After months of due diligence, First Titan Corp. is extremely close to acquiring a working interest in an area of immense production potential in Southeast Texas.
The targeted acquisition is located in Hardin County, Texas, and includes several wells located on over 4,100 leased acres. It possesses potential production from one zone that could potentially be across several wells and drastically increase production in the short term with relatively minimal capital. The zone, which was penetrated and produced in one identified wellbore was prematurely shut-in due to sand incursion. But given current advances in technology, FTTN believes the productive interval can be returned to its previous production rate of over 100 barrels a day.
“We’re excited by the prospect of securing such a large position,” stated FTTN CEO Harvey S. Bryant. “An acquisition like this will drastically change the outlook for the company and provide a great catalyst for continued growth.”
FTTN has assembled an impressive portfolio of projects featuring some of the best plays in Alabama, Louisiana, Oklahoma, and Texas. Drilling is currently ongoing at one of FTTN’s assets in Louisiana, the South Lake Charles Prospect.
For more information on First Titan, please visit www.firsttitanenergy.com/investors.html
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