Mart Announces Financial and Operating Results for the Six Months Ended June 30, 2013

Mart Resources, Inc. (TSX VENTURE:MMT) ("Mart" or the "Company") is pleased to
announce its financial and operating results (all amounts in United States
dollars unless noted) for the three and six months ended June 30, 2013 ("Q2
2013"):


THREE MONTHS ENDED JUNE 30, 2013



--  Mart's share of average daily oil produced and sold for the three months
    ended 30 June 2013 ("Q2 2013") from the Umusadege field was 5,070
    barrels of oil per day ("bopd") compared to 4,491 bopd for the three
    months ended June 30, 2012 ("Q2 2012"). 

--  On June 26, 2013 Mart declared a quarterly dividend of Canadian dollars
    ("CAD") $0.05 per common share. The quarterly dividend was paid on July
    18, 2013 for an aggregate amount of $17.0 million (CAD $17.8 million). 

--  Net income for Q2 2013 was $19.1 million ($0.054 per share) compared to
    net income of $2.4 million ($0.007 per share) for Q2 2012. 

--  Funds flow from production operations was $31.7 million ($0.089 per
    share) for Q2 2013 compared to $21.4 million ($0.064 per share) for Q2
    2012 (see Note 1 to the Financial and Operating Results table on page 3
    hereof regarding Non-IFRS measures). 

--  Mart's share of Umusadege field oil produced and sold in Q2 2013 was
    461,329 barrels of oil ("bbls") compared to 408,638 bbls for Q2 2012. 

--  The average price received by Mart for oil in Q2 2013 was $109.30 per
    barrel of oil ("bbl") compared to $103.05 per bbl for Q2 2012. 

--  Mart's share of pipeline and export facility losses for Q2 2013 is
    estimated to be 85,750 bbls, or approximately 16% of crude deliveries
    from the Umusadege field for the period. The pipeline operator has not
    yet reported the losses for May and June 2013. Mart has estimated losses
    of 16% for the two months based upon average losses during preceding
    periods. During Q2 2013, the Umusadege field was shut down for a total
    of 28 days (Q2 2012: 9 days) due to various disruptions, repairs and
    maintenance of the export pipeline. 



SIX MONTHS ENDED JUNE 30, 2013



--  Mart's share of average daily oil produced and sold for the six months
    ended June 30, 2013 from the Umusadege field was 3,827 bopd compared to
    5,713 bopd for the six months ended June 30, 2012. During the six month
    ended June 30, 2013, the Umusadege field was shut down for a total of 74
    days (2012: 27 days) due to various disruptions, repairs and maintenance
    of the export pipeline. 

--  During the six months ended June 30, 2013, Mart has declared total
    dividends of CAD $0.10 per common share for an aggregate amount of CAD
    $35.6 million (2012: CAD $35.6 million). 

--  Net income for the six months ended June 30, 2013 was $21.0 million
    ($0.059 per share) compared to net income of $40.3 million ($0.120 per
    share) for the six months ended June 30, 2012. The lower net income
    during the period was due to the export pipeline shutdowns in Q1 2013
    caused by repairs and maintenance that resulted in decreased revenue. 

--  Funds flow from production operations was $44.8 million ($0.126 per
    share) for the six months ended June 30, 2013 compared to $76.4 million
    ($0.227 per share) for the six months ended June 30, 2012 (see Note 1 to
    the Financial and Operating Results table on page 3 hereof regarding
    Non-IFRS measures). 

--  Mart's share of Umusadege field oil produced and sold for the six months
    ended June 30, 2013 was 692,713 bbls compared to 1,039,840 bbls for the
    six months ended June 30, 2012. The decrease in oil produced and sold
    was primarily attributable to Umusadege field shutdowns during the first
    half of 2013. 

--  The average price received by Mart for oil for the six months ended June
    30, 2013 was $109.53 per bbl compared to $107.05 per bbl for the six
    months ended June 30, 2012. 

--  Mart's share of estimated pipeline and export facility losses for the
    six months ended June 30, 2013 totaled 136,903 bbls, or approximately
    16% of crude deliveries from the Umusadege field for the period. The
    pipeline operator has not yet reported the losses for May and June 2013.
    Mart has used 16% as the estimated losses for these two months based
    upon average losses during preceding periods. 



