Business
FTTN: Big Money Being Spent on Enhanced Oil Recovery, Setting Stage for Market Boom
FTTN: Big Money Being Spent on Enhanced Oil Recovery, Setting Stage for Market Boom.
About this update from Globestar Therapeutics Corporation
[{"type":"text","content":"\n \n A recently announced high-dollar project indicates the market for \n enhanced oil recovery (EOR) is nearing a takeoff point, and the news \n comes just as First Titan Corp. (OTCBB: FTTN) is approaching a decision \n of when and how to enter this potentially lucrative field.\n \n \n Houston-based Devon Energy has announced it is planning \n to invest $100 million on an EOR project that will use carbon \n dioxide (CO2) to \n extend production on a declining Wyoming oil field. Meanwhile, \n operators continue \n to expand EOR technology use in Alaska’s giant Prudhoe Bay oilfield, \n which has entered middle age production-wise and is a prime candidate \n for increased tertiary recovery methods.\n \n \n “EOR is becoming a hot market worthy of our interest and possible \n investment,” said FTTN CEO Sydney Jim. “Oil companies are realizing that \n not only is tertiary recovery a way to maintain production on older \n legacy fields, it’s also an effective means to reduce the need for new \n wells, thus dramatically cutting production costs. This is more vital \n than ever considering the current oil price environment. We’re now \n seriously looking for ways to enter this market. We believe it has \n enormous revenue potential and offers a way for us to build shareholder \n value.”\n \n \n A recently released industry research report is forecasting the enhanced \n oil recovery (EOR) market is \n expected to grow at a robust 16.9 percent clip between now and 2019.\n \n \n For more information on FTTN’s oil and gas projects, please visit www.firsttitanenergy.com.\n \n \n About First Titan Corp.\n \n \n First Titan Corp., through its wholly owned subsidiary, First Titan \n Energy, LLC, is committed to the exploration and development of oil and \n natural gas resources around the globe. The Company continually seeks to \n partner with energy developers that are pursuing innovative new methods \n of oil and gas extraction, including the development of new \n technologies, cleaner methods and unconventional resources.\n \n \n Notice Regarding Forward-Looking Statements\n \n \n Safe Harbor Statement under the Private Securities Litigation Reform Act \n of 1995: This news release contains forward-looking information within \n the meaning of Section 27A of the Securities Act of 1933, as amend...