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As previously announced, the first extended flow rate test was conducted on the XXI sand, the deepest of the sands to be tested, at a stabilized rate of 1,943 bopd during initial well testing. During the test of the XXI sand, the well flowed 55.3 API gravity oil through 3 1/2 inch tubing on a 28/64 inch choke at a flowing tubing pressure of 1,260 psi. BS&W was 5% with a gas/oil ratio of approximately 588 standard cubic feet per barrel.

The Operator plans to return to the UMU-10 well after drilling the UMU-11 well to carry out the remaining testing operations on sands XXb and XIX in the long string. Using a coiled tubing unit, the multirate flow testing will then be performed on all sands completed in the long string: XIX, XXb, and XXI.

Umusadege Field Development Activity Update

Field development is continuing with the UMU-11 well, to be drilled from the same surface location as UMU-9 and UMU-10. The rig has been skidded to the last drill slot on the existing drill pad and the rig is being set up and upgraded to prepare for the UMU-11 well. The well is expected to spud during March 2013. The oil reservoirs expected to be completed in the UMU-11 well are the XIIb, XIIc, XVIa, and XVIb sands, which had a combined 79 feet of oil pay in UMU-10.

During 2013, horizontal wells are anticipated to be drilled to develop the shallow oil reservoirs in the main accumulation. Sourcing of a second rig has begun, which, if successful, will perform the horizontal drilling activities. Once a second rig has been leased and mobilized, horizontal drilling is anticipated to begin with the horizontal sidetrack wells from the existing UMU-3 and UMU-4 vertical wellbores.

The new Central Production Facility is expected to be commissioned during March 2013. This facility has been designed to handle the full field capacity anticipated from the existing reserves, as well as the potential for prospective resources in the field.

March 2013 Production Update

Umusadege field production has been down the first 11 days of March 2013 due to maintenance being performed on the export pipeline by the pipeline operator. The pipeline operator has advised that the pipeline will be operational at the beginning of next week.

Umugini Pipeline and Shell Export Pipeline

Mart and its co-venturers are proceeding with plans to provide a second independent export pipeline for Umusadege field production. The construction contract for the Umugini pipeline has been awarded, and more than 90% of the pipe has arrived by truck to the Umusadege site. It is anticipated that ditching operations will commence shortly. The pipeline contractor will begin working from two locations: one near the Umusadege field and one near the midpoint between Umusadege and the Shell Export station. The Umugini pipeline will connect the Umusadege field to the Shell Export pipeline. The Shell export pipeline will deliver Umusadege crude to the Shell Forcados terminal. Negotiations regarding the crude handling agreement with the export pipeline and terminal operators are nearing completion.

Wade Cherwayko, Chairman & CEO of Mart Resources stated: "Mart and its partners are very pleased with the initial clean up and flow test results from the first three zones of the UMU-10 well. We look forward to receiving results from the remaining flow tests, and are making preparations to begin drilling UMU-11."

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.