First Titan Corp. (OTCBB: FTTN) actively sought new energy investments and assets while at the Offshore Technology Conference (OTC) in Houston, the premier gathering of oil and gas industry decision-makers and players in the world. The Company’s primary focus continues to be to identify and pursue undervalued and distressed energy assets other companies have been forced to put on the market to cut costs following the recent downturn in oil prices.
“The OTC offered the best single opportunity to meet directly with companies feeling the pinch of depressed crude oil prices,” said FTTN CEO Sydney Jim. “Many oil and gas producers and investors were caught by surprise by the price downturn and are being forced to move quickly to slash their budgets and overhead to remain competitive. This, in turn, creates not-often-seen strategic opportunities for visionary companies like ours who can use this market situation to position themselves for a windfall when the price of oil recovers.”
Since June 2014, the benchmark price of West Texas Intermediate crude oil has fallen dramatically – from just under $100 a barrel eleven months ago to roughly $60 today. As a result of the drop, oil and gas companies have been cutting exploration budgets, laying off workers and selling assets to stay afloat until a potential recovery.
With the downturn, the mood at the OTC (held annually in Houston since 1969) has been somber. Attendance has regularly topped 50,000 in recent years, with conference-goers from more than 2,000 companies and 110 countries patrolling the convention aisles.
For more information on FTTN’s current 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 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.
Sydney Jim, 850-269-7267
President and CEO