Today before the
opening bell, First Titan announced the release of a letter to shareholders by
its Interim CEO, Robert Federowicz. The letter discusses the gains First Titan
made in 2013 as well as company objectives and milestones the company is aiming
for in 2014.
“We are extremely
pleased with the progress First Titan made in 2013 and how we were able to
build our asset base with key acquisitions,” Federowicz said. “We believe the
gains made in 2013 will set the foundation for what has the potential to be an
even more prosperous 2014. We are already aggressively pursuing new
acquisitions while our current assets continue to produce return on
investment.”
Among other content,
the letter discusses:
• A recount of First Titan’s
acquisition strategy and how it added assets in Louisiana and Texas in 2013
• Updates on current First Titan assets
and their production rates, including First Titan’s asset holding in Alabama
• A discussion of the company’s 2014
goals for building its asset portfolio as well as looking for new business
opportunities
Just recently the US
Department of Energy predicted a strong continuing increase in daily domestic
oil production and the Energy Information Administration estimated a jump in
crude oil output, encouraging indicators for First Titan in 2014.
Mr. Federowicz’s
letter can be found at:
http://www.firsttitanenergy.com/assets/pdf/2014-Letter.pdf
For more
information, visit www.firsttitanenergy.com
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