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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