MART RESOURCES, INC. ANNOUNCES COMMENCEMENT OF FIRST OIL PRODUCTION FROM ITS UMUSADEGE FIELD,NIGERIA
Posted on April 24, 2008 – 5:57 pm | by vchris
Mart Resources, Inc. (TSX-V: MMT) and its partners Midwestern Oil and Gas Company PLC (“Midwestern”, Operator) and Suntrust Oil Company Nigeria Limited are pleased to announce the commencement of crude oil production from the Umusadege Field, Nigeria.
First oil production has commenced at the Umusadege field from the XIIb zone of the UMU-1 well. The XIIb and XIIa zones will be flowed individually for a period of approximately 30 days. Based upon the results of previous tests (in which the XIIa and XIIb zones flowed oil at individual rates of 3,237 and 2,784 bopd respectively) it is
anticipated that the production rate during this initial production period will be in the range of 2,000 to 3,000 bopd. Following the initial production period, the partners intend
to comingle production from the two zones and this is expected to result in an increased production rate from the well.
For more information, please contact David Parker at London # +44 207 953 4090 or email: David.Parker@martresources.com, or David Halpin at Calgary # 403 270-1841 or
e-mail: David.Halpin@martresources.com. 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 that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Corporation. Mart’s actual results, performance or achievements could differ materially from those expressed in or implied by these forward-looking statements and accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits Mart will derive there from. In particular, there is no assurance that the Corporation will not encounter further delays in the commissioning of the production facilities or that production will commence at the times or at the production
levels referenced herein.
ISSUERS OF NEWS RELEASES AND NOT OILANDGASPRESS.COM ARE SOLELY RESPONSIBLE FOR THE ACCURACY OF THE CONTENT
www.oilandgaspress.com - The ‘one stop shop’ for global Oil and gas press releases!!!
Tags: ANNOUNCE, Commencement, Crude Oil, Midwestern Oil and Gas Company PLC, NIGERIA, Production, Suntrust Oil Company Nigeria Limited, Umusadege Field
You must be logged in to post a comment.