FTTN Actively Seeking Acquisition Opportunities as Business Plan Shifts into High Gear
As the calendar year 2015 winds down, First
Titan Corp. (OTCQB:FTTN) is ramping up
its aggressive oil and gas acquisition plans on the heels of its letter
of intent (LOI) signing for a property
in northwest Texas.
“FTTN is in a strong position to go after a variety of promising
prospects,” said company CEO Sydney Jim. “We can now begin putting our
long-range plan into action. One of the primary components of that
strategy is to use the current low oil price environment to acquire
properties and leases at a deep discount in order to build a diverse
revenue-producing portfolio. Thanks to the economic situation, there are
a lot of companies wanting to (or having to) sell valuable assets
quickly. It’s a buyer’s market and we can deal from a position of
FTTN’s recent LOI is for a property in the Barnett
Shale region of Texas. Mr. Jim said the company will concentrate on
other leases in that area, as well as in the Cline
Shale, where FTTN signed an LOI earlier
Other areas of interest FTTN could investigate include the prolific Bakken
Shale region of the north central United States, primarily in North
Dakota, and Mexico,
which has recently opened its oil and gas sector to outside investment.
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/20151216005299/en/
Copyright Business Wire 2015
Source: Business Wire
(December 16, 2015 - 5:00 AM EST)
News by QuoteMedia