First
Titan Corp. (OTCQB:FTTN) continues its search
for value-based oil and gas assets and one area that is drawing its
interest is the Permian Basin of western Texas and eastern New Mexico.
The company is compiling lists of potential acquisition prospects and
this area, more than any other, holds the most promise during this era
of low oil prices.
“The Permian Basin offers a lot of benefits other oil and gas plays
simply don’t have,” said FTTN Sydney Jim. “As a developed area, there’s
plenty of existing infrastructure to support production. This lowers
costs and that’s crucial in this environment. Also, this is one of the
most-prolific onshore basins in the country. It’s reliable and not going
anywhere. So these factors make it an attractive target for our ongoing
asset acquisition search. But we’re still looking at other areas, like
the Bakken, Barnett,
Eagle Ford and Cline
shales, of course. We want to make sure we conduct a thorough due
diligence.”
FTTN expects
a wave of consolidation to soon start rolling across the oil and gas
industry, unleashing a torrent of assets the company can acquire at
value prices unimaginable in other economic climates. FTTN intends to
take advantage of a rare buying opportunity while overextended companies slash
their capital budgets to ride out the downturn.
FTTN is building a competitive portfolio of oil and gas properties
alongside companies such as Lucas Energy, Inc. (LEI),
Earthstone Energy, Inc. (ESTE),
Fieldpoint Petroleum Corp. (FPP)
and Evolution Petroleum Corp. (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.
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