The company is focusing in its efforts to look for oil and gas wells in Southern Louisiana, which is said to be the country’s rich energy producing region.
First Titan is already weighing the possibility of acquiring a part of an existing production well that is producing 200 barrels of oil per day and three million cubic feet of gas.
First Titan CEO Robert Federowicz commenting on the possible acquisition said, "Due to its steady production numbers and geographic proximity to our other projects, this well looks like a smart, natural addition to First Titan’s asset base."
The company also owns a working interest in a production well in Alabama and has plans to drill a second well in Louisiana before the end of 2012.
First Titan is expecting significant gains for the company and its shareholders because of the potential reserve estimates for both the assets.
