BRADENTON, Fla.--(BUSINESS WIRE)--First Titan Corp. (OTCBB: FTTN) President and CEO Robert Federowicz issued the following letter to shareholders today lauding a successful year in 2012 and a promising outlook for 2013:
Thank you for helping to make 2012 a productive and successful year for First Titan Corp.! Oil and gas are now flowing at the first of many wells under our ownership, opening up exciting new opportunities for our company. We are very pleased with the results of our drilling program at Little Cedar Creek Field in Alabama as well as the acquisition of working interests in the South Lake Charles and Lake Boeuf Field prospects in Louisiana and a horizontal well in Logan County, Okla.
Our first well in Alabama’s Little Cedar Creek Field is already operating at maximum permitted output. With the production from our Alabama well above our expectations, 2013 is all set up to be the most profitable year in our company’s short history. Our risk analysis and the experience of our partners have proven to be a winning combination in selecting our investment opportunities, and our pipeline of oil and gas projects in Louisiana is scheduled to be coming online in Q1 of the coming year.
We’re especially excited about our latest efforts in the state of Louisiana. In order to diversify our cash flow sources, First Titan is considering the purchase of existing production in south Louisiana. Our plans for 2013 don’t stop at the water’s edge, however. We are also evaluating prime opportunities among the shallow offshore leases along the Louisiana coast.
Louisiana is the country’s top crude oil producer, including production from the state’s Outer Continental Shelf. Last year, the state produced over 500 million total barrels of crude oil and condensate, and soon we expect FTTN to begin pumping out even more.
We are looking forward to your continuing support as we plan an exciting year for FTTN and our shareholders in 2013. With the demand for oil and natural gas showing no signs of decline and the focus of U.S. production moving the nation ever closer to energy independence, this company is positioned to accelerate its growth to become a significant player in the E&P market.
As amazing as 2012 has been, we’re looking forward to an even happier New Year. We hope you’ll continue to support us as we grow!
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.