First Titan Corp. (OTCBB: FTTN) is evaluating the profit potential of expanding its reach north of the border as the company continues its efforts to add to its growing oil and gas energy portfolio.
A recent report by Canada’s National Energy Board forecasts the country’s oil production to rise by nearly 75 percent to almost 6 million barrels per day by 2035. According to rigzone.com, Western Canada Select, the country’s benchmark heavy crude blend, traded as low as $41.50 per barrel below West Texas Intermediate earlier this month, and traded on an average of $19 per barrel below WTI throughout 2011 and 2012.
FTTN, which has a strong footprint of oil and gas energy assets in the United States, including projects in Texas, Oklahoma, Louisiana and Alabama, is strongly considering the opportunities presented by future acquisitions in Canada.
“We are always looking for financially viable plays, whether it is in the U.S. or north of the border,” FTTN Interim CEO Robert Federowicz said. “Canadian oil production has just reached the surface and possesses the possibility for impressive future gains that cannot be ignored.”
First Titan Corp. is building a substantial collection of oil and natural 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.
Robert Federowicz, 941-753-4889