Mart Resources, Inc.

Mart Resources, Inc.

March 13, 2009 09:08 ET

Mart Resources Announces Second Test From the UMU-5 Well

CALGARY, ALBERTA--(Marketwire - March 13, 2009) - Mart Resources, Inc. (TSX VENTURE:MMT) and its partners, Midwestern Oil and Gas Company PLC (Operator) and SunTrust Oil Company Nigeria Limited, are pleased to report positive initial results from the second production test on the UMU-5 well located at the Umusadege field in the Niger Delta of Nigeria.

A second test on the UMU-5 well was conducted on the VII oil zone, at a depth of 7,255 feet, for a duration of 18 hours. During the test, the well flowed at rates up to 725 barrels per day of 30 API gravity oil through 2 7/8 inch tubing on a 16/64" choke at a flowing tubing pressure of 388 PSI. Basic Sediment and Water production was 2.5% consisting of drilling mud and completion fluid. The test was curtailed due to concerns over sand production, which is a common feature of shallow reservoirs in the Niger Delta and routinely controlled by the installation of downhole gravel packs and sand screens that hold the sand back in the reservoir.

As previously announced, the first test on the UMU-5 well was conducted on the IX oil zone, at a depth of 7,595 feet, for a duration of 17 hours. During the test, the well flowed at stabilized rates up to 3,200 barrels per day of 48 API gravity oil through 2 7/8 inch tubing on a 32/64" choke at a flowing tubing pressure of 625 PSI. Water production was less than 0.2% and the gas/oil ratio was approximately 80 standard cubic feet per barrel. The combined flow rate for the UMU-5 from the VII and IX zones was 3925 barrels oil per day.

The UMU-5 well has been tied into the Umusadege production and export facilities and the partners plan to commence commercial production from the IX zone immediately following analysis of the crude oil samples and receipt of all requisite approvals, which are currently anticipated by the end of March 2009.

About Mart Resources:

Mart Resources Inc. is an independent, international petroleum company focused on drilling, developing and producing oil and gas from low-risk proven petroleum properties in Africa. The Company owns two drilling rigs, has strong local relationships and has formed joint venture partnerships with indigenous operators in Nigeria. Mart has acquired interests in and begun development of three onshore Nigerian oil fields. Mart's first oil production commenced in April 2008 from the Umusadege field.

Certain statements in this News Release constitute forward-looking statements under applicable securities legislation. 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. Forward-looking statements in this new release include but are not limited to references, whether actual or implied, to future production levels from the Umu-5 well and the ability of the Company to commercially produce the well. By its very nature, such forward-looking information requires the Company to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information. In particular, there is no assurance that UMU-5 well will be commercially producible or that the future production levels therefrom will be at the tested production rates. If commercial production is achieved, there is no assurance it will be achieved within the express or implied timeframes set forth herein. All references to production levels contained in this press release are to total field production rates at the wellhead and are before the deduction of interests to third parties.

Furthermore, the forward-looking information contained in this news release is made as of the date of this news release and, except as required by applicable law, Mart Resources, Inc. does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.

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