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 March 2015 and other operations.
March 2015 Aggregate Production Update
Umusadege field production during March 2015 averaged approximately 19,000 bopd resulting in total production of approximately 588,860 bbls for the month. Aggregate calculated Umusadege field downtime during March 2015 was zero 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 March 2015 due to operational interruptions for general pipeline repairs and maintenance, ongoing production from the Umusadege field was minimally affected due to the ability of the field operator to alternate production between the two pipelines. The average field production based on producing days was approximately 19,000 bopd in March 2015.