BRADENTON, Fla.--(BUSINESS WIRE)-- First Titan Corp. (OTCBB: FTTN) could soon be adding oil and gas leases in Southeast Texas to its rapidly growing base of domestic energy assets.
Texas’ Gulf Coast is the next oil and gas hotspot to be targeted by the company, which already owns a majority working interest in a well prospect in Terrell County in the state’s western half. October has been a busy month for FTTN. In addition to hiring a new COO, the company recently acquired its fifth working interest in the Southern U.S.—a promising prospective well in Lafourche Parish, La.
The flurry of activity has been prompted by the start of production at FTTN’s well in Alabama’s Little Cedar Creek, which has far exceeded the company’s expectations.
“With production now underway in Alabama, we’re really focusing in on expanding our assets,” said FTTN CEO Robert Federowicz. “Texas’ Golden Triangle area is where we’re looking now. Acquiring oil and gas leases there could be a more profitable proposition for us in that region, and it’s an opportunity we’re very excited about exploring.”
As demand for oil increases around the globe, FTTN is committed to developing new domestic resources to create American jobs and capitalize on rising energy costs. For more information on FTTN’s fast-growing list 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 Chesapeake Energy Corp. (NYSE: CHK), Anadarko Petroleum Corp. (NYSE: APC), SandRidge Energy Inc. (NYSE: SD) 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.
First Titan Corporation
Robert Federowicz, 941-753-4889
President and CEO
Source: First Titan Corp.