Natural Gas Production Forecast Good News for FTTN
January 15 2014 - 5:00AM
Business Wire
With First Titan Corp. (OTCBB:FTTN) continuing to investigate
all avenues to add to its growing oil and gas portfolio,
forecasters are predicting domestic natural gas production to boom,
increasing the probability of significant return on investment from
the Company’s assets in that sector.
The Department of Energy predicts natural gas to be the largest
source of U.S. electricity by 2035, and for production to jump 56
percent by 2040. Of more immediate relevancy, the DOE’s Energy
Information Administration reports that because of the increased
use of horizontal drilling and hydraulic fracturing or fracking,
natural gas production and prices are going to reach new highs in
2014.
The Natural Gas Production Outlook 2013-2014 reports that
natural gas production will grow from 65.7 billion cubic feet per
day last year to 69.1 Bcf/d by the end of 2014. These estimates
suggest large potential gains for FTTN’s current and future natural
gas assets.
“The revenue potential of natural gas has First Titan very
excited about our existing assets and also potential acquisitions
we are currently doing due diligence on,” FTTN Interim CEO Robert
Federowicz said.
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 Lucas Energy, Inc.
(NYSE: LEI), Earthstone Energy, Inc. (NYSE: ESTE),
Fieldpoint Petroleum Corp. (NYSE: FPP) and Evolution Petroleum
Corp. (NYSE: EPM).
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