First Titan Corp., a company engaged in the exploration and development of oil and natural gas resources around the world, today said it is exploring several potential acquisition opportunities that would expand its oil and gas portfolio and generate shareholder value.
The company continually seeks partnerships with energy developers that are pursuing new methods of oil and gas extraction, including the development of new technologies, cleaner methods, and unconventional resources. In line with this strategy, FTTN’s management team is considering strategic transactions that have the potential to serve as “an attractive avenue” to continue company growth and benefit the FTTN shareholders.
FTTN said that within the next 30 days it anticipates making an offer to acquire one or more of these potential oil and gas targets located in Texas, Oklahoma, Louisiana, and Alabama, which are within the same geographic area as FTTN’s current operations.
As is standard, FTTN notes that any offers will be made contingent to completion of due diligence and required approvals from the target companies, among other conditions.
In addition, the company today said that it remains on track with its South Lake Charles Prospect in Louisiana, and that the company remains optimistic on the potential production from the well underway. Initial reserve estimates for the South Lake Charles well are approximated at 60 billion cubic feet of gas and 4 million barrels of oil.
For more information, visit www.firsttitanenergy.com
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