% (before capital cost recovery) and 50% (after capital cost
recovery).


Forward Looking Statements and Risks

Certain statements contained in this press release constitute "forward-looking
statements" as such term is used in applicable Canadian and US securities laws.
Any statements that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions or future
events or are not statements of historical fact and should be viewed as
"forward-looking statements". These statements relate to analyses and other
information that are based upon forecasts of future results, estimates of
amounts not yet determinable and assumptions of management. Such forward looking
statements involve known and unknown 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. 


In particular, there is no assurance that the drilling program for the UMU-9
well will be successful or will successfully appraise the extensions of the
shallower reservoirs as contemplated, or successfully deviate the deeper
untested targets. Statements (express or implied) regarding the ability of the
Company to successfully complete, test and commercially produce, transport and
sell oil from the UMU-9 well (or any one or more of the hydrocarbon sands
identified by the UMU-9 well), should all be viewed as forward-looking
statements. The well log interpretations indicating hydrocarbon-bearing sands
are not necessarily indicative of future production. There is no assurance that
reserves will be assigned to such hydrocarbon bearing sands. 


In addition, statements (express or implied) concerning the allocation of export
and pipeline capacity to the Umusadege field from the third party pipeline
owners, should be viewed as forward looking statements. There is no assurance
that additional pipeline export volumes will be made available to the Umusadege
field. Past production levels are not necessarily indicative of future
production levels. There is no assurance that the current dispute with the
export pipeline owner regarding export pipeline losses will be resolved by the
periods indicated or at all. There is a risk that future export pipeline losses
will be attributable to the Umusadege field.


There can be no assurance that such forward-looking statements will prove to be
accurate as actual results and future events could vary or differ materially
from those anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking statements contained in this news release. The
forward-looking statements contained herein are expressly qualified by this
cautionary statement.


Forward-looking statements are made based on management's beliefs, estimates and
opinions on the date the statements are made and the Company undertakes no
obligation to update forward-looking statements and if these beliefs, estimates
and opinions or other circumstances should change, except as required by
applicable law.

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