Today, First Titan
reported that its South Lake Charles, Louisiana asset is entering its final
stages of testing before going online for initial production. It is expected
that this well has the potential for producing four million barrels of oil and 60
billion cubic feet of gas.
The operator of the
well is currently perforating the well for testing its production potential. A
few steps have been completed, and the well is scheduled to be up-and-running
within the coming weeks.
“After we perforate
the well, we will know how good a well we have,” First Titan Interim CEO Robert
Federowicz said. “Based on the evaluation of the operator, we are extremely
optimistic this is going to be a strong producing well with the possibility of
being our best producing asset.”
First Titan is
working to build up a robust portfolio of diverse oil and gas holdings and has
committed itself to the continuing development of energy assets throughout
North America.
More information
about First Titan can be found at: www.firsttitanenergy.com/investors.html
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