FTTN Adds Another New Oil & Gas Well to Growing List of Assets

BRADENTON, Fla.--()--First Titan Corp.’s (OTCBB:FTTN) aggressive approach toward acquisitions in the U.S. oil and gas industry continues to pay off. Today, the company announced that it purchased a working interest in a proposed well in Alabama scheduled to be spudded this month.

The proposed well is located in Conecuh County, Ala., in the Little Cedar Creek Field, Alabama’s largest producing oil field. Reserve estimates for the proposed drilling site range from 400,000 to 800,000 barrels of oil, dependent on the presence of both the upper and lower Smackover in the wellbore.

The site location is surrounded by wells with a history of oil production, and the success of these wells as well as promising geological data have FTTN executives excited about the new well’s prospects.

The working interest was acquired from Avery Producing, LLC. It is the third working interest in a prospective well that FTTN has purchased so far this year. The company also owns interests in promising wells located in Terrell County, Texas, and Calcasieu Parish, La.

FTTN is aggressively pursuing potentially lucrative oil and gas leases in the Southern U.S. The Big Canyon Prospect is the second oil and gas lease in which FTTN owns a working interest. Earlier this month, the company acquired a working interest in a new well to be drilled in South Lake Charles, La.

The company plans to continue targeting promising assets in the region in order to achieve its growth objectives.

First Titan is working to develop new energy solutions to compete in a booming global industry alongside Chesapeake Energy Corp. (NYSE: CHK), Anadarko Petroleum Corp. (NYSE: APC), SandRidge Energy Inc. (NYSE: SD) and Apache Corp. (NYSE: APA).

For more information on FTTN’s unconventional resources initiative, please visit www.firsttitanenergy.com/investors.

About First Titan Corp.

First Titan Corp., through its wholly owned subsidiary, First Titan Energy, LLC, is committed to the exploration and development of oil and natural gas resources around the globe. The company continually seeks to partner with energy developers that are pursuing innovative new methods of oil and gas extraction, including the development of new technologies, cleaner methods and unconventional resources.

For more information about First Titan Energy, please visit www.firsttitanenergy.com. Follow us on Twitter at www.twitter.com/firsttitancorp.

Notice Regarding Forward-Looking Statements

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words “believes,” “expects,” “anticipate” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone’s past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.

Contacts

First Titan Corporation
Robert Federowicz, 941-753-4889
President and CEO
info@firsttitancorp.com

Release Summary

FTTN Adds Another New Oil & Gas Well to Growing List of Assets

Sharing

Contacts

First Titan Corporation
Robert Federowicz, 941-753-4889
President and CEO
info@firsttitancorp.com