Mart Resources: UMU-9 well update - initial flow test results

Thursday, March 15, 2012
  • 4,240 barrels of oil per day ("bopd") stabilized flow rate achieved from the XIV sand.
  • Four more zones perforated and completed in UMU-9 still to be tested.

Mart Resources (TSX VENTURE:MMT) and its co-venturers, Midwestern Oil and Gas Company Plc. (Operator of the Umusadege field) and SunTrust Oil Company Limited are pleased to announce the initial flow rate test results for the UMU-9 well and an update on February 2012 Umusadege field production.

UMU-9 Well Test Results

As previously announced, the UMU-9 well encountered gross hydrocarbon pay of 430 feet from nineteen oil sands and one gas sand. Five of the UMU-9 sands have now been perforated and completed. The first extended flow test has been conducted on the 46-foot thick XIV sand at a stabilized rate of 4,240 bopd.

During the test of the XIV sand, the well flowed 43.3 API gravity oil through 3 1/2 inch tubing on a 32/64 inch choke at a flowing tubing pressure of 480 psi. Basic sediment and water (BS&W) was 0.2 % with a gas/oil ratio of approximately 90 standard cubic feet per barrel.

Three UMU-9 well tests remain including the co-mingled testing of the XIIIa and XIIIb sands via the 3 1/2 inch tubing, followed by individual testing of the XIIa and X sands via the 2 7/8 inch tubing.

Further updates will be provided on these remaining targeted sands once testing has been completed and results are available.

February 2012 Production Update

Umusadege field production based on producing days during the month of February averaged 11,229 bopd. Umusadege field downtime during the month was approximately 6.5 days, primarily due to technical problems at third party export pipeline facilities. The average oil delivered to export storage tanks averaged 8,728 bopd.

Wade Cherwayko, CEO of Mart Resources stated: "Mart and its partners are pleased and encouraged with the initial flow test results from the UMU-9 well which demonstrate that the exceptional reservoir and oil quality of the Umusadege field extend further than the area previously assigned, and we are looking forward to receiving results from testing the remaining perforated sands in the coming weeks."

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

Related News

Join 70,000 other oil and gas professionals

Network with others, build your profile, and receive the latest oil and gas news in your inbox. It's free!

Your details are never shared or sold. We hate spam too.

» More Jobs       » Upload a free Job       » Upload your CV

More Europe Jobs

More Global Jobs

Opinion & Commentary

  • Rosneft and Gazprom break into Brazil
    During the third quarter of 2014, both Rosneft and Gazprom have made notable advances into the Brazilian oil and gas sector. As of mid-July 2014, the Brazilian Na ...
  • For a few trillion barrels more
    Today, Scotland will vote on the following question: Should Scotland be an independent country? Answer YES and the vote is for independence, answer NO and the vote i ...

» More Opinion & Commentary         » Write for us             RSS RSS

Opinions & Commentary

The Importance of Public Image to the Petroleum Industry

by Angus Warren

Read More »