www.martresources.com MART RESOURCES: Annual General Meeting Mr. Wade Cherwayko (Chairman & CEO) Calgary, June 20, 2014
MART Overview Mart is an independent international oil & gas company focused on production and development opportunities in the prolific Niger Delta region of Nigeria. Mart is publicly traded on the Toronto TSX Exchange (MMT) with…
2013: Highlights Reserves reported at December 31, 2013 16.9 MMbbls proved and probable Quarterly dividends of 0.05 per share were paid in April 2013, July 2013, October 2013, January 2014 and April 2014. Total amount paid in 2013 -…
Nigeria Overview Nigeria has the largest oil & gas reserve base in Sub- Saharan Africa with an estimated 30+ Billion bbls of oil and 180 Tcf of Gas Nigerian oil production averages 2 million bbls per day with government initiatives…
Nigerias Marginal Field Program Initiated in 2001 to fuel the growth of Independent Nigerian E&P companies (over 130 fields identified for the program) 24 marginal fields allocated to indigenous companies in 2003 What is a…
Umusadege Field History Development drilling to increase production to 12,000 bopd 2012-2014 1974 2003 2008 Umusadeges Significant Oil Reserves 2008-2011 First Commercial Oil Production Field Expansion of Central…
Umusadege Field Development and Prospective Resources Existing Development Future Exploration UMU-3 UMU-4 UMU-1 Marts Work UMU-5 Program Outlook UMU-6,7,8 Exploration in West & UMU-9,10, 11 East Horizontal…
Umusadege Exploration Prospectivity in Umusadege Exploration Drilling UMU-West Up to 33 stacked sands 4-way dip closure, potential for West larger structure with fault seal (3 way dip closure) UMU-East Hydrocarbon expected to…
AGIP Export Umusadege Field Production Profile Pipeline Disruptions Daily field production 16,000 record of 16,567 bbls UMU-10 Producing Days on 16 February 2014 UMU-9 14,000 Calendar Days UMU-8 Capacity constraint AGIP…
Completion Strategy Multizone testing 4+ zones per well completed www.martresources.com Mart Annual General Meeting - June 2014
Ongoing Development Deviated drilling from pads Horizontal development www.martresources.com Mart Annual General Meeting - June 2014
Field Location & Export Infrastructure Umusadege Pipeline capacity Field Trans Forcados 13,500 bbl/day capacity Export Pipeline available now through AGIP pipeline Forcados Umugini pipeline: Terminal 12 x 51.4km, gross…
Umugini Pipeline Construction Nearing completion First 49km completed with final 2km being welded, coated and tested Materials procurement for pumping, monitoring and control facilities has been finalized Commissioning…
Umugini Pipeline Construction www.martresources.com Mart Annual General Meeting - June 2014
Umugini Pipeline Construction www.martresources.com Mart Annual General Meeting - June 2014
Field Production Facilities Brand new Central Production Facility with 35,000 bpd capacity Commissioned at the beginning of July 2013 Gas utilization for power generation www.martresources.com Mart Annual General Meeting -…
CPF Construction Complete www.martresources.com Mart Annual General Meeting - June 2014
Umusadege Work Program 2014 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Field Development Water Disposal Well UMU-8 Re-entry Development Wells (incl Horizontal Drilling) Umugini Pipeline * Exploration Drilling East and West…
2013 Financial Results Summary USD million 2013 2012 Change Petroleum sales (1) 136.0 161.4 -15.7% Funds flow from production operations (2) 98.0 137.7 -28.8% Net income 35.5 58.0 -38.8% Basic earnings per share…
2013 Production Operations USD million 2013 2012 USD million 2013 2012 Marts share of oil produced and sold net of pipeline and 1,459,823 1,844,389 facility losses (bbls) Marts share of oil produced and sold net of pipeline and…
Net back per bbl 2013 2012 US US Sales 110.62 103.43 Royalties and NDDC (17.43) (15.92) Net sales 93.19 87.51 Production costs (26.07) (12.82) Operating net back per bbl 67.12 74.68 Tax benefit contribution (2.32) (5.72) General…
2013 Summary of Oil and Gas Reserves (1) Gross reserves means Marts working interest share of total field reserves before deducting reserves attributable to government and third party royalties and taxes or the equivalent. (2) Net…
Net Present Value discounted at 10% Before tax After tax Umusadege Umusadege million USD million USD (1)(2) (1)(2) Proved Reserves Developed Producing 207 146 Developed Non-Producing 136 79 Undeveloped 140 75 TOTAL PROVED 484…
Umusadege Reserves Growth (Net, Mart Share) 40 Cumulative Production Possible Reserves 35 Proved & Probable growth : 30 Ongoing field 6.5 appraisal Mart Share of Umusadege Net Reserves (MMbbl) 25 Exploration wells 6.0…
Marts Growth Story PIPELINE DISTRUPTIONS 2.50 Umusadege field DIVIDEND POLICY development ANNOUNCED PRODUCTION 2.00 delivering RESUMED APRIL 17, 2013 shareholder UMU-9 DISCOVERY growth : CONFIRMS EASTERN EXTENSION TO…
Supporting local content & partnerships Government initiatives Socially responsible investment to attract investment Community development Indigenous allocations programmes in the 1990s Ogbeani Health Centre Staff Marginal field…
Marts Near-Term Value Drivers Continued success in the Umusadege field exploration & development Reserves & Production growth by development drilling (2013 & ongoing) Production & Export capacity expansion (2013-2014) with…
www.martresources.com CONTACT DETAILS : Calgary Office 310, 1167 Kensington Cres. NW Mr. Wade Cherwayko (CEO & Chairman) E: wade.cherwaykomartresources.com Calgary, Alberta T2N 1X7 Mr. Dmitri Tsvetkov (CFO) E:…
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