The Latin American nation, which earlier this year opened its domestic oil and gas sector to outside investment for the first time since 1938, held its third and final lease auction, an auction government official are calling the most successful to date. While FTTN has been moving aggressively towards acquiring U.S. assets, the company has not discounted a potential future move south in an effort to build revenues and increase shareholder value.
“We’ve made tremendous progress in the U.S. in terms of value-based asset acquisitions,” said FTTN CEO Sydney Jim. “However, Mexico remains an important part of our plans. It’s going to play a bigger role in the months and years to come. Right now, we’re looking for the right mix of partners and opportunities because we want to do this the right way, not only for our company but its shareholders as well.”
Mexico has held three oil and gas auctions in 2015. After a rough start, the following auctions have proven more successful. One potential reason for the increased interest could be that Mexico’s oil sector needs help, so much help that the oil-rich country has actually started to import American oil.
FTTN is building a competitive portfolio of oil and gas properties alongside companies such as Lucas Energy, Inc. (LEI), Earthstone Energy, Inc. (ESTE), Fieldpoint Petroleum Corp. (FPP) and Evolution Petroleum Corp. (EPM).
For more information on FTTN’s oil and gas projects, please visit www.firsttitanenergy.com.
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.
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