Oil well spud preparations reviewed by FTTN & Intrepid

Source: First Titan Corp.

First Titan Corp. (OTCBB: FTTN) CEO Robert Federowicz will meet with executives from Intrepid Drilling, LLC, this week to review preparations for spudding the partnership’s new oil and gas well at the South Lake Charles Prospect in Calcasieu, La.

FTTN inked a joint operating agreement last month placing Intrepid Drilling in charge of drilling and operating the new well. FTTN purchased a working interest in the South Lake Charles Prospect in January, as well.

The well’s spud date is currently set for March 1. At this week’s meeting, Intrepid Drilling will go over drilling plans with Federowicz, including final details. Intrepid Manager William E. Simmons will be on hand to present the project timeline to Federowicz.

An emerging energy company, FTTN is relying heavily on its partner’s drilling and production experience to help make the South Lake Charles Prospect a success. Plans call for the company to drill to a total depth of 15,300 ft at the project location. 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.

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