LAS VEGAS--Despite falling crude prices, American investors have not lost hope in energy, a sentiment companies across the sector, including First Titan Corp. (OTCQB: FTTN), plan to tap into as they collectively seek to raise a combined $4.6 billion in equity this quarter.
That impressive total represents nearly 30 percent of all U.S. equity to be raised in that time period, placing energy ahead of all other industries, except healthcare.
However, that $4.6 billion figure may go much higher before long. Because several early equity deals have proven successful, more companies may jump into the fray, potentially pushing the final quarterly total to $11 billion, second in size only to the record first quarter 2015.
“To paraphrase Mark Twain, reports of the death of the oil and gas business are quite premature,” said FTTN CEO Sydney Jim. “This data shows energy companies are still willing to spend and that investors maintain a positive attitude towards the industry and its future, despite the current price of crude and all the doom and gloom put forth in the media. FTTN has never lost faith in the future and our aggressive business plan of smart, value-based acquisitions and taking advantage of distressed and emerging markets ought to be an appealing story for investors seeking a good place for strong returns in an inevitable recovery.”
FTTN is 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.