BRADENTON, Fla.--(EON: Enhanced Online News)--As First Titan Corp. (OTCBB: FTTN) negotiates definitive agreements with BioFuels Power Corp. to finalize its entrance into the $5.29 billion gas-to-liquids market, the immense profit potential of converting flared gas reserves into liquid hydrocarbon fuel is becoming exceedingly apparent.
There is an abundance of natural gas that is burned into the atmosphere every day, with literally millions of dollars in revenue going up in smoke. A study by industry insider, Ceres, shows that in North Dakota 30 percent of produced natural gas is being flared. FTTN and its partners are evaluating an investment in technology to convert natural gas, currently being flared, into a diesel-like fuel that is far more valuable in today’s marketplace.
Natural gas flaring in North Dakota represented roughly $3.6 million in lost revenue per day in May, which calculates to over $1.3 billion per year on an annualized basis.
FTTN, an oil and gas energy company seeking continued growth of a diversified oil and gas portfolio, is currently negotiating with BioFuels Power Corp., an industry-accomplished company that possesses the technology to increase the financial returns of FTTN’s natural gas resource holdings and acquisition targets.
First Titan Corp. is building a substantial collection of oil and natural gas properties and is dedicated to the continuing development of energy assets throughout North America alongside companies such as Continental Resources, Inc. (NYSE: CLR), Chesapeake Energy Corp. (NYSE: CHK), SandRidge Energy Inc. (NYSE: SD) and Ultra Petroleum Corp. (NYSE: UPL).
For more information on FTTN’s oil and gas projects, please visit www.firsttitanenergy.com/investors.html.
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.