Following a brief stoppage for repairs, a well within a Texas-based
asset of First Titan Corp. (OTCBB: FTTN) is expected to return to
production next month, the Company announced today.
The Minns #4, part of FTTN’s multi-well asset package located in the
Brookshire Field in Waller County, Texas, is set to produce once more in
the oil rich Lone Star State after standard maintenance. Texas oil
production grew 21 percent last year to more than 857 million barrels
thanks to rising demand and new drilling technology. With all wells of
the Minns package back online and producing, and the Company looking to
further expand its well count in Texas, FTTN is working to capitalize on
the state’s oil industry success.
“We expect the Minns wells to produce at full capacity now,” FTTN
Interim CEO Robert Federowicz said. “The oil production numbers in Texas
are staggering, and First Titan is excited to see the potential the
Minns wells possess.”
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.
Copyright Business Wire 2014