LAS VEGAS–(BUSINESS WIRE)–The oil & gas industry experienced two recent shockwaves that some may think heralds continued bad times ahead, but that First Titan Corp. (OTCQB: FTTN) believes portends great opportunity.
First, a struggling service company sold its assets for mere pennies on the dollar to a rival, and next, a noted industry giant reported fourth-quarter losses of $1 billion, a result that might mean it too will soon be disposing assets at a steep discount.
FTTN has put together an aggressive strategic business plan designed to help it prosper in the current rough economic period resulting from falling crude oil prices. This plan calls for identifying, qualifying and buying valuable production and service assets from motivated sellers and then refurbishing them to either sell in better market conditions or to build a broad portfolio to generate consistent revenues.
“We have great empathy for those companies having difficulty during this ongoing crude oil price drop,” said FTTN CEO Sydney Jim. “A lot of good, hard-working people are suffering. However, this isn’t the time to pull back, be timid and wait. It’s time to be smart, hungry and aggressive … to build for the future when the price does recover. This is the time when the foundation is laid for success in the next boom. And we intend to be successful.”
FTTN is building a competitive portfolio of oil and gas properties alongside companies such as Lucas Energy, Inc. (LEI), Earthstone Energy, Inc. (ESTE), Fieldpoint Petroleum Corp. (FPP) and Evolution Petroleum Corp. (EPM).
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.
