FTTN signs LOI to acquire West Texas field mineral rights

Citing optimum buying conditions, First Titan Corp. (OTCBB:FTTN) has signed a letter of intent (LOI) to obtain mineral rights for an oil field in the West Texas Cline shale region.

FTTN will now conduct due diligence of the field and its future production prospects, with an eye toward adding it to its portfolio. The Cline shale region is located to the north/northeast of Midland, Texas, and is part of the larger Permian Basin formation.

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