Mart Resources, Inc.
TSX VENTURE : MMT

Mart Resources, Inc.

June 26, 2008 09:03 ET

Mart Resources Announces First Export & Sale of Crude Oil and Operational Update for Umusadege Field

CALGARY, ALBERTA--(Marketwire - June 26, 2008) - Mart Resources, Inc. ("Mart") (TSX VENTURE:MMT) and its partners Midwestern Oil and Gas Company PLC (Operator) and Suntrust Oil Company Nigeria Limited are pleased to announce their first crude oil export from the Umusadege field, located onshore Nigeria.

The first cargo of crude oil from the Umusadege field consisting of approximately 92,000 barrels of oil is currently loading into a tanker for export and sale. Mart and its partners have produced a total of approximately 120,000 barrels of oil from the UMU-1 well since the commencement of production in April 2008. The pricing for the first crude export sale will be based on the average price for Brass River Blend for the month of June, the average price to date for Brass River Blend is approximately $135 per barrel. The second crude oil export is scheduled for mid July 2008.

Mart's drilling rig NRG-101 is currently preparing to commence drilling operations at the UMU-5 "twin well" location adjacent to the UMU-1 well. The objective of the well is to test and produce additional upper zones identified by the UMU-1 well in the Umusadege field. Mart and its partners are preparing to tie in the UMU-3 well for production, which was tested in November 2007.

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 has not reviewed and does not accept responsibility for the adequacy or accuracy of the release.

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