FINANCIAL AND OPERATING RESULTS

The following table provides a summary of Mart's selected financial and
operating results for the three and six months ended June 30, 2013 and 2012 and
the twelve months ended December 31, 2012:




USD $ 000's                                                                
(except oil                                                                
 produced and                                                              
 sold, share,                                                              
 per share         3 months    3 months    6 months    6 months   12 months
 amounts, and    ended June  ended June  ended June  ended June   ended Dec.
 oil prices)       30, 2013    30, 2012    30, 2013    30, 2012    31, 2012
---------------------------------------------------------------------------
Mart's share of                                                            
 the Umusadege                                                             
 Field:                                                                    
Barrels of oil                                                             
 produced and                                                              
 sold               461,329     408,638     692,713   1,039,840   1,844,389
Average sales                                                              
 price per                                                                 
 barrel             $109.30     $103.05     $109.53     $107.05     $103.43
Mart's                                                                     
 percentage                                                                
 share of total                                                            
 Umusadege oil                                                             
 produced and                                                              
 sold during the                                                           
 period               69.8%       52.0%       63.6%       66.0%       66.7%
Mart's share of                                                            
 petroleum sales                                                           
 after                                                                     
 royalties,                                                                
 content                                                                   
 development                                                               
 levy and                                                                  
 community                                                                 
 development                                                               
 costs              $43,214     $27,824     $63,036     $89,708    $161,390
Funds flow from                                                            
 production                                                                
 operations (1)     $31,705     $21,432     $44,844     $76,392    $137,743
Per share -                                                                
 basic               $0.089      $0.064      $0.126      $0.227      $0.398
Net income          $19,088      $2,354     $20,997     $40,265     $58,046
Per share -                                                                
 basic               $0.054      $0.007      $0.059      $0.120      $0.168
Per share -                                                                
 diluted             $0.053      $0.007      $0.058      $0.115      $0.163
Total assets       $267,116    $245,621    $267,116    $245,621    $281,506
Total bank debt                                                            
 (2)                $23,425         Nil     $23,425         Nil         Nil
Weighted average                                                           
 shares                                                                    
 outstanding for                                                           
 periods ended:                                                            
Basic           356,574,869 337,031,536 356,436,287 336,892,067 345,715,889
Diluted         358,717,631 350,351,187 359,379,004 349,636,416 355,617,583

Note:

(1) Indicates non-IFRS measures. Non-IFRS measures are informative measures
    commonly used in the oil and gas industry. Such measures do not conform
    to IFRS and may not be comparable to those reported by other companies
    nor should they be viewed as an alternative to other measures of
    financial performance calculated in accordance with IFRS. For the
    purposes of this table, the Company defines "Funds flow from production
    operations" as net petroleum sales less royalties, content development
    levy, community development costs and production costs. Funds flow from
    production operations is intended to give a comparative indication of
    the Company's net petroleum sales less production costs as shown in the
    following table: 

                                          3       3       6       6      12
                                     months  months  months  months  months
                                      ended   ended   ended   ended   ended
                                       June    June    June    June     Dec.
                                         30,     30,     30,     30,     31,
USD $ 000's                            2013    2012    2013    2012    2012
---------------------------------------------------------------------------
Petroleum sales                      50,423  30,888  75,873 103,862 190,761
Less: Royalties, content development                                       
 levy and community development                                            
 costs                                7,209   3,064  12,837  14,154  29,371
---------------------------------------------------------------------------
Net petroleum sales                  43,214  27,824  63,036  89,708 161,390
Less: Production costs               11,509   6,392  18,192  13,316  23,647
---------------------------------------------------------------------------
Funds flow from production                                                 
 operations                          31,705  21,432  44,844  76,392 137,743
---------------------------------------------------------------------------

(2) Bank indebtedness was $25 million of which $1.6 million related to
    borrowing costs (consistent with IFRS), resulting in the reported the
    bank debt is $23.4 million. 



OUTLOOK AND OPERATIONS UPDATE:

Dividend

On June 26, 2013, Mart declared a quarterly cash dividend of CAD $0.05 per
common share that was paid to shareholders on July 18, 2013 for an aggregate
amount of CAD $17.8 million.


UMU-10 Well

The Company announced on November 5, 2012 that the UMU-10 well encountered 479
feet of gross hydrocarbon pay in 20 sands. The results of the well tests
conducted have been previously press released.


