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 nine months ended September 30, 2013
("Q3 2013"):


THREE MONTHS ENDED SEPTEMBER 30, 2013



--  Mart's share of average daily oil produced and sold for the three months
    ended September 30, 2013 ("Q3 2013") from the Umusadege field per
    calendar day was 4,291 barrels of oil per day ("bopd") compared to 6,692
    bopd for the three months ended September 30, 2012 ("Q3 2012"). Mart's
    share of average daily oil produced and sold for Q3 2013 from the
    Umusadege field per production day was 5,483 bopd compared to 7,077 bopd
    for Q3 2012. During Q3 2013 the pipeline operator reported pipeline and
    export facility losses for May and June 2013 that were higher than
    estimates previously used by Mart and in addition, the pipeline operator
    reported adjustments that led to an increase in pipeline and export
    facility losses previously reported in the first quarter of 2013 ("Q1
    2013"). These additional pipeline and export facility losses
    ("additional losses") were recognized in Q3 2013. Mart's share of the
    additional losses was approximately 69,726 barrels of oil ("bbls"),
    which are estimated at $7.9 million and accounted for as a reduction of
    revenues in Q3 2013. Excluding the additional losses, Mart's share of
    average daily oil produced and sold per calendar day for Q3 2013 was
    5,049 bopd (6,452 bopd based on production days). During Q3 2013, the
    Umusadege field was shut down for a total of 20 days (Q3 2012: 5 days)
    due to various disruptions, repairs and maintenance of the export
    pipeline. 
    
--  On September 4, 2013 Mart declared a quarterly dividend of Canadian
    dollars ("CAD") $0.05 per common share. The quarterly dividend was paid
    on October 2, 2013 for an aggregate amount of $17.3 million (CAD $17.8
    million). 
    
--  Net income for Q3 2013 was $6.3 million ($0.018 per share) compared to
    net income of $21.5 million ($0.061 per share) for Q3 2012. 
    
--  Funds flow from production operations was $24.0 million ($0.067 per
    share) for Q3 2013 compared to $45.0 million ($0.128 per share) for Q3
    2012 (see Note 1 to the Financial and Operating Results table on page 5
    hereof regarding Non-IFRS measures). 
    
--  Mart's share of Umusadege field oil produced and sold in Q3 2013 was
    394,810 bbls compared to 615,686 bbls for Q3 2012. 
    
--  The average price received by Mart for oil in Q3 2013 was $110.61 per
    bbl compared to $106.91 per bbl for Q3 2012. 
    
--  Mart's share of pipeline and export facility losses for Q3 2013, before
    additional losses, was 145,912 bbls, or approximately 23.9% of crude
    deliveries from the Umusadege field. 



NINE MONTHS ENDED SEPTEMBER 30, 2013



--  Mart's share of average daily oil produced and sold per calendar day for
    the nine months ended September 30, 2013 from the Umusadege field was
    3,984 bopd compared to 6,042 bopd for the nine months ended September
    30, 2012. Mart's share of average daily oil produced and sold for the
    nine months ended September 30, 2013 from the Umusadege field per
    production day was 6,076 bopd compared to 6,869 bopd for nine months
    ended September 30, 2012. During the nine months ended September 30,
    2013, the Umusadege field was shut down for a total of 94 days (2012: 32
    days) due to various disruptions, repairs and maintenance of the export
    pipeline. 
    
--  During the nine months ended September 30, 2013 Mart has declared total
    dividends of CAD $0.15 per common share for an aggregate amount of $51.9
    million (CAD $53.4 million) (2012: $53.2 million (CAD $53.4 million)). 
    
--  Net income for the nine months ended September 30, 2013 was $27.3
    million ($0.077 per share) compared to net income of $61.8 million
    ($0.181 per share) for the nine months ended September 30, 2012. The
    lower net income during the period was primarily due to higher pipeline
    and export facility losses (including the additional losses recognized
    in Q3 2013), export pipeline shutdowns and increase in production costs
    during the nine month period. The export pipeline shutdowns were caused
    by various disruptions, repairs and maintenance of the pipeline and
    export facility. 
    
--  Funds flow from production operations was $68.8 million ($0.193 per
    share) for the nine months ended September 30, 2013 compared to $121.4
    million ($0.355 per share) for the nine months ended September 30, 2012
    (see Note 1 to the Financial and Operating Results table on page 5
    hereof regarding Non-IFRS measures). 
    
--  Mart's share of Umusadege field oil produced and sold for the nine
    months ended September 30, 2013 was 1,087,523 bbls compared to 1,655,526
    bbls for the nine months ended September 30, 2012. The decrease in oil
    produced and sold was primarily attributable to Umusadege field
    shutdowns during the nine month period and the higher levels of pipeline
    and export facility losses during 2013. 
    
