LAS VEGAS, NV / ACCESSWIRE / April 27, 2016 / Several respected energy analysts are predicting a slow but steady recovery for oil prices over the next few years, a positive outlook that gives credence to First Titan Corp.'s. (OTCQB: FTTN) ongoing value-based acquisition strategy designed to set the company up for long-term success.
According to Deloitte, a renowned worldwide consulting company, crude prices should average $44 for 2016, then grow to $55 by 2018 before ultimately reaching the $80 mark by 2022. Deloitte credits the U.S. repeal of an oil export ban as one of the main reasons for the expected rise, saying it gives American producers access to more markets and relieves pressure on stockpiles.
Deloitte is not alone in its optimism. RS Energy Group told CBC it agrees with Deloitte's forecast, saying that Asian markets will help mop up the current oversupply over time. Citi Research is predicting the oil market will balance in the second half of the year.
Sydney Jim, FTTN's CEO, said these forecasts buoy the company's long-term strategic plan of pursuing undervalued assets at bargain prices. "We've set a plan in motion designed to place us in a position to succeed," Mr. Jim explained. "By carefully concentrating on assets overextended and distressed companies have to sell to survive, we believe we can assemble a strong portfolio of properties that can generate revenue, enhance shareholder value and make us competitive at a low-level of risk or exposure."
FTTN has been building a competitive portfolio of oil and gas properties alongside companies such as Lucas Energy, Inc. (LEI), Earthstone Energy, Inc. (ESTE), Fieldpoint Petroleum Corp. (FPP) and Evolution Petroleum Corp. (EPM).
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.
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.
Contact:
First Titan Corporation
Sydney Jim, 702-448-8148
President and CEO
info@firsttitanenergy.com
SOURCE: First Titan Corporation
ReleaseID: 439239
