February 28, 2014
With news that the long-time oil monopoly in Mexico has ended, First Titan Corp. (OTCBB: FTTN) is currently exploring the potential for acquisition options south of the border.
The Mexico Congress recently passed a bill to end a 75-year state oil monopoly in the country. With the exception of the Arctic Circle, Mexico is the largest unexplored crude area in North America. Citigroup projects Mexico's potential oil production could reach 5 million barrels a day.
News of potential new oil plays in Mexico falls in line with FTTN's ambitious plans to add additional acquisitions to its oil and gas portfolio. The Company currently possesses stateside assets in Texas, Oklahoma, Louisiana and Alabama.
'We have been closely monitoring the situation in Mexico, and we believe the decision by Mexico's Congress to pass that bill is a win-win,' FTTN Interim CEO Robert Federowicz said. 'The foreign investment that will come with Mexico opening up its oil fields will offer a significant boost to their economy, while also providing forward-thinking, proactive companies such as First Titan Corp. an opportunity to further broaden their asset bases. The Company is currently exploring acquisition and joint venture opportunities in Mexico.'
FTTN is seeking continued growth of a diversified oil and gas portfolio. It is building a substantial collection of oil and gas properties and is dedicated to the continuing development of energy assets throughout North America alongside companies such as Continental Resources, Inc. (NYSE: CLR), Chesapeake Energy Corp. (NYSE: CHK), SandRidge Energy Inc. (NYSE: SD) and Ultra Petroleum Corp. (NYSE: UPL).
For more information on FTTN's oil and gas projects, please visit www.firsttitanenergy.com/investors.html.
About First Titan Corp.
First Titan Corp., through its wholly owned subsidiary, First Titan Energy, LLC, is committed to the exploration and development of oil and natural gas resources around the globe. The Company continually seeks to partner with energy developers that are pursuing innovative new methods of oil and gas extraction, including the development of new technologies, cleaner methods and unconventional resources.
Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words 'believes,' 'expects,' 'anticipate' or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
For more information:
First Titan Energy, LLC
495 Grand Boulevard, Suite 206
Miramar Beach, Florida
United States, 32550
Contact person: Robert Federowicz, Interim CEO
First Titan Corporation