First Titan Corp. (OTC BB: FTTN) is moving forward to secure an interest position in a Lake Boeuf field oil and gas lease in southeast Louisiana.
The Lake Boeuf field prospect covers more than 300 leasehold acres in Lafourche Parish. FTTN acquired a working interest in the lease from Intrepid Drilling LLC, the company’s joint venture partner in the South Lake Charles prospect well in Calcasieu, La. It is the fifth working interest in a prospective U.S. oil and gas well that FTTN has acquired in the past year.
3-D seismic data collected on the lease indicates promising production potential. FTTN expects to thoroughly analyze additional geological data on the site in the coming weeks.
FTTN is aggressively pursuing potentially lucrative oil and gas leases along the Gulf Coast. With oil now flowing at FTTN’s well in the Little Cedar Creek field in Alabama, the company will turn its focus to bringing more of its working interests online in the coming months as well as acquiring more promising drilling sites in the U.S.
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