LAS VEGAS–(BUSINESS WIRE)–First Titan Corp. (OTCBB:FTTN) continues to advance its long-range plans focusing on shrewd oil & gas acquisitions at bargain prices amidst several reports the industry may be ready for a long-awaited rally.
Analysts are predicting the Organization of Petroleum Producing Countries (OPEC) may cut production at its upcoming December meeting in Vienna, Austria. Many cartel members, notably Venezuela, have been pushing for steep production cuts as they have seen their oil revenues plummet and their domestic populations balking when government-funded entitlement programs have to be slashed.
“Any OPEC cuts would have a positive effect on U.S. oil & gas activities,” said FTTN CEO Sydney Jim. “We intend to be in a strong position when this price war ends. Our plan began rolling with the Cline Shale letter of intent and now we’re moving to other potential promising acquisitions. And don’t forget, we’re also pursuing strong opportunities in the oil field service sector and enhanced oil recovery industries. The next several months should be interesting.”
It will be very interesting if one industry analyst’s prediction comes to pass. Going against the grain, this market watcher is forecasting oil prices will rocket to $130 a barrel by 2017. While few may share this analyst’s exuberance, there are serious signs the oil glut may be ending.
For more information on FTTN’s oil and gas projects, please visit www.firsttitanenergy.com.
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.
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