Many of today’s mainstream headlines talk about the effect of low prices
on the oil industry. However, scratch below the surface and dig a little
deeper into the news, and there are many indications the oil and gas
market is about to pivot in a completely new direction, a welcome change
in course First Titan Corp. (OTCQB: FTTN)
has been anticipating and preparing for.
Industry talk has been quietly gathering momentum about a coming oil
price spike. More and more analysts are saying OPEC (the Organization of
Petroleum Exporting Countries) can no
longer sustain its ongoing price war and that member nations have
begun feuding
amongst themselves. In addition, an increasing industry watchers are
forecasting a coming rise in crude prices – ranging from $80
a barrel next year to as high as $130
by 2017.
“The net result of all this news is that the Enhanced Oil Recovery (EOR)
market could soon get a strong boost,” said FTTN CEO Sydney Jim. “If and
when prices rise, that will make EOR a much more attractive option for
bringing declining fields back to productive life. And as EOR offers a
quicker payoff than wildcat drilling, we expect a dramatic upturn in
activity as soon as a recovery takes hold. If our plans bear out, we
will be entering this promising market at the most opportune time, ready
to take advantage of the upswing.”
A recently released report has forecasted the EOR market to
grow at a robust 16.9 percent rate between now and 2019.
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/20151124005564/en/
Copyright Business Wire 2015
Source: Business Wire
(November 24, 2015 - 7:44 AM EST)
News by QuoteMedia
www.quotemedia.com
