FTTN Evaluating Potential New Assets in Kansas
November 21 2013 - 07:16AM
Business Wire
With First Titan Corp. (OTCBB: FTTN) enjoying a successful year
of adding assets to its growing oil and gas energy portfolio, the
company is evaluating a new acquisition target in Kansas.
The Trego County Project in Kansas features several thousand
acres that are mostly covered by 3-D seismic. Given the prevailing
regional well spacing, the project has 60 potential vertical well
locations, and based on 3-D seismic data available, several
drill-ready prospects are identified.
“Trego County is an intriguing opportunity for First Titan,”
FTTN Interim CEO Robert Federowicz said. “The field is teeming with
production potential and fits with the other low-risk, high-reward
acquisitions we have made this year.”
FTTN is an oil and gas energy company seeking continued growth
of a diversified oil and gas portfolio. The company possesses some
of the best plays in Alabama, Louisiana, Oklahoma and Texas,
including the South Lake Charles Prospect, where the FTTN well is
being drilled to a target depth of 15,300 feet. Initial reserve
estimates for the well were that approximately 60 billion cubic
feet of gas and 4 million barrels of oil could be extracted.
First Titan Corp. is building a substantial collection of oil
and gas properties and is dedicated to the continuing development
of energy assets throughout North America alongside companies such
as Continental Resources, Inc. (NYSE: CLR), Chesapeake Energy
Corp. (NYSE: CHK), SandRidge Energy Inc. (NYSE: SD) and
Ultra Petroleum Corp. (NYSE: 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.
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 CorporationRobert
Federowicz, 941-753-4889Interim CEOinfo@firsttitancorp.com