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 providing the following update on
Umusadege field production and drilling operations.


November 2012 Production Disruptions

Due to an ongoing shutdown of the export pipeline that started on October 30,
2012, there was no production from the Umusadege field in November and December
2012. At the beginning of November 2012 there was a shipment of crude oil
produced in October 2012 of 320,000 barrels of oil ("bbls"). Nigerian Agip Oil
Company ("AGIP"), the pipeline operator, has advised that while repairs to the
export pipeline have commenced, the nature of the damage has prevented a
temporary repair and that a partial replacement of the line is required. The
damaged pipeline is located in a river crossing. AGIP advises that it is working
diligently to repair the export pipeline to enable the restoration of normal
pipeline operations at the earliest possible date. 


The Brass River Export Terminal, where oil production from the Umusadege field
is shipped, continues to experience loading delays and AGIP has extended its
previous declaration of force majeure on loadings at the Brass River Export
Terminal due to flooding.


As a consequence of the foregoing, all Umusadege field production shipped
through the AGIP export pipeline continues to be shut-in pending AGIP's repair
of the export pipeline and the reopening of the Brass River Export Terminal.
Mart and its co-venturers will continue to monitor the situation. 


Pipeline and export facility losses for October 2012 as reported by AGIP were
56,874 bbls or approximately 17.7% of total crude deliveries (losses for
September 2012 as reported by the pipeline operator were 40,018 bbls or
approximately 11.6% of total crude deliveries). Pipeline and export facility
losses as reported by AGIP from the beginning of the year to end of October 2012
are approximately 13.6% of total crude deliveries for that period.


UMU-10 Well Update

As previously announced, the UMU-10 well encountered 479 foot gross hydrocarbon
pay in 20 sands. Six of these sands, XVIIa & XVIIb (commingled), XVIIIa, XIX,
XXb, and XXI have been perforated. Sands will be tested, and completed for
production. Any two of these zones can be produced simultaneously using dual
tubing string sliding sleeve completion technology. Operations to prepare to
flow test the six targeted sands in the UMU-10 well have been progressing and is
approximately 80% completed. The long string (3 1/2 inch) completion has been
installed, and the short string (2 7/8 inch) installation is currently underway.
The sands completed in UMU-10 will access 161 feet of the total 479 feet of
gross pay in the well.


Shell Export Pipeline

Mart and its co-venturers are continuing their negotiations with an affiliate of
Royal Dutch Shell plc. ("Shell") to complete a crude handling agreement that
will enable plans to move forward to provide a second independent export
pipeline for Umusadege field production. Mart and its co-venturers will then
gain access to Shell's export facilities and a 50-kilometer pipeline will be
constructed. The pipes have been manufactured and loaded on a ship heading for
Nigeria and expected to arrive in the third week of December 2012.


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                                                            
       Timea Carlsen                                                        
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 (1) Mart and its co-venturers will be able to obtain additional information
regarding pipeline losses; or (2) there will not be future pipeline losses and
that such losses will not be at levels greater than those referenced herein; 


In addition, there is no assurance that the drilling program for the UMU-10 well
will be successful or will successfully appraise the target sands identified by
the well. Statements (express or implied) regarding the ability of the Company
to successfully complete, test and commercially produce, transport and sell oil
from the UMU-10 well (or any one or more of the hydrocarbon sands identified by
the UMU-10 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.


No assurance can be provided on the timing of repairs to the AGIP export
pipeline, when the force majeure event on the Brass River Export Terminal will
cease or when production from the Umusadege field will re-commence. 


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Mart Resources, Inc.
London, England Office
Wade Cherwayko / Dmitri Tsvetkov
+44 207 351 7937
Wade@martresources.com
dmitri.tsvetkov@martresources.com


Investor Relations
Toll Free 1-888-875-7485

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