Business
FTTN CEO: Major Progress in 2015 Sets Stage for Even Brighter Future
FTTN CEO: Major Progress in 2015 Sets Stage for Even Brighter Future.
About this update from Globestar Therapeutics Corporation
[{"type":"text","content":"\n \n First Titan Corp. (FTTN) \n President and CEO Sydney Jim issued the following open letter to \n stockholders today:\n \n \n Dear Stockholders,\n \n \n Despite the challenges of today’s low-price environment, our Company \n made tremendous strides in 2015. We’re confident the forward-looking \n strategy we’ve put into place will ensure 2016 meets and surpasses our \n success over the past 12 months.\n \n \n Value-Based Acquisitions Lead the Way. As the price of oil \n continued to sink, FTTN saw opportunity amidst chaos – the chance to buy \n promising properties at substantial discount. Oil and gas companies are \n divesting valuable assets to stay in business. Needing to sell quickly, \n they’ve put up properties otherwise unobtainable in better market \n conditions.\n \n \n FTTN has identified several intriguing assets and signed letters of \n intent on properties in the Cline and Barnett Shales. These efforts \n should lead to a growing portfolio that build revenues and increase \n shareholder value.\n \n \n No one can predict the price of a volatile commodity with certainty. \n However, indicators show growing fractures inside the Organization of \n Petroleum Producing Countries, which has flooded markets to drive \n American shale producers out of business. These indicators show \n weakening resolve within OPEC, a change that could led to tightening oil \n markets and rising prices - good news for companies like ours.\n \n \n FTTN expands its interests. In 2015, the Company made advances in \n two additional markets: Enhanced Oil Recovery (EOR) and oilfield \n services. In EOR, our due diligence suggests a strong opportunity for \n companies in developing and marketing technology to extract more oil \n from mature or declining fields. FTTN is considering entering the EOR \n field based on these findings and is now looking for suitable entry \n points into the sector.\n \n \n The oilfield services sector, much like production, is seeing surging \n asset and equipment sales as companies divest to stay in business. We \n see a solid market for used equipment, particularly in midstream. With \n current conditions, companies can buy prime used equipment at \n substantial discount, refurbish it and then lease or sell it to oil and \n gas companies for profit. FTTN is now exploring future oilfie...