Mart Resources, Inc. and its co-venturers, Midwestern Oil and Gas Company Plc. ("Midwestern", Operator of the Umusadege field) and SunTrust Oil Company Limited are providing the following updates on Umusadege field production for May 2014 and other operations.
May 2014 Production Update
Umusadege field production during May 2014 averaged 10,237 bopd. Aggregate Umusadege field downtime during May 2014 was approximately 6.0 days due mainly to a shutdown of the Nigerian Agip Oil Company Limited ("NAOC") export pipeline resulting from a lack of storage capacity at the Brass River export terminal due to export shipment delays, combined with other minor operational interruptions. There were no full down days during the month. The average field production based on producing days was 12,654 bopd in April 2014.