The operator of the Umusadege field plans to return to the UMU-10 well after
drilling the UMU-11 well (discussed below) to carry out the remaining testing
operations on the XXb and XIX sands in the long string with a coiled tubing
unit. Multirate flow testing will then be performed on all sands completed in
the long string: XIX, XXb, and XXI.


UMU-11 Well

The UMU-11 well commenced drilling operations on August 14, 2013 and is
currently at a depth of 1,100 feet in the 16-inch upper hole section. The
16-inch upper hole section is anticipated to be drilled to a depth of
approximately 5,000 feet. The next activity will include running and cementing
13 3/8 inch casing in the upper hole section. Once completed, drilling will then
continue with a 12 1/4 inch section to a total measured depth of approximately
8,700 feet, followed by running a 9 5/8 inch casing.


The main objectives for the UMU-11 well are to appraise and produce proven oil
reservoirs encountered but not completed in the UMU-9 and UMU-10 wells. These
sands (XIIb, XIIc, XVIa, and XVIb) were previously logged and sampled. The
UMU-11 objective is to test four of these oil-bearing sands, and if successful,
complete these sands for production.


After completion of the UMU-11 well, an exploration/appraisal well is planned to
be drilled on the East exploration structure of the Umusadege field.


Second Drilling Rig

A tender for a second drilling rig was successfully completed, and after site
preparation the second drilling rig is expected to start drilling a water
disposal well in September 2013. After completion of the water disposal well,
the rig is planned to be used to re-entry UMU-8 well. Following the activities
at UMU-8, the drilling rig will move to the UMU-4 location to drill a re-entry
horizontal development well in Q1 2014. Mart and its co-venturers plan to drill
several additional horizontal wells.


Umugini Pipeline Construction Update

Construction of the Umugini pipeline has been completed from the location near
the Umusadege field to a point approximately 17 kilometers into the 51-kilometer
pipeline. Construction operations are being delayed due to weather conditions
and heavy rains in the area that required the construction contractor to shut
down operations. It is now expected that pipeline construction will be completed
in the first quarter of 2014.


The Umugini pipeline has two segments. The first segment is from the Umusadege
field south to the Ogini flow station on OML 26. This section is 23 kilometers
in length and is where the 17 kilometers of pipeline construction has been
completed. The second segment is from the Ogini flow station west to the Eriemu
flow station. This section of the pipeline will be constructed along an existing
right of way and will be twinning the existing pipeline currently operating
between the Ogini flow station and the Eriemu flow station. The Umugini pipeline
will provide a second independent export pipeline for Umusadege field
production. The Umugini pipeline's gross transportation capacity will be
approximately 45,000 barrels per day and it will connect the Umusadege field to
the Trans Forcados export pipeline. The Trans Forcados export pipeline will
deliver crude oil from Umusadege field to the Forcados export terminal operated
by Shell.


Production Update

Umusadege field production during July 2013 averaged 10,800 bopd. Umusadege
field downtime during July 2013 was approximately 4.5 days due to sporadic
shutdowns required for commissioning and testing of the new central processing
facility and operations connected to preparation for drilling of the UMU-11
well. The average field production based on producing days was 13,200 bopd in
July 2013, which is the highest average production rate for a calendar month
based on production days.


Total net crude oil deliveries into the export pipeline from the Umusadege field
for July 2013 were approximately 347,100 bbls before pipeline losses. Pipeline
and export facility losses for May 2013, June 2013 and for July 2013 have not
yet been reported by Nigerian Agip Oil Company ("Agip"), the export pipeline
operator. In the past, Agip has reported pipeline and export facility losses one
month after the final reporting of each month's injection totals, but for the
past two months the pipeline losses have not been reported. Mart and its
co-venturers have requested the loss information from Agip and will publicly
disclose this information when it is received.


As a result of negotiations with Agip, the Umusadege field has been allocated an
additional pipeline reserved production capacity of up to 4,500 bopd. An
increase in oil shipments from the Umusadege field will be achieved after more
powerful pumps are obtained and installed by Agip.


CHAIRMAN'S COMMENT:

Wade Cherwayko, Chairman & CEO of Mart, said, "In the second quarter of 2013
Mart resumed normal production operations, after experiencing shutdowns in the
first quarter that were far above normal due to maintenance and repairs to the
export pipeline performed by the pipeline operator. This resulted in much
improved production and revenue in Q2 2013 compared to Q1 2013 and Mart's
revenue for Q2 2013 was $43.2 million with a net income after taxes of $19.1
million.