--  The average price received by Mart for oil for the nine months ended
    September 30, 2013 was $109.93 per bbl compared to $102.50 per bbl for
    the nine months ended September 30, 2012. 
    
--  Mart's share of pipeline and export facility losses for the nine months
    ended September 30, 2013 totaled 352,541 bbls, or approximately 24.1% of
    total crude deliveries from the Umusadege field for the period. 



FINANCIAL AND OPERATING RESULTS 

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




USD $ 000's                                                                 
                               3 months ended 3 months ended 9 months ended 
(except oil produced and sold,                                              
 share, per share amounts, and  September 30,  September 30,  September 30, 
 oil prices)                             2013           2012           2013 
----------------------------------------------------------------------------
Mart's share of the Umusadege                                               
 Field:                                                                     
Barrels of oil produced and                                                 
 sold                                 394,810        615,686      1,087,523 
Average sales price per barrel  $      110.61  $      106.91  $      109.93 
Mart's percentage share of                                                  
 total Umusadege oil produced                                               
 and sold during the period              67.7%          63.0%          65.0%
                                                                            
Mart's share of petroleum                                                   
 sales after royalties,                                                     
 content development levy and                                               
 community development costs    $      35,842  $      53,433  $      98,878 
Funds flow from production                                                  
 operations (1)                 $      23,953  $      44,996  $      68,797 
Per share - basic               $       0.067  $       0.128  $       0.193 
Net income                      $       6,337  $      21,528  $      27,334 
Per share - basic               $       0.018  $       0.061  $       0.077 
Per share - diluted             $       0.017  $       0.060  $       0.074 
                                                                            
Petroleum properties interests                                              
 capital expenditure (2)        $      15,557  $      14,947  $      36,789 
Total assets                    $     265,403  $     250,892  $     265,403 
Total borrowings (3)            $      43,663            Nil  $      43,663 
Weighted average shares                                                     
 outstanding for periods                                                    
 ended:                                                                     
Basic                             356,574,869    352,804,579    356,482,989 
Diluted                           367,004,204    357,922,013    367,748,125 
                                                                            

USD $ 000's                                                         
                                  9 months ended    12 months ended 
(except oil produced and sold,                                      
 share, per share amounts, and     September 30,       December 31, 
 oil prices)                                2012              2012  
--------------------------------------------------------------------
Mart's share of the Umusadege                                       
 Field:                                                             
Barrels of oil produced and                                         
 sold                                  1,655,526          1,844,389 
Average sales price per barrel  $         102.50   $         103.43 
Mart's percentage share of                                          
 total Umusadege oil produced                                       
 and sold during the period                 65.0%              66.7%
                                                                    
Mart's share of petroleum                                           
 sales after royalties,                                             
 content development levy and                                       
 community development costs    $        143,141   $        161,390 
Funds flow from production                                          
 operations (1)                 $        121,388   $        137,743 
Per share - basic               $          0.355   $          0.398 
Net income                      $         61,789   $         58,046 
Per share - basic               $          0.181   $          0.168 
Per share - diluted             $          0.175   $          0.163 
                                                                    
Petroleum properties interests                                      
 capital expenditure (2)        $         41,995   $         69,506 
Total assets                    $        250,892   $        281,506 
Total borrowings (3)                         Nil                Nil 
Weighted average shares                                             
 outstanding for periods                                            
 ended:                                                             
Basic                                342,233,799        345,715,889 
Diluted                              353,826,708        355,617,583 



Notes: 



(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 months  3 months  9 months  9 months 12 months
                               ended     ended     ended     ended     ended
                           September September September September  December
USD $ 000's                 30, 2013  30, 2012  30, 2013  30, 2012  31, 2012
----------------------------------------------------------------------------
Petroleum sales               43,670    65,822   119,551   169,684   190,761
Less: Royalties, content                                                    
 development levy and                                                       
 community development                                                      
 costs                         7,828    12,389    20,673    26,543    29,371
----------------------------------------------------------------------------
Net petroleum sales           35,842    53,433    98,878   143,141   161,390
Less: Production costs        11,889     8,437    30,081    21,753    23,647
----------------------------------------------------------------------------
Funds flow from production                                                  
 operations                   23,953    44,996    68,797   121,388   137,743
----------------------------------------------------------------------------
----------------------------------------------------------------------------
(2)  Petroleum properties interests capital expenditure relates to additions
     to petroleum property interests excluding the capitalized              
     decommissioning obligations.                                           
                                                                            
(3)  The total gross amount of loan drawdowns net of loan repayments is $44 
     million. After taking account of unamortized borrowing costs, the total
     loan amount due within one year is $17.1 million and has been reported 
     under current liabilities in the statement of financial position. The  
     amount due after one year is $26.6 million and is included within non- 
     current liabilities in the statement of financial position.            



