CORRECTING and REPLACING FTTN Views Increasing Number of Oilfield Asset Sales as Chance to Build Business
Headline of release should read: FTTN Views Increasing Number of
Oilfield Asset Sales as Chance to Build Business (instead of FFTN Views
Increasing Number of Oilfield Asset Sales as Chance to Build Business).
The corrected release reads:
FTTN VIEWS INCREASING NUMBER OF OILFIELD ASSET SALES AS CHANCE TO
The oil & gas industry experienced two recent shockwaves that some may
think heralds continued bad times ahead, but that First Titan Corp.
(OTCQB: FTTN) believes portends great opportunity.
First, a struggling service company sold
its assets for mere pennies on the dollar to a rival, and next, a
noted industry giant reported
fourth-quarter losses of $1 billion, a result that might mean it too
will soon be disposing assets at a steep discount.
FTTN has put together an aggressive strategic business plan designed to
help it prosper in the current rough economic period resulting from
falling crude oil prices. This plan calls for identifying, qualifying
and buying valuable production
assets from motivated sellers and then refurbishing them to either
sell in better market conditions or to build a broad portfolio to
generate consistent revenues.
“We have great empathy for those companies having difficulty during this
ongoing crude oil price drop,” said FTTN CEO Sydney Jim. “A lot of good,
hard-working people are suffering. However, this isn’t the time to pull
back, be timid and wait. It’s time to be smart, hungry and aggressive …
to build for the future when
the price does recover. This is the time when the foundation is laid
for success in
the next boom. And we intend to be successful.”
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160203005899/en/
Copyright Business Wire 2016
Source: Business Wire
(February 3, 2016 - 9:12 AM EST)
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