First Titan Corp. (FTTN)
President and CEO Sydney Jim issued the following open letter to
Despite the challenges of today’s low-price environment, our Company
made tremendous strides in 2015. We’re confident the forward-looking
strategy we’ve put into place will ensure 2016 meets and surpasses our
success over the past 12 months.
Value-Based Acquisitions Lead the Way. As the price of oil
continued to sink, FTTN saw opportunity amidst chaos – the chance to buy
promising properties at substantial discount. Oil and gas companies are
divesting valuable assets to stay in business. Needing to sell quickly,
they’ve put up properties otherwise unobtainable in better market
FTTN has identified several intriguing assets and signed letters of
intent on properties in the Cline and Barnett Shales. These efforts
should lead to a growing portfolio that build revenues and increase
No one can predict the price of a volatile commodity with certainty.
However, indicators show growing fractures inside the Organization of
Petroleum Producing Countries, which has flooded markets to drive
American shale producers out of business. These indicators show
weakening resolve within OPEC, a change that could led to tightening oil
markets and rising prices - good news for companies like ours.
FTTN expands its interests. In 2015, the Company made advances in
two additional markets: Enhanced Oil Recovery (EOR) and oilfield
services. In EOR, our due diligence suggests a strong opportunity for
companies in developing and marketing technology to extract more oil
from mature or declining fields. FTTN is considering entering the EOR
field based on these findings and is now looking for suitable entry
points into the sector.
The oilfield services sector, much like production, is seeing surging
asset and equipment sales as companies divest to stay in business. We
see a solid market for used equipment, particularly in midstream. With
current conditions, companies can buy prime used equipment at
substantial discount, refurbish it and then lease or sell it to oil and
gas companies for profit. FTTN is now exploring future oilfield services
We’ll continue our forward-looking business strategy to acquire
value-based oil and gas leases, to explore new opportunities in
additional markets and to build sustainable revenue streams in the
It’s a simple-sounding plan, however we believe simplicity is the surest
road to success in a complex, often challenging industry.
In closing, thank you for your support and faith in the Company and its
plan. This past year was one of tremendous progress and 2016 holds even
brighter things ahead. The best is yet to come.
Sydney Jim — President and CEO, First Titan Corp.
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/20160111005543/en/
Copyright Business Wire 2016