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 update on
Umusadege field production and drilling operations.


April 2012 Production Update

The UMU-9 well commenced production during the first week of April 2012.
Umusadege field production during the month of April averaged 12,206 bopd.
Umusadege field downtime during April 2012 was less than one day. Total crude
oil deliveries into the export storage tanks from the Umusadege field for the
month of April, adjusted for estimated pipeline losses, were approximately
366,000 bbls.


UMU-10 Well

The NRG 201 drilling rig has been moved to the UMU-10 slot on the current
drilling pad and the rig has been prepared for drilling. There has been a delay
in the receipt of some long lead time items and accordingly it is currently
anticipated that the UMU-10 well will be spudded before the end of June 2012.
The primary objectives of the UMU-10 well will be the oil-bearing sands
identified in the 8 1/2 inch deviated hole section of the UMU-9 well. 


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 relations
specialists for all corporate updates and investor inquiries:




FronTier Consulting Ltd.                                                    
Mart toll free # 1-888-875-7485                                             
Attn:    Sam Grier                                                          
         Caleb Gilani                                                       
Email:   inquiries@martresources.com                                        



Note: Except where expressly stated otherwise, all production figures set out in
this press release, including barrels of oil per day ("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, past production levels and crude oil deliveries are not
necessarily indicative of future production levels and crude oil deliveries. 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 the UMU-10 well will be spud when indicated or that such well will be
successfully drilled. 


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.


Mart Resources (TSXV:MMT)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Mart Resources Charts.
Mart Resources (TSXV:MMT)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Mart Resources Charts.