Mart Resources, Inc.: March 2013 Production Update

Mart Resources, Inc.: March 2013 Production Update 
- Umusadege field production and deliveries into the export pipeline
were shut down during all of March 2013.  
- 320,000 barrels of oil were nominated on behalf of the Umusadege
field in March 2013 with payment to be received in mid-April. 
CALGARY, ALBERTA -- (Marketwired) -- 04/15/13 -- Mart Resources, Inc.
(TSX VENTURE:MMT) ("Mart" or the "Company") and its co-venturers,
Midwestern Oil and Gas Company Plc. (Operator of the Umusadege field)
and SunTrust Oil Company Limited are providing the following update
on Umusadege field production for March 2013.  
March 2013 Production Update 
Due to an ongoing shutdown of the export pipeline that started on
February 24, 2013, there was no production from the Umusadege field
in March 2013 due mainly to maintenance and repairs on the export
pipeline performed by the pipeline operator. During March 2013 there
was a shipment of crude oil of 320,000 barrels of oil ("bbls") on
behalf of the Umusadege field based on oil nominated for delivery.
The Umusadege field's nominated and shipped oil volume was higher
than the volume of oil delivered, which leads to an "over lift"
position. Mart and its co-venturers therefore owe oil to Nigerian
Agip Oil Company ("AGIP") for the amount of oil over lifted. Mart and
its co-venturers expect to receive payment in mid-April 2013 for the
over lift of 320,000 bbls shipped in March 2013 and expect to repay
the over lift volume out of production subsequent to the reopening of
the export pipeline. 
AGIP, the pipeline operator, has advised that repairs to the export
pipeline are progressing, but that the pipeline has not yet returned
to normal operations. Mart will continue to monitor the situation and
provide updates regarding Umusadege field operations and the status
of pipeline operations as information is received from AGIP.  
Pipeline and export facility losses for February 2013 as reported by
AGIP were 42,270 bbls or approximately 25.5% of total crude
deliveries, based on the net volume of 166,000 bbls reported as
received by AGIP in February 2013. 
Mart Presenting at Oil Council Asia Assembly in Hong Kong  
Wade Cherwayko, Chairman and CEO of Mart, will be a presenter at the
Oil Council Asia Assembly in Hong Kong on April 24-25, 2013. A link 
containing the location and details of the conference will be
available on Mart's website under News & Presentations / Corporate
Presentations - www.martresources.com.  
Additional information regarding Mart is available on the Company's
website at www.martresources.com and under the Company's profile on
SEDAR at www.sedar.com. 
Except where expressly stated otherwise, all production figures set
out in this press release, including bopd, reflect gross Umusadege
field production rather than production attributable to Mart. Mart's
share of total gross production before taxes and royalties from the
Umusadege field fluctuates between 82.5% (before capital cost
recovery) and 50% (after capital cost recovery). 
Forward-Looking Statements and Risks 
Certain statements contained in this press release constitute
"forward-looking statements" as such term is used in applicable
Canadian and US securities laws. Any statements that express or
involve discussions with respect to predictions, expectations,
beliefs, plans, projections, objectives, assumptions or future events
or are not statements of historical fact and should be viewed as
"forward-looking statements". These statements relate to analyses and
other information that are based upon forecasts of future results,
estimates of amounts not yet determinable and assumptions of
management. Such forward looking statements involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements.  
In particular, there is no assurance regarding the duration of the
current AGIP pipeline maintenance and repair disruption or that that
future repairs will not be required. The current pipeline disruption
and any future disruptions will materially and adversely affect the
ability of the Company to transport, deliver and sell its crude oil
production from the Umusadege field.  
In addition, in respect of the nomination of Umusadege field oil by
AGIP, while AGIP has consistently paid for oil shipments based upon
the volume of oil nominated, there is no certainty that Mart and its
co-venturers will continue to be paid for any or all volumes of oil
nominated for delivery that is not delivered. The current lifting has
resulted in a deficit oil situation from the Company and its
co-venturers. There is also no assurance that the Company and its
co-venturers will be able to produce sufficient quantities of oil to
make up the current deficit oil that resulted from production
shutdowns, particularly if there are significant future disruptions
or shutdowns. There is also no assurance that AGIP will not
accelerate the obligation to satisfy delivery of deficit oil.  
There can be no assurance that such forward-looking statements will
prove to be accurate as actual results and future events could vary
or differ materially from those anticipated in such statements.
Accordingly, readers should no place undue reliance on
forward-looking statements contained in this news release. The
forward-looking statements contained herein are expressly qualified
by this cautionary statement. 
Forward-looking statements are made based on management's beliefs,
estimates and opinions on the date the statements are made and the
Company undertakes no obligation to update forward-looking statements
and if these beliefs, estimates and opinions or other circumstances
should change, except as required by applicable law. 
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER
(AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE)
ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE RELEASE. 
Contacts:
Mart Resources, Inc.
Wade Cherwayko
London, England office # +44 207 351 7937
Wade@martresources.com 
Mart Resources, Inc.
Dmitri Tsvetkov
London, England office # +44 207 351 7937
dmitri.tsvetkov@martresources.com 
Mart Resources, Inc.
Investor Relations
Toll Free 1-888-875-7485
www.martresources.com
 
 
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