FTTN Expects High Returns from Louisiana Oil Wells
BRADENTON, Fla.--(BUSINESS WIRE)-- Louisiana's exemplary history of oil and gas production has set expectations high for First Titan Energy's (OTCBB: FTTN) assets.
Louisiana is the nation's top crude oil producer. Even excluding the state's massive offshore production, Louisiana would still rank No. 6. So far in 2012, the state has produced 238,436,093 barrels of crude oil and condensate, according to the Louisiana Department of Natural Resources.
FTTN owns two working interests in prospective wells in Louisiana. The first is located in the historic South Lake Charles Field in Southwestern Louisiana, and the second in Lake Boeuf Field in the Southeastern region of the state. As the company and its partners work to finalize funding for both projects, FTTN CEO traveled to Louisiana this week to meet with the proposed well operators and inspect the two properties.
"We're committed to further oil and gas exploration in Louisiana, which is a premiere energy-producing state," said FTTN CEO Robert Federowicz. "The reserve estimates for both of our current assets in the state are highly promising, and we plan to move forward with drilling as soon as the necessary funding is secured."
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. (NYS: OXY) , Anadarko Petroleum Corp. (NYS: APC) , Energen Corp. (NYS: EGN) 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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