Mart Resources, Inc.
TSX VENTURE : MMT

Mart Resources, Inc.

December 07, 2006 09:18 ET

Mart Resources, Inc. Announces Umusadege Drilling Update

CALGARY, ALBERTA--(CCNMatthews - Dec. 7, 2006) - Mart Resources, Inc. (TSX VENTURE:MMT) and its partners Midwestern Oil and Gas Company PLC and Suntrust Oil Company Nigeria Limited are pleased to announce the commencement of drilling operations in the Umusadege oil field in Nigeria. NRG Drilling Limited's Rig 101 has been moved on location at the first site to be drilled in Umusadege, and the UMU-4 well is slated to spud within the week.

A second development well (UMU-5) will be drilled at Umusadege using Rig 101 after UMU-4 has been completed and production tested. The partnership intends to drill a third step-out well in the field later in 2007.

The Umusadege oil field, located in the central Niger Delta, was awarded to Mart's partner companies (Midwestern 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 tested, flowed 2,654 barrels of oil per day.

Mart owns a majority interest in NRG Drilling Limited.

Additional information regarding Mart Resources, Inc. is available on the company's website at www.martresources.com.

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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