First Titan Corp.
announced today that it is confident that the report from the operator of its
interest in a well in Oklahoma, and after completing initial test production,
possesses the potential to meet its initial production projections.
FTTN’s interest in
the Breaux #2, an oil and natural gas well in Logan County, Oklahoma, has
completed pre-production. Operator, Bedford Energy Inc., successfully
stimulated the down-hole location it was looking to activate. Equally
encouraging are early projections for the Breaux #2. The company believes oil
production can reach 15-20 barrels per day, and 500-700 cubic feet of natural
gas (mcf) per day in the next phase of production.
In First Titan’s
initial involvement with the Breaux #2 well, Bedford Energy identified the well
to contain petroleum engineered proven reserves of 160,000 bbls of oil and 1.5
million mcf of natural gas, estimating production potential at more than $14
million worth of resources.
“The production
numbers for the well in Oklahoma are on point with expectations for its current
stage of development,” FTTN Interim CEO Robert Federowicz said. “Based on the
reports from our operators, we believe the well has the capacity to meet
initial production projections.”
Possessing some of
the best plays in Alabama, Louisiana, Oklahoma, and Texas, FTTN is an oil and
gas energy company seeking continued growth of a diversified portfolio in oil
and gas. The company is currently exploring additional acquisition targets.
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.
For more information
about the company visit www.firsttitanenergy.com
About QualityStocks
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to find, evaluate, and learn more about investing in these companies.
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to find, evaluate, and learn more about investing in these companies.
Sign up for “The QualityStocks Daily Newsletter” at www.QualityStocks.net
The Quality Stocks Daily Blog http://blog.qualitystocks.net
The Quality Stocks Daily Videos http://videocharts.qualitystocks.net
The Quality Stocks “Ones to Watch” http://gotstocks.qualitystocks.net
Please see disclaimer on the QualityStocks website: http://disclaimer.qualitystocks.net
No comments:
Post a Comment