The export pipeline resumed normal operations on April 17, 2013, and production
and injection into the export pipeline has continued at levels at or nearing the
maximum allocation. The Umusadege field's production capacity remains strong,
and the potential of the field continues to be very positive. The Company
continues to work towards maximizing production and increasing reserves. The
construction of the additional export pipeline will also enable the Umusadege
co-venturers to fully exploit the potential of the Umusadege field. The new
Central Production Facility ("CPF") was commissioned in the beginning of July
2013 at the Umusadege field and all production is being processed by new
facility. Current capacity of the CPF is 35,000 barrels per day and is
expandable to handle future production increases as needed. The drilling of
UMU-11 well began in August 2013. Additional development drilling activities are
planned for the remainder of 2013. The Company declared a quarterly cash
dividend of CAD $0.05 per common share that was paid to shareholders on July 18,
2013 for an aggregate amount of CAD $17.8 million."


Mart will hold a conference call to discuss the operational and financial
results for the quarter ended June 30, 2013. The conference call is scheduled
for August 16, 2013 at 10:00 AM Mountain Daylight Time (12:00 Eastern Daylight
Time). Wade Cherwayko, Chairman & CEO of Mart, and Dmitri Tsvetkov, Chief
Financial Officer of Mart, will host the call and be available during the
question-and-answer session. To access the conference call, please dial
1-866-225-2055 or 416-340-8061. An instant replay of the call will be available
until August 23, 2013 by dialing 1-800-408-3053 or 905-694-9451 and entering
pass code 5224100.


Additional information regarding Mart is available on the Company's website at
www.martresources.com and under the Company's profile on SEDAR at www.sedar.com.


Notes: Except where expressly stated otherwise, all production figures set out
in this press release, including bopd, reflect gross Umusadege field production
rather than production attributable to Mart. Mart's share of total gross
production before taxes and royalties from the Umusadege field fluctuates
between 82.5% (before capital cost recovery) and 50% (after capital cost
recovery).


Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking
statements" as such term is used in applicable Canadian and US securities laws.
Any statements that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions or future
events or are not statements of historical fact and should be viewed as
"forward-looking statements". These statements relate to analyses and other
information that are based upon forecasts of future results, estimates of
amounts not yet determinable and assumptions of management. Such forward looking
statements involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of the Company
to be materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements.


In particular, statements (express or implied) contained herein or in Mart's
Management's Discussion and Analysis ("MD&A") regarding the following should be
considered forward-looking statements: the Company's goals and growth strategy,
estimates of reserves and future net revenues, exploration and development
activities in respect of the Umusadege field, the Company's ability to finance
its drilling and development plans with cash flows from operations, the ability
of the Company to successfully drill and complete future wells, the ability of
the Company to commercially produce, transport and sell oil from the Umusadege
field, future anticipated production rates, export pipeline capacity available
to the Company, the expectation of the Company that production and export
pipeline disruptions will not have a lasting impact on the Company's future
production, timing of completion of the Company's upgrading of the central
production facility, the construction and completion of an alternative export
pipeline, the acceptance of the Company's tax filings by the Nigerian taxing
authorities, treatment under government regulatory regimes including royalty and
tax laws, projections of market prices and costs, supply and demand for oil,
timing for receipt of government approvals, and the ability of the Company to
satisfy its current and future financial obligations to its banks and other
creditors.


There can be no assurance that such forward-looking statements will prove to be
accurate as actual results and future events could vary or differ materially
from those anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking statements contained in this news release.
This cautionary statement expressly qualifies the forward-looking statements
contained herein.


Forward-looking statements are made based on management's beliefs, estimates and
opinions on the date the statements are made and the Company undertakes no
obligation to update forward-looking statements and if these beliefs, estimates
and opinions or other circumstances should change, except as required by
applicable law.


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT
TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE RELEASE.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Mart Resources, Inc.-London, England office
Wade Cherwayko
[phone]
[e-mail]


Mart Resources, Inc.-London, England office
Dmitri Tsvetkov
[phone]
[e-mail]


Mart Resources, Inc.-Canada
Sam Grier
403-270-1841 or toll free 1-888-875-7485
www.martresources.com