First Titan Corp. (OTCBB: FTTN) reports the company’s lease near South Lake Charles, La., is now being prepped for drilling.

With all necessary permits and financing in place, FTTN now expects drilling to begin at the site in the first week of April, according to the release.

First Titan is highly optimistic about the new well’s production potential. The well location is in Calcasieu Parish, La., in an oil field where wells have already produced 21.3 billion cubic feet of gas and 1.7 million barrels of crude. Intrepid Drilling LLC ...