FTTN Secures Substantial Acreage and Begins Pre-Drill Planning
July 22 2014 - 8:09AM
Business Wire
First Titan Corp. (OTCBB: FTTN) announced today a significant
increase in the Company’s net leased acreage and the commencement
of pre-drill planning on its Mustang Project located in East
Central Texas.
FTTN’s operator notified the company that 1,000 acres have been
leased in the Mustang Project area, which spans nine counties of
the Lone Star State. FTTN acquired a 25 percent working interest in
the Mustang Project in March; the area has proven productive from
various oil and gas formations, namely the Austin Chalk, Buda,
Georgetown and Bossier. FTTN’s operator notified the Company that a
drilling permit will be filed with the Texas Railroad Commission
within the next 60 days. Drilling is expected to commence within
the next 120 days.
“We are excited by the news and look forward to spudding the
well,” FTTN CEO G. Jonathan Pina said. “This project represents a
push toward taking larger positions in areas that have the
potential to change the trajectory of the Company. The Company
plans to commence drilling and we plan to continue to participate
in the active leasing program being undertaken by our
operator.”
First Titan Corp. owns interests in wells located in Alabama,
Oklahoma, Texas and Louisiana. The Company is building an asset
base of oil and gas properties and is dedicated to the continued
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 CorporationG. Jonathan
Pina, 850-269-7267President and
CEOinfo@firsttitanenergy.com