Mart Resources announce UMU-11 well update

Mart Resources announce UMU-11 well update

3,650 barrels of oil per day (“bopd”) stabilized flow rate achieved during cleanup from the XIIb sand.
• 1,520 bopd stabilized flow rate achieved during cleanup operations from the XIIIb sand.
• One more test remains to be done on the IX sand that has been perforated and completed in the UMU-11 well.

Mart Resources, Inc. (TSX-V: MMT) (“Mart” or the “Company”) and its coventurers,Midwestern Oil and Gas Company Plc. (Operator of the Umusadege field) and SunTrust Oil Company Limited are pleased to announce initial flow rate test results for the UMU-11 well.

UMU-11 Initial Well Test Results
The UMU-11 well encountered 294 feet of gross oil pay in 13 sands. The well was intentionally drilled to a shallower depth than UMU-9 and UMU-10, therefore did not encounter the deeper sands from previous wells. The sands selected for completion in the UMU-11 well were the IX,XIIb, and XIIIb sands, with combined gross oil pay of 84 feet. Using dual tubing string technology, two of these zones can be produced separately and simultaneously. The cleanup and extended flow tests have been completed on the XIIb and XIIIb sands, with the IX sand still to be tested.

The testing of the XIIb sand yielded a stabilized rate of 3,650 bopd at 41 degree API crude oil on a 28/64 inch choke setting and flowing tubing head pressure of 500 psig. Basic sediment and water (“BS&W”) was 0.4%.

During the test of the XIIIb sand, the well flowed 43.0 degree API crude oil at a stabilized rate of 1,520 bopd on a 32/64 inch choke setting and flowing tubing head pressure of 260 psig and BS&W of 0.4%.

One UMU-11 well test remains, being the individual testing of the IX sand. All sands have been initially tested on restricted choke setting during cleanup. Following the cleanup operations,each sand will undergo multirate flow testing on various choke sizes.

Wade Cherwayko, CEO of Mart Resources, stated: “The initial flow rates from UMU-11 are some of the best we have had to date, in particular from the XIIb sand. This establishes the capability of the field to deliver additional production when the pipeline constraints are removed.”

Further updates will be provided once testing has been completed and results are available.
Mart Presenting at Africa Oil Week Conference in Cape Town Wade Cherwayko, Chairman and CEO of Mart, will be a presenter at the Africa Oil Week Conference in Cape Town, South Africa on November 25-29, 2013.

Source: www.martresources.com

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