Mart Resources, Inc.

Mart Resources, Inc.

March 14, 2005 10:12 ET

Mart Resources Updates Activity in Nigeria


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: MART RESOURCES, INC.

TSX VENTURE SYMBOL: MMT

MARCH 14, 2005 - 10:12 ET

Mart Resources Updates Activity in Nigeria

CALGARY, ALBERTA--(CCNMatthews - March 14, 2005) - Mart Resources, Inc.
(TSX VENTURE:MMT) and its Nigerian partner, Excel Exploration &
Production Company, would like to update activity at the Eremor oil
field in Nigeria. The Eremor oil field, located in Nigeria's Niger Delta
region, was awarded to Excel under the Nigerian government's Marginal
Field Allocation Program. Mart has entered into a Finance and Service
Agreement with Excel to participate in the development of the field.

The Eremor oil field was discovered in 1978 by the Eremor #1 well, which
encountered a thick sandstone reservoir at a depth of 5744 feet. Mart
and Excel intend to re-enter and production test the cased Eremor #1
well.

Operations for the preparation of the Eremor #1 well site are presently
underway. Once the well site preparation is completed, a service rig
will be mobilised and re-entry operations on the well will commence. The
field is in close proximity to existing pipelines and production
facilities. After the re-entry and testing of the Eremor #1 well,
development drilling and production facility installation will commence
as soon as possible.

In addition to the Eremor field, Mart is in advanced negotiations to
acquire additional undeveloped fields in Nigeria that have significant
hydrocarbon potential.

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

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Mart Resources, Inc.
    Wade G. Cherwayko
    President
    +44 7785 298 466
    Email: info@martresources.com
    The TSX Venture Exchange has not and does not accept responsibility for
    the adequacy or accuracy of this release.