FTTN: Increased Demand Drives Oil Futures Forecast
January 23 2014 - 5:00AM
Business Wire
A new report shows global oil demand will grow by over one
million barrels a day in 2014, further increasing the value of
assets owned by oil and gas energy company First Titan Corp.
(OTCBB: FTTN).
The International Energy Agency said Tuesday in its monthly
report that global oil demand will grow by 1.3 million barrels a
day this year, reaching 92.5 million barrels a day. This demand
significantly impacts oil’s value as crude inventories have dropped
41.2 million barrels over the last seven weeks, according to a Citi
Futures analyst.
With oil holdings in Alabama, Louisiana, Oklahoma and Texas,
FTTN is in position to capitalize on the current, and future, oil
demand. The Company, which has also acquired multiple working
interests with established oil exploration companies to deliver new
oil and gas resources to the markets, is also evaluating new
projects to add to its portfolio, further positioning itself to be
a major player in the sector.
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