Mr. Wade Cherwayko (Chairman & CEO) Oil Council Asia-Pacific O&G Assembly Hong Kong, 8 May 2014 www.martresources.com
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 Dividend policy announced to pay quarterly dividends of 0.05 per common share. Total amount paid in 2013 - 70 million UMU-10 well drilled to…
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) What is a 24 marginal fields allocated to indigenous companies in 2003 Marginal…
Umusadege Field History Development drilling to increase production to 12,000 bopd Marginal field award 2012-2014 1974 2003 2008 Umusadeges Significant Oil Reserves 2008-2011 First Commercial Oil Production…
Umusadege Field Development and Prospective Resources Existing Development Future Exploration UMU-3 UMU-4 UMU-1 UMU-5 Marts Work UMU-6,7,8 Program Outlook UMU-9,10 Exploration in West & East Horizontal Future…
Umusadege Exploration Prospectivity in Umusadege Exploration Drilling UMU-West Up to 33 stacked sands 4-way dip closure, potential for larger structure with fault seal West (3 way dip closure) UMU-East Hydrocarbon…
Completion Strategy Multizone testing 4+ zones per well completed www.martresources.com Oil Council Asia-Pacific O&G Assembly, 8 May 2014 : 10
Ongoing Development Deviated drilling from pads Horizontal development www.martresources.com Oil Council Asia-Pacific O&G Assembly, 8 May 2014 : 11
Umusadege Field Production Profile AGIP Export Pipeline Disruptions Daily field production 16,000 record of 16,567 bbls Producing Days UMU-9 UMU-10 on 16 February 2014 UMU-8 14,000 Calendar Days Capacity constraint AGIP…
Pipeline capacity Field Location & Export infrastructure 13,500 bbl/day capacity available now through Umusadege AGIP pipeline increasing Field to 18,000 bbl/day after Trans Forcados Export Pipeline modifications are made in and…
Umugini Pipeline Construction www.martresources.com Oil Council Asia-Pacific O&G Assembly, 8 May 2014 : 14
Field Production Facilities New Central Production Facility with 35,000 bpd capacity Commissioned at the beginning of July 2013 Gas utilization for power generation www.martresources.com Oil Council Asia-Pacific O&G…
Umusadege Work Program 2014 www.martresources.com Oil Council Asia-Pacific O&G Assembly, 8 May 2014 : 16
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 Marts share of oil produced and sold net of pipeline and 1,459,823 1,844,389 facility losses (bbls) Marts share of average daily oil produced and sold based on calendar days…
2013 Summary of Oil and Gas Reserves Light and Medium Oil December 31, 2013 December 31, 2012 Reserves Category Gross(1) Net(2) GROSS(1) Net(2) (Mbbl) (Mbbl) (Mbbl) (Mbbl) PROVED Developed Producing 4,272 4,028 4,622 4,341…
Net Present Value discounted at 10% Before tax After tax Umusadege Umusadege million USD (1)(2) million USD (1)(2) Proved Reserves Developed Producing 207 146 Developed NonProducing 136 79 Undeveloped 140 75…
Umusadege Reserves Growth (Net, Mart Share) 40 Cumulative Production Possible Reserves 35 Proved & Probable growth : Mart Share of Umusadege 30 Ongoing field Net Reserves (MMbbl) 6.5 appraisal 25 Exploration wells…
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…
Calgary Office 310, 1167 Kensington Cres. NW Calgary, Alberta T2N 1X7 Tel: (403) 270-1841 Fax: (403) 521-0443 Mart Energy Services Plot 1717, Mike Adenuga Close Victoria Island, Lagos, Nigeria Tel: +234 (01) 271…
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