FTTN releases positive new production report
Friday, Jan 25, 2013
As the growing energy company continues its efforts to add to its portfolio of U.S. oil and gas assets, First Titan Corp. (OTCBB: FTTN) paused on Tuesday to review the production report from its well in Alabama’s Little Cedar Creek Field.
According to the latest data, the well is currently producing 223 barrels of oil and 220 thousand cubic feet of gas daily with no water. Reserve estimates range from 400,000 to 800,000 barrels of oil.
The report is right in line with the Company’s expectations. The Alabama well has been a consistent producer for FTTN as it works to add more solid domestic oil and gas production to its asset base.
The Little Cedar Creek Field project is the cornerstone of a budding energy empire being built by FTTN. Located in Conecuh County, Ala., it is the first producing well in which the Company owns a working interest. Current reserve estimates range from 400,000 to 800,000 barrels of oil.
The Alabama well is only one of several working interest positions in prospective wells that FTTN has purchased in the last year. Next on the list of interests to begin drilling is another Louisiana prospect located 7 miles south of the city of Lake Charles in Calcasieu Parish, La. The Company is also pursuing drilling opportunities in West Texas’ Permian Basin.
For more information on FTTN’s oil and gas projects, please visit www.firsttitanenergy.com/investors.
First Titan is working to develop new energy solutions to compete in a booming global industry alongside Chesapeake Energy Corp. (NYSE: CHK), Anadarko Petroleum Corp. (NYSE: APC), SandRidge Energy Inc. (NYSE: SD) and Apache Corp. (NYSE: APA).
Source: Business Wire
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