After enjoying a tremendously successful year, First Titan Corp. (OTCBB: FTTN) is gearing up for a major push to finish 2012 strong.
With oil and gas flowing at the company’s new well in Alabama, FTTN is moving forward quickly to build on its success. The company has plans to begin drilling a second well, located in Lake Boeuf Field in Lafourche Parish, La., before year’s end that boasts estimated reserves of 11 billion cubic feet of natural gas and 880,000 barrels of condensate.
Next on the list of interests to begin drilling is another Louisiana prospect located 7 miles south of the city of Lake Charles in Calcasieu Parish, La. Additionally, the company is only waiting to secure a water disposal well at its Breaux #2 prospect in Logan County, OK to begin drilling the horizontal well.
“Now that production is underway in our Little Cedar Creek Field project in Alabama, our other prospects are beginning to fall into place,” said FTTN CEO Robert Federowicz. “As huge as 2012 has been for our company and our shareholders, we plan to finish the year off with a bang and enjoy even more success in 2013.”
Federowicz is currently scheduled to tour each of FTTN’s six oil and gas projects and prospects before the start of the new year, alongside FTTN COO Harvey Bryant and Intrepid Drilling manager Bill Simmons. Intrepid plans to partner with FTTN to drill those wells.
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.