FTTN Works to Increase Oil and Gas Holdings in Booming Texas Market


FTTN Works to Increase Oil and Gas Holdings in Booming Texas Market

BRADENTON, Fla.--(BUSINESS WIRE)-- First Titan Corp. (OTCBB: FTTN) continues its determined pursuit of Texas oil and gas this week, targeting assets in Waller County for potential acquisition.

This week, FTTN finalized a letter of intent to acquire a working interest in the property. The Lone Star State, long known for its energy assets, has been a major region of focus in FTTN's aggressive acquisitions strategy. In addition to its assets in Terrell County, the company is also negotiating the possible acquisition of producing assets in Hardin County with development upside.

Known as the Minns asset package, the Waller County project contains a multi-well production package located in the Brookshire Field. According to a reserve report conducted this year, the proved developed producing reserves for the project include over 8,500 barrels of oil.

FTTN plans to explore numerous assets in the region as part of its mission to build up a competitive portfolio of Texas oil and gas prospects.

The company's ultimate ambitions stretch beyond Texas, however. Currently, the company owns a working interest in producing assets in Alabama and is working to facilitate oil and gas production in Oklahoma and Louisiana. FTTN expects 2013 to be a year of major growth for its business, including expansion into international markets. As a result, the company hopes to announce many new acquisitions in the coming months.

FTTN is a fast-growing oil and gas company dedicated to continuing development of energy assets throughout the country, 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 Texas


The article FTTN Works to Increase Oil and Gas Holdings in Booming Texas Market originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Originally published