Business
FTTN: Continued Hints on Rising Oil Prices Good Sign for EOR Companies
FTTN: Continued Hints on Rising Oil Prices Good Sign for EOR Companies.
About this update from Globestar Therapeutics Corporation
[{"type":"text","content":"\n \n Many of today’s mainstream headlines talk about the effect of low prices \n on the oil industry. However, scratch below the surface and dig a little \n deeper into the news, and there are many indications the oil and gas \n market is about to pivot in a completely new direction, a welcome change \n in course First Titan Corp. (OTCQB: FTTN) \n has been anticipating and preparing for.\n \n \n Industry talk has been quietly gathering momentum about a coming oil \n price spike. More and more analysts are saying OPEC (the Organization of \n Petroleum Exporting Countries) can no \n longer sustain its ongoing price war and that member nations have \n begun feuding \n amongst themselves. In addition, an increