MMT.. bought more this morning........
Mart's UMU-7 well reaches total depth
2011-03-15 07:33 MT - News Release
Mr. Wade Cherwayko reports
MART RESOURCES INC.: UMU-7 WELL REACHES TOTAL DEPTH AND IDENTIFIES 380 FEET OF OIL PAY
Mart Resources Inc. and its co-venturers, Midwestern Oil and Gas Company PLC (operator of the Umusadege field) and Suntrust Oil Ltd., have provided an update on the UMU-7 well in the Umusadege field.
The UMU-7 well reached a final total drilling depth of 8,715 feet on March 11, 2011. Open-hole wire line logs have been run with results indicating a total of 15 hydrocarbon reservoirs. The well logs also indicate a cumulative gross pay of approximately 380 feet in the 15 sands identified in the UMU-7 well.
All of the UMU-7 well's primary objectives, including the VIII, XIIc, XIV and XVI sands, were hydrocarbon bearing with results indicating gross oil pay of 26 feet, 17 feet, 42 feet and 10 feet, respectively.
Production casing of 9-5/8 inches has successfully been run and cemented. The next phase of operations will include perforating and the installation of completion equipment consisting of a dual-tubing string (3-1/2-inch and 2-7/8-inch) configuration allowing for multizone testing and future production. After the completion equipment is installed, testing on individual sands will be conducted.
Chairman's comment
Wade Cherwayko, chairman and chief executive officer of Mart Resources, said, "The drilling success of the UMU-7 well confirms the additional development potential in the Umusadege field and is expected to contribute to increased total production in the field."
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