FTTN expects high returns from Louisiana oil wells
Friday, Nov 16, 2012
Louisiana's exemplary history of oil and gas production has set expectations high for First Titan Energy's (OTCBB: FTTN) assets.
“We’re committed to further oil and gas exploration in Louisiana, which is a premiere energy-producing state”
Louisiana is the nation’s top crude oil producer. Even excluding the state’s massive offshore production, Louisiana would still rank No. 6. So far in 2012, the state has produced 238,436,093 barrels of crude oil and condensate, according to the Louisiana Department of Natural Resources.
FTTN owns two working interests in prospective wells in Louisiana. The first is located in the historic South Lake Charles Field in Southwestern Louisiana, and the second in Lake Boeuf Field in the Southeastern region of the state. As the company and its partners work to finalize funding for both projects, FTTN CEO traveled to Louisiana this week to meet with the proposed well operators and inspect the two properties.
“We’re committed to further oil and gas exploration in Louisiana, which is a premiere energy-producing state,” said FTTN CEO Robert Federowicz.
“The reserve estimates for both of our current assets in the state are highly promising, and we plan to move forward with drilling as soon as the necessary funding is secured.”
For more information on FTTN’s oil and gas projects, please visit www.firsttitanenergy.com/investors.html.
Source: Business Wire
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