FTTN Targeting Asset Base Expansion North of Border
November 26 2013 - 5:00AM
Business Wire
First Titan Corp. (OTCBB: FTTN) is evaluating the profit
potential of expanding its reach north of the border as the company
continues its efforts to add to its growing oil and gas energy
portfolio.
A recent report by Canada’s National Energy Board forecasts the
country’s oil production to rise by nearly 75 percent to almost 6
million barrels per day by 2035. According to rigzone.com, Western
Canada Select, the country’s benchmark heavy crude blend, traded as
low as $41.50 per barrel below West Texas Intermediate earlier this
month, and traded on an average of $19 per barrel below WTI
throughout 2011 and 2012.
FTTN, which has a strong footprint of oil and gas energy assets
in the United States, including projects in Texas, Oklahoma,
Louisiana and Alabama, is strongly considering the opportunities
presented by future acquisitions in Canada.
“We are always looking for financially viable plays, whether it
is in the U.S. or north of the border,” FTTN Interim CEO Robert
Federowicz said. “Canadian oil production has just reached the
surface and possesses the possibility for impressive future gains
that cannot be ignored.”
First Titan Corp. is building a substantial collection of oil
and natural 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