A new report shows global oil demand will grow by over one million barrels a day in 2014, further increasing the value of assets owned by oil and gas energy company First Titan Corp. (OTCBB: FTTN).
The International Energy Agency said Tuesday in its monthly report that global oil demand will grow by 1.3 million barrels a day this year, reaching 92.5 million barrels a day. This demand significantly impacts oil’s value as crude inventories have dropped 41.2 million barrels over the last seven weeks, according to a Citi Futures analyst.
With oil holdings in Alabama, Louisiana, Oklahoma and Texas, FTTN is in position to capitalize on the current, and future, oil demand. The Company, which has also acquired multiple working interests with established oil exploration companies to deliver new oil and gas resources to the markets, is also evaluating new projects to add to its portfolio, further positioning itself to be a major player in the sector.
FTTN is an oil and gas energy company seeking continued growth of a diversified oil and gas portfolio. It 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 Lucas Energy, Inc. (NYSE: LEI), Earthstone Energy, Inc. (NYSE: ESTE), Fieldpoint Petroleum Corp. (NYSE: FPP) and Evolution Petroleum Corp. (NYSE: EPM).
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, 850-269-7267