First Titan Corp. (OTCBB: FTTN) anticipates the acquisition of a working interest in a producing oil and gas well in Louisiana within the next few weeks, the company announced today.
The well, located west of Cutoff Field in Lafourche Parish, La., is operated by FTTN’s joint venture partner, Intrepid Drilling, LLC, and is currently producing 160 barrels of oil and 2,700 million cubic feet of natural gas per day.
“Due to its steady production numbers and convenient 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 targeting many more such opportunities in 2013 as our company continues to grow.”
The Company also owns several additional working interests in Louisiana as well as Alabama. FTTN hopes to begin drilling on the Louisiana well before the close of 2012. For more information on FTTN’s fast-growing collection of 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.