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Mart Resources Arranges US$100 Million Secured Term Loan Facility and Umusadege Operational Update; Shares Up 2.4%

Mart Resources, Inc. (MMT.V) has arranged a new loan facility, and with its co-venturers, Midwestern Oil and Gas Company Plc. (Operator of the Umusadege field) and SunTrust Oil Company Limited provide the following update on Umusadege field operations.

Arrangement of US $100 million Secured Term Loan Facility

Mart, through its wholly-owned Nigerian subsidiary, has arranged a US$100 million secured term loan facility with Guaranty Trust Bank PLC with the intent to finance capital expenditures required for further field development activities and Mart's ongoing working capital requirements. The secured loan facility has a term of five years and bears interest at 90 days LIBOR plus 4% (floor of 8.25%).

March 2013 Production Update

Umusadege field production continues to be shut down due to maintenance being performed on the export pipeline by the pipeline operator. The pipeline operator has advised that the maintenance operations are nearing completion, but no exact date can be given as to when repairs will be completed and production can re-commence.

Common share dividend

Mart also confirmed that a quarterly dividend of $0.05 per common share will be paid on April 9, 2013 to shareholders of record at the close of business on March 22, 2013. The ex-dividend date was March 20, 2013.

Mart is now trading at $1.71.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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