OilVoice - Mart Resources Announces Second Test From the Umu-5 Well, Nigeria

Mart Resources Announces Second Test From the Umu-5 Well, Nigeria

Friday, March 13, 2009

Mart Resources, Inc. 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.

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