FTTN finalizes joint operating agreement for promising new oil well

Source: First Titan Corp.

First Titan Corp. (OTCBB: FTTN.OB) finalized a joint operating agreement today placing Intrepid Drilling, LLC, in charge of drilling and operating a new oil and gas well at the South Lake Charles Prospect in Calcasieu, La.
In a major milestone for the new company, FTTN acquired a significant working interest in the new well last week. Intrepid Drilling owns rights to all depths in 453 contiguous acres at the prospect. Plans call for the company to drill to a total depth of 15,300 ft at the project location.

FTTN is extremely optimistic about the new well’s incredible potential. Intrepid has determined substantial up-dip reserves remaining in each of two fault blocks at the project site. The project’s total maximum potential for all categories exceeds 60 billion cubic feet of gas and four million barrels of oil. That kind of production would be an astounding result for FTTN’s first well.

First Titan plans to announce the project’s spud date soon.

First Titan is working to develop new energy solutions to compete in a booming global industry alongside Marathon Oil Corp. (NYSE: MRO), Exxon Mobil Corp. (NYSE: XOM), TOTAL S.A. (NYSE: TOT) and SandRidge Energy Inc. (NYSE: SD).

For more information on FTTN’s unconventional resources initiative, please visit www.firsttitanenergy.com/investors.

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