BRADENTON, Fla.--(BUSINESS WIRE)--For the first time in the company’s brief history, First Titan Corp. (OTCBB: FTTN) is exploring the acquisition of producing oil and gas wells.
FTTN is concentrating its initial exploration to southern Louisiana, one of the nation’s richest energy producing regions. The company is already evaluating the purchase of part of existing production from a well pumping out 200 barrels of oil a day and three million cubic feet of gas.
“Due to its steady production numbers and geographic proximity to our other projects, this well looks like a smart, natural addition to First Titan’s asset base,” said FTTN CEO Robert Federowicz. “We look forward to evaluating many such opportunities as our company grows.”
FTTN owns a working interest in a production well in Alabama, with plans to drill a second in Louisiana before the end of the year. The promising reserve estimates for both assets have FTTN predicting a highly successful 2013 for the company and its shareholders.
For more information on FTTN’s oil and gas projects, please visit www.firsttitanenergy.com/investors.html.
First Titan is working to develop new energy solutions to compete in a booming global industry alongside Occidental Petroleum Corp. (NYSE: OXY), Anadarko Petroleum Corp. (NYSE: APC), Energen Corp. (NYSE: EGN) and Apache Corp. (NYSE: APA).
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.
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.