First Titan Corp. (OTCBB: FTTN) is keeping close tabs on the oil & gas sector, particularly the industry’s major players, in anticipation of snapping up properties for sale at greatly discounted prices then turning those acquisitions into long-term, revenue-producing assets.
As crude prices rebound following last year’s sudden downturn, some industry watchers are predicting oil & gas megamergers will be the next energy trend as the biggest players consolidate in order to grow.
“As prices slowly rise, oil & gas companies will now start to favor growth over safety,” said FTTN CEO Sidney Jim. “One way to grow is through mergers. When companies merge, they often shed assets to pay for consolidation. Smaller, nimble companies like FTTN with the ability to move quickly can take advantage of that environment.”
The oil & gas industry has seen many periods such as this in the past. Mr. Jim said the companies that survive these industry shakedowns are the ones who make connections, do their due diligence and stay focused on a sustainable plan for growth.
“We have a definite plan in place to grow revenues as the industry rebounds,” Mr. Jim said. “One key component is making smart acquisitions. Our long-range plan is coming into focus. We have the resources to make great strides in this current environment, but we want to ensure that any acquisitions we make fit our plan and will lead to sustainable revenues and profits in the future.”
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