FTTN: Alabama Well Exceeding Early Production Estimates
March 03 2014 - 5:00AM
Business Wire
First Titan Corp. (OTCBB: FTTN) announced today that production
numbers from the Alabama well the Company owns an interest in is
exceeding expectations and is expected to match or surpass
pre-production projections.
FTTN’s producing well in the Little Cedar Creek Field in
Alabama, is pumping approximately 343 barrels of oil and 58,000
cubic feet of gas per day. Located in Conecuh County’s Brooklyn
Field, initial well estimates were for 400,000 to 800,000 barrels
of oil to be extracted.
“Production at the Alabama well is on schedule and is quite
promising at this point of extraction,” FTTN Interim CEO Robert
Federowicz said. “We have full confidence the final production
numbers will land within the initial well estimates, if not exceed
them.”
FTTN, an oil and gas energy company seeking continued growth of
a diversified oil and gas portfolio, possesses some of the best
plays in Alabama, Louisiana, Oklahoma and Texas and is currently
exploring additional acquisition targets.
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, 850-269-7267Interim CEOinfo@firsttitancorp.com