Mart Resources, Inc. and its co-venturers, Midwestern Oil and Gas Company Limited (Operator of the Umusadege field) and SunTrust Oil Company Limited are providing the following updates on Umusadege field production for January 2015 and other operations.
January 2015 Aggregate Production Update
Umusadege field production during January 2015 averaged approximately 17,050 bopd resulting in total production of approximately 528,560 bbls for the month. Aggregate calculated Umusadege field downtime during January 2015 was approximately 1.8 days (based upon days with production of more than 10,000 bopd being considered to have no downtime).
Although shutdowns of both the NAOC and Trans Forcados export pipelines were experienced during January 2015 due to operational interruptions for general pipeline repairs and maintenance and due to vandalism, ongoing production from the Umusadege field was minimally affected due of the ability of the field operator to alternate production between the two pipelines. There were no full down days during January. The average field production based on producing days was approximately 18,070 bopd in January 2015.