Mart Resources Touches Fresh Year High As Announces Increase to Export Production Capacity for Umusadege Field
Mart Resources, Inc. (MMT.V) has hit a new year high today of 94 cents after announcing an increase to export pipeline capacity and a production update for the Umusadege field.
The company said an agreement has been reached with Nigerian Agip Oil Company to increase the combined export capacity for the Umusadege field and other fields in the area by 10,000 barrels of oil per day, bringing the total export capacity from its current level of 11,000 bopd to 21,000 bopd.
MMT shares are now higher by 7% at 91 cents compared to yesterday's 85 cents close. More than 2.3 million shares have already traded.
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