Last C$0.60 CAD
Change Today 0.00 / 0.00%
Volume 2.9M
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mart resources inc (MMT) Snapshot

Open
C$0.61
Previous Close
C$0.60
Day High
C$0.61
Day Low
C$0.59
52 Week High
06/17/14 - C$1.80
52 Week Low
12/16/14 - C$0.45
Market Cap
214.2M
Average Volume 10 Days
4.3M
EPS TTM
C$0.10
Shares Outstanding
356.9M
EX-Date
03/27/15
P/E TM
4.6x
Dividend
--
Dividend Yield
12.50%
Current Stock Chart for MART RESOURCES INC (MMT)

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mart resources inc (MMT) Details

Mart Resources, Inc., an international upstream oil and gas company, is engaged in the exploration, development, and production of oil and gas in the Federal Republic of Nigeria. The company principally holds interest in the Umusadege oil field covering an area of approximately 3,771 gross acres located on-shore in Nigeria. Mart Resources, Inc. was incorporated in 1994 and is headquartered in Calgary, Canada.

30 Employees
Last Reported Date: 04/9/14
Founded in 1994

mart resources inc (MMT) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: C$703.4K
Chief Financial Officer and Director
Total Annual Compensation: C$483.4K
Managing Director of Nigerian
Total Annual Compensation: C$432.6K
Managing Director of NRG Drilling Nigeria Ltd
Total Annual Compensation: C$229.5K
Compensation as of Fiscal Year 2013.

mart resources inc (MMT) Key Developments

Mart Resources, Inc. Announces Initial Flow Test Results for the UMU-13 Well at Umusadege Field, Nigeria

Mart Resources Inc. announced initial flow test rate results for the UMU-13 well at the Umusadege field in Nigeria. The UMU-13 well encountered approximately 220 feet of gross oil pay in 11 sands. The UMU-13 well is a vertical well drilled to appraise a separate seismically-defined structure located east of the existing and producing Umusadege field. The sands selected for completion in the UMU-13 well were the XVIIb, XIX, and XXb sands, which have combined gross oil pay of 87 feet. During initial flow testing, each of the three sands was tested at multiple choke settings ranging from 16/64 inch up to 40/64 inch. In all tests, no sand production or water production was observed. The initial flow testing of the XVIIb sand was conducted over a 5.5 hour period and yielded a stabilized oil rate of 4,447 bopd of 49 API crude oil on a 40/64 inch choke setting and flowing tubing head pressure of 568 psig. Basic sediment and water ("BS&W") was less than 0.5%, and the gas-oil ratio ('GOR') was 53 standard cubic feet per barrel ('scf/bbl'). The initial flow testing of the XIX sand was conducted over an 8.5 hour period and yielded a stabilized oil rate of 5,120 bopd of 50 API crude oil on a 40/64 inch choke setting and flowing tubing head pressure of 1,183 psig. BS&W was less than 0.5%, and GOR was 577 scf/bbl. The initial flow testing of the XXb sand was conducted over an 8 hour period and yielded a stabilized oil rate of 3,742 bopd of 44.8 API crude oil on a 40/64 inch choke setting and flowing tubing head pressure of 1,268 psig. BS&W was less than 0.5%, and GOR was 1,268 scf/bbl.

Mart Resources Inc. Reports Production Results for the Month of November 2014

Mart Resources Inc. reported production results for the month of November 2014. For the period, the company reported umusadege field production averaged 10,194 bopd. Aggregate Umusadege field downtime during November 2014 was approximately 5.5 days due to a combination of shutdowns of the NAOC export pipeline resulting from operational interruptions including general pipeline repairs and maintenance and activities connected to the testing of the Umugini pipeline that required periodic interruptions to production and injection of crude oil into the NAOC export pipeline. There was one full down day during the month. The average field production based on producing days was 12,554 bopd in November 2014.

Mart Resources, Inc., Midwestern Oil and Gas Company Plc. and SunTrust Oil Company Limited Announces That Update on the UMU13 Well At the Umusadege Field in Nigeria

Mart Resources Inc. and its co-venturers, Midwestern Oil and Gas Company Plc. and SunTrust Oil Company Limited announced that update on the UMU-13 at the Umusadege field in Nigeria. The UMU-13 well has reached a final total drilling depth of 9,300 feet. UMU-13 is a vertical appraisal well with exploration prospects drilled on a seismically defined structure located east of the existing and producing Umusadege field. Preliminary evaluations based on well logging, pressures, and drilling data indicate that the UMU-13 well encountered approximately 220 feet of gross pay in 11 sands. The sands encountered by the UMU-13 well are consistent with the indings of UMU-9 well, which was previously drilled west of the UMU-13 well on the main structure of the Umusadege field. The preliminary evaluations indicate nine light oil sands and wo gas/condensate sands with total gross pay of 162 feet and 58 feet respectively. Down-hole luid samples have been taken and laboratory results are pending. The down-hole fluid samples will be used to confirm hydrocarbon type and will provide critical information for reservoir management and future field development planning. The primary testing and completion targets for the UMU-13 well will be finalized upon receiving he down-hole fluid sample results. The completion program and production testing operations on the UMU-13 well will continue through December 2014.

 

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MMT

Industry Average

Valuation MMT Industry Range
Price/Earnings 6.1x
Price/Sales 0.9x
Price/Book 2.0x
Price/Cash Flow 2.3x
TEV/Sales NM Not Meaningful
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