OUTLOOK AND OPERATIONS UPDATE:

Dividend

On September 4, 2013, Mart declared a quarterly cash dividend of CAD $0.05 per
common share that was paid to shareholders on October 2, 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 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 reached a final total drilling depth of approximately 8,910 feet
on September 27, 2013. Open hole well logging has been completed, pressure
surveys on prospective zones have been conducted, and fluid samples have been
acquired.


Operations to run 9 5/8 inch casing to the bottom of the well have been
completed and the casing has been cemented. The primary objectives of the UMU-11
well are to appraise and produce the proven oil reservoirs encountered but not
completed in the UMU-9 and UMU-10 wells. Target sands for testing have been
identified, and the well has been completed using a dual-string configuration.
Flow testing of the completed IX, XIIb and XIIIb sands is underway. 


Drilling program

A second drilling rig has been contracted and it is anticipated that the water
disposal well will be drilled in December 2013. 


Also, it is planned to re-enter the UMU-8 well in December 2013 or January 2014.
Preliminary plans are to drill a re-entry horizontal development well and an
exploration well in 2014.


Umugini Pipeline Construction Update

Construction of the Umugini pipeline has been completed from the location near
the Umusadege field to a point approximately 18 kilometers into the 51-kilometer
pipeline. Construction operations have been delayed due to weather conditions in
the area that required the construction contractor to shut down pipeline
construction operations. Work on a road crossing is underway in preparation for
resumption of pipeline construction operations. Negotiations are nearing
conclusion with the local communities for right of way for the last five
kilometers of the first section of the Umugini pipeline. It is expected that the
pipeline contractor will re-mobilize and restart construction operations after
current rains diminish and flooding recedes, which is anticipated by December
2013. Once final government approval is received for the second phase of the
project and weather conditions permit, construction of the second section of the
Umugini pipeline will commence. It is expected that pipeline construction will
be completed in the first half 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 approximately 18 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 October 2013 averaged 10,735 bopd. Umusadege
field downtime during October 2013 was approximately 4.5 days due mainly to
maintenance and repairs on the export pipeline performed by the pipeline
operator, AGIP. The average field production based on producing days was 12,638
bopd in October 2013. On certain days in October 2013 export oil shipments into
AGIP pipeline, before pipeline losses, reached record levels in excess of 16,000
bopd.


Total net crude oil deliveries into the export pipeline from the Umusadege field
for October 2013 were approximately 325,700 bbls before pipeline losses.
Pipeline and export facility losses reported by AGIP and allocated to Mart and
its co-venturers for September 2013 were 74,103 bbls, or 28.4% of total crude
oil deliveries into the export pipeline. October 2013 pipeline and export
facility losses have not yet been reported by AGIP. Pipeline and export facility
losses have averaged 24.1% for the first nine months of 2013. 


As previously reported, the Umusadege field has been allocated an additional
pipeline reserved production capacity of up to 4,500 bopd by AGIP. An increase
in oil shipments from the Umusadege field is expected to be achieved after
modifications are made in and around Kwale flow station to facilitate the
additional oil shipments.


CHAIRMAN'S COMMENT:

Wade Cherwayko, Chairman & CEO of Mart said, "Drilling of the UMU-11 well was
completed in September and testing of three target zones is nearly complete,
with results anticipated soon. The Umusadege field's production capacity remains
strong, and the potential of the field continues to be very positive.
Unfortunately, in the third quarter of 2013 Mart has experienced high pipeline
and export facility losses, which resulted in lower production and revenue in Q3
2013 compared to Q2 2013. Mart's revenue for Q3 2013 was $35.8 million with a
net income after taxes of $6.3 million.


The construction of the Umugini pipeline is scheduled to resume in December
2013, and when completed will enable the Umusadege co-venturers to more 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. 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 October 2, 2013 for a
total amount of CAD $17.8 million."


Mart will hold a conference call to discuss the operational and financial
results for the quarter ended September 30, 2013. The conference call is
scheduled for November 22, 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 1-800-769-8320 or 416-340-8527. An instant replay of the call will be
available until November 29, 2013 by dialing 1-800-408-3053 or 905-694-9451 and
entering pass code 9302715.


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
Wade Cherwayko / Dmitri Tsvetkov
+44 207 351 7937
Wade@martresources.com / dmitri.tsvetkov@martresources.com


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

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