By Business Wire, October 28, 2013, 06:00:00 AM EDT
BRADENTON, Fla.--(BUSINESS WIRE)--
As First Titan Corp. (OTCBB:FTTN) continues building its oil and gas
portfolio, the company is excited about the production coming from its
oil well in Alabama and the potential future revenues it may provide.
FTTN's producing well in the Little Cedar Creek Field in Alabama is
producing approximately 370 barrels of oil and 240,000 cubic feet of gas
per day. Midway through October, the well has produced nearly 5,500
gallons of oil and 4,000,000 cubic feet of gas.
The well, located in Brooklyn Field, the state's most prolific field,
currently has a flowing tubing pressure of just over 400 pounds per
square inch on 16/64ths choke.
"We are extremely pleased with the production from the latest Alabama
well," FTTN Interim CEO Robert Federowicz said. "This well was recently
reworked and has responded more favorably than we originally expected."
FTTN, an oil and gas energy company seeking continued growth of a
diversified oil and gas portfolio, possesses some of the best plays in
Alabama, Louisiana, Oklahoma and Texas.
First Titan Corp. is building a substantial collection of oil and gas
properties and is dedicated to the continuing development of energy
assets throughout North America alongside companies such as Continental
Resources, Inc. (NYSE: CLR), Chesapeake Energy Corp. (NYSE: CHK),
SandRidge Energy Inc. (NYSE: SD) and Ultra Petroleum Corp. (NYSE: UPL).
For more information on FTTN's oil and gas projects, please visit www.firsttitanenergy.com/investors.html.
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.
Source: First Titan Corp.