Mart Resources, Inc.

Mart Resources, Inc.

December 20, 2006 09:00 ET

Mart Resources, Inc. Announces Spudding of UMU-4 Well in Nigeria

CALGARY, ALBERTA--(CCNMatthews - Dec. 20, 2006) - Mart Resources, Inc. (TSX VENTURE:MMT) and its partners Midwestern Oil and Gas Company PLC, operator of the Umusadege oil field, and Suntrust Oil Company Nigeria Limited are pleased to announce that UMU-4 well has spudded today in the Umusadege oil field in Nigeria.

A second development well (UMU-5) will be drilled at Umusadege after UMU-4 has been completed and production tested. The Parties also intend to drill a third step-out well in the second half of 2007.

As previously announced the Umusadege oil field is located in the central Niger Delta and was awarded to Midwestern as operator and Suntrust under the Nigerian Government's Marginal Field Allocation Program. Three wells were drilled and cased in the field between 1974 and 1980. The N2 well, which was the only well production tested, flowed at a combined rate of 2,654 barrels of oil per day.

The Umusadege wells are being drilled by Mart's majority owned NRG Drilling Rig 101.

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. In particular, there is no assurance that any future closings of the private placement will occur within the time frames indicated or at all.

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

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