Mart Resources, Inc.
TSX VENTURE : MMT

Mart Resources, Inc.

June 08, 2005 09:05 ET

Mart Reports Oil Flow from Test of the Eremor#1 Well in Nigeria

CALGARY, ALBERTA--(CCNMatthews - June 8, 2005) -

Not for distribution to United States newswire services or for dissemination in the United States.

Mart Resources, Inc. (TSX VENTURE:MMT) and its partner Excel E&P Ltd. reported today that a production test of the Eremor #1 well located in Nigeria's Niger Delta flowed oil at a rate of 940 barrels of oil per day with no water. The test indicated a low gas/oil ratio with medium gravity oil. Production testing flow rates were restricted at surface due to traces of sand production during the well test.

The test results fully confirm Mart's technical evaluation of the field and the viability of developing the field with two or three horizontal production wells, one of which will be drilled as a side-track from the existing Eremor-1 well. During field development, the wells will be completed with gravel pack and sand screen to prevent any potential sand production problems. According to Mart's independent consultants, Horizon Energy Partners of Holland, extrapolation of the test data from the vertical Eremor-1 well indicates that each horizontal well should produce 2,000 to 3,000 barrels of oil per day. Mart anticipates commencing field development operations in Q4 2005, and is currently negotiating drilling rig contracts.

This successful test of the Eremor-1 well places Mart and its partner Excel at the forefront in the development of oil fields under the Nigerian Marginal Field Program. It is also an exciting milestone in the Mart's program that is anticipated to establish significant oil production and an important oil reserve base for the Company in Nigeria's Niger Delta.

Mart is an independent international energy company focused on developing oil, gas and power projects in West Africa.

Certain statements in this News Release constitute forward-looking statements. Such forward-looking statements involve 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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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