FTTN Secures Interest in New Oil Asset
BRADENTON, Fla.--(BUSINESS WIRE)-- First Titan Corp. (OTCBB:FTTN) is moving forward to secure an interest position in a Lake Boeuf Field oil and gas lease in Southeast Louisiana.
The Lake Boeuf Field prospect covers more than 300 leasehold acres in Lafourche Parish. FTTN acquired a working interest in the lease from Intrepid Drilling, LLC, the company's joint venture partner in the South Lake Charles Prospect well in Calcasieu, La. It is the fifth working interest in a prospective U.S. oil and gas well that FTTN has acquired in the past year.
3D seismic data collected on the lease indicates promising production potential. FTTN expects to thoroughly analyze additional geological data on the site in the coming weeks.
FTTN is aggressively pursuing potentially lucrative oil and gas leases along the Gulf Coast. With oil now flowing at FTTN's well in the Little Cedar Creek Field in Alabama, the company will turn its focus to bringing more of its working interests online in the coming months as well as acquiring more promising drilling sites in the U.S.
For more information on FTTN's oil and gas projects, please visit www.firsttitanenergy.com/investors.
First Titan is working to develop new energy solutions to compete in a booming global industry alongside Chesapeake Energy Corp. (NYS: CHK) , Anadarko Petroleum Corp. (NYS: APC) , SandRidge Energy Inc. (NYS: SD) and Apache Corp. (NYS: 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
KEYWORDS: United States North America Florida Louisiana
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