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An independent oil & gas company focussing on bringing African oil fields into production that are proven but have not yet been developed.

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Message: Take over bid on the table

Take over bid on the table

posted on Feb 11, 2009 06:52AM

Mart Receives Expression ofInterest for a Corporate Transaction, Appoints Special Committee andSeeks to Appoint a Financial Advisor

CALGARY, ALBERTA--(Marketwire - Feb.11, 2009) - Mart Resources, Inc. (TSX VENTURE:MMT) ("Mart" or the"Company") announces that it has received an unsolicited expression ofinterest from a third party with respect to a proposal for a corporatepurchase transaction. In response thereto, the Board of Directors ofthe Company has appointed a special committee of the board of directorsto review and evaluate this expression of interest as well as toevaluate all other possible strategic alternatives that may beavailable to the Company with the intent of maximizing shareholdervalue. In furtherance of the foregoing, Mart is also seeking to retaina financial advisor to assist in this strategic review process.

About Mart Resources:

Mart Resources Inc. is an independent, international petroleumcompany focused on drilling, developing and producing oil and gas fromlow-risk proven petroleum properties in Africa. The Company owns twodrilling rigs, has strong local relationships and has formed jointventure partnerships with indigenous operators in Nigeria. Mart hasacquired interests in and begun development of three onshore Nigerianoil fields. Mart's first oil production commenced in April 2008 fromthe Umusadege field.
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