FTTN Targets Undervalued Oil & Gas Acquisition Opportunities as Energy Prices Remain Low
March 11 2015 - 5:00AM
Business Wire
As the global market for oil and gas remains depressed, First
Titan Corp. (OTCBB:FTTN) is seizing the opportunity to target and
acquire undervalued and distressed energy assets well-positioned to
increase dramatically in value once oil and gas prices rise
again.
With oil currently trading at nearly half the price that it was
when the U.S. boom was at its peak, domestic drilling and
exploration has slowed down heavily, with the U.S. rig count
dropping to its lowest level in five years. Many oil and gas
companies are feeling the pinch, looking to sell off assets and
equipment to offset projected losses.
Those same assets could pay off handsomely for FTTN and its
investors when oil and gas prices rise, said company CEO Sydney
Jim.
“There are now half-completed wells all over the country that
won’t stay dormant forever,” Mr. Jim said. “Now is the time to pick
up these assets at a big discount and build up our U.S. portfolio
in preparation for the next upswing in the market.”
FTTN 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.
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 CorporationSydney Jim, 850-269-7267President
and CEOinfo@firsttitanenergy.com