FTTN: Louisiana Well Set for Spud in Next 30 Days
BRADENTON, Fla.--(BUSINESS WIRE)-- First Titan Corp. (OTCBB: FTTN), a fast-growing energy company, announced today that one of its working interests in Louisiana is rapidly approaching its spud date.
The company's lease near South Lake Charles, La., is one of two working interests that FTTN owns in the state, one of the nation's top energy producers. Two wells have produced 21.3 billion cubic feet of gas and 1.7 million barrels of oil in the South Lake Charles field. There is a proved trapping fault block on the west flank of the field, up-dip to production.
Pad site preparation is underway now at the drilling site. When that's complete, FTTN expects drilling to begin in the next 30 days.
FTTN has identified several new acquisition targets throughout the U.S. and Canada, focusing on oil-centric assets with the highest potential for profitability. The company plans to make a series of prudent acquisitions that will provide a solid base to facilitate a singular, pivotal acquisition in the next 12-18 months.
The company is dedicated to continuing development of energy assets throughout North America alongside companies such as Continental Resources, Inc. (NYS: CLR) , Chesapeake Energy Corp. (NYS: CHK) , SandRidge Energy Inc. (NYS: SD) and Ultra Petroleum Corp. (NYS: 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.
For more information about First Titan Energy, please visit www.firsttitanenergy.com.
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
Harvey S. Bryant, 941-753-4889
President and CEO
KEYWORDS: United States North America Florida Louisiana
The article FTTN: Louisiana Well Set for Spud in Next 30 Days originally appeared on Fool.com.
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