Permits, Financing Now in Place for FTTN’s South Lake Charles Well
First Titan Corp. (OTCBB: FTTN) announced today that funding and permits
are now in place for its lease near South Lake Charles, La. The Company
expects to begin building out the drilling location this month.
The South Lake Charles prospect is one of two working interests that
FTTN owns in Louisiana, one of the nation’s top energy producing states.
Two wells have produced 21.3 billion cubic feet of gas and 1.7 million
barrels of oil in the South Lake Charles field. There is a proved
trapping fault block on the west flank of the field, up-dip to
Highly promising reserve estimates for the lease have FTTN expecting an
extremely successful 2013 for the Company and its shareholders.
“We’re looking forward to drilling three to five wells total on this and
surrounding leases,” said FTTN CEO Harvey Bryant. “We’re very optimistic
about future production at this site.”
First Titan is working to develop new energy solutions to compete in a
booming global industry alongside Occidental Petroleum Corp.
(NYSE: OXY), Anadarko Petroleum Corp. (NYSE: APC), Energen Corp.
(NYSE: EGN) and Apache Corp. (NYSE: APA).
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.
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
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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.