FTTN Reworking Asset for Maximum Production
December 11 2013 - 5:00AM
Business Wire
First Titan Corp. (OTCBB: FTTN) is reworking one of its Texas
oil wells to maximize production and revenue as the company
continues its aggressive acquisition and development strategy for
the year.
A well in FTTN’s Minns asset package in Waller County (Texas) is
being pulled to address a hole in the tubing and return the well to
previous production rates. The asset, located in the Brookshire
Field, has a proven track record as it has been determined to
contain over 8,500 barrels of oil and has produced for several
decades. It is scheduled to be back online within two weeks.
“This asset has tremendous upside, and these repairs are an
expected part of a producing well,” FTTN Interim CEO Robert
Federowicz said. “We are excited about the potential of Minns No. 3
and look to being back online after a brief stop for standard
maintenance.”
FTTN is an oil and gas energy company seeking continued growth
of a diversified oil and gas portfolio. It 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, 850-269-7267Interim CEOinfo@firsttitancorp.com