First Titan Corp.
announced today that the production numbers from an Alabama well it owns
interest in is exceeding expectations and is expected to match or surpass
pre-production projections.
The company’s
producing well in the Little Cedar Creek Field in Alabama is pumping
approximately 343 barrels of oil and 58,000 cubic feet of gas per day. Earlier
estimates for the Conecuh County Brooklyn Field were for 400,000 to 800,000
barrels of oil to be extracted.
“Production at the
Alabama well is on schedule and is quite promising at this point of
extraction,” FTTN Interim CEO Robert Federowicz said. “We have full confidence
the final production numbers will land within the initial well estimates, if
not exceed them.”
FTTN, an oil and gas
energy company seeking continued growth of a diversified oil and gas portfolio,
possesses some of the best plays in Alabama, Louisiana, Oklahoma and Texas, and
it is currently exploring additional acquisitions.
First Titan Corp. is
compiling a noteworthy collection of oil and gas properties and is dedicated to
the continuing development of energy assets throughout North America along with
companies such as Chesapeake Energy Corp. (NYSE: CHK), Continental Resources,
Inc. (NYSE: CLR), Ultra Petroleum Corp. (NYSE: UPL) and SandRidge Energy Inc.
(NYSE: SD).
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 continues to pursue partnerships with energy developers that
are studying 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
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