Mart Resources, Inc. and its co-venturers, Midwestern Oil and Gas Company Plc. and SunTrust Oil Company Limited are pleased to provide an operational update on the Umusadege field, onshore Nigeria.
UMU-9 Well Update:
The UMU-9 well commenced drilling operations on November 18, 2011 and is currently at a depth of 4,015 feet in the 16 inch upper hole section. The next activity will include running and cementing 13 3/8 inch casing in the upper hole section. Drilling will then continue in the intermediate section with a 12 1/4 inch hole to approximately 8,300 feet, followed by running 9 5/8 inch casing. The bottom hole deviated section will then be drilled with a 8 1/2 inch hole to total measured depth of approximately 11,000 feet.
Main objectives for UMU-9 are:
- To appraise the extension of the shallower reservoirs discovered and producing in the main culmination of the UMU-1, -5, -6, -7 and -8 wells. These sands will be intersected in the drilling of the vertical section of the well, which will then be cased prior to drilling ahead to the deeper targets.
- To deviate and explore the deeper untested targets while running a measurement while drilling tool followed by a logging while drilling tool to evaluate the potential
hydrocarbon bearing zones.
November Production Update:
Field oil injection into the export pipeline was approximately 9,053 barrels of oil per day during the period between November 1, 2011 and November 15, 2011. The Umusadege field experienced no production downtime over this period.
Negotiations with Agip, the Nigeria operator of the export pipeline, to increase export capacity for the Umusadege field have been ongoing and are believed to be nearing conclusion.
This article is for information and discussion purposes only and does not form a recommendation
to invest or otherwise. The value of an investment may fall. The investments referred to in this
article may not be suitable for all investors, and if in doubt, an investor should seek advice from
a qualified investment adviser. More