First Titan Corp. (OTCBB:FTTN) is intently watching several key market indicators and trends that may foreshadow a surge of oil & gas industry mergers – mergers that could provide opportunities to grab revenue-producing assets others must shed to fund consolidations.
A number of energy analysts have said several oil & gas companies could be potential takeover targets in the current climate. While crude prices have lately improved, companies with heavy debt and high costs are still looking to shed assets to bolster their bottom lines or even further, to consolidate with competitors to improve their positions, which also leads to asset sales to pay the costs of a merger. The recent decision of one North Dakota shale producer to put itself up for sale has industry watchers speculating the market will soon see a rash of takeovers.
“The industry is rife with merger talk,” said FTTN CEO Sydney Jim. “While no big deals have yet been announced, this could be the quiet before the storm, so to speak. Should this anticipated megamerger wave finally break, FTTN is in a prime position to take advantage of any opportunities that arise. Our strategic goal is to acquire revenue-producing assets other companies have to shed at bargain-basement prices. This will enable us to build a robust portfolio that will benefit our company and its investors.”
For more information on FTTN’s oil and gas 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