New Wave of Mergers and Acquisitions to Fuel FTTN’s Value-Based Equipment Strategy
The midstream oil and gas sector is preparing for a coming wave of
industry-wide mergers and acquisitions that could put a significant
amount of valuable equipment on the market for sale at tremendous
discount. This scenario is exactly what First
Titan Corp. (OTCQB:FTTN) has been
planning for with its value-based acquisition strategy that aims to
refurbish and resell or lease the equipment to operators when the
economic situation improves.
According to industry watchers, more than $150
billion worth of assets have been liquidated globally across the oil
and gas business this year alone. Many of the deals have been happening
with lightning speed. “If you wait for a deal to come to you, it’s
already too late,” one prominent equity executive told a Wall Street
“A unique, once-in-a-generation situation is rapidly unfolding,” said
FTTN CEO Sydney Jim. “And FTTN is in an optimum position to take
advantage of this great opportunity. Something like this – the chance to
grab valuable assets and equipment for pennies on the dollar – doesn’t
come along often. This validates our plan. Companies with the foresight
to act now will be sitting pretty when oil and gas rebounds. The deals
are out there and we’re going to aggressively pursue every opportunity
In addition to equipment, FTTN continues to look for value-based
properties and leases.
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
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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/20151222005198/en/
Copyright Business Wire 2015
Source: Business Wire
(December 22, 2015 - 5:00 AM EST)
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