First Titan Corp. (OTCBB: FTTN) is reworking one of its Texas oil wells to maximize production and revenue as the company continues its aggressive acquisition and development strategy for the year.
A well in FTTN’s Minns asset package in Waller County (Texas) is being pulled to address a hole in the tubing and return the well to previous production rates. The asset, located in the Brookshire Field, has a proven track record as it has been determined to contain over 8,500 barrels of oil and has produced for several decades. It is scheduled to be back online within two weeks.
“This asset has tremendous upside, and these repairs are an expected part of a producing well,” FTTN Interim CEO Robert Federowicz said. “We are excited about the potential of Minns No. 3 and look to being back online after a brief stop for standard maintenance.”
FTTN is an oil and gas energy company seeking continued growth of a diversified oil and gas portfolio. It is building a substantial collection of oil and gas properties and is dedicated to the continuing development of energy assets throughout North America alongside companies such as Continental Resources, Inc. (NYSE: CLR), Chesapeake Energy Corp. (NYSE: CHK), SandRidge Energy Inc. (NYSE: SD) and Ultra Petroleum Corp. (NYSE: UPL).
For more information on FTTN’s oil and gas projects, please visit www.firsttitanenergy.com/investors.html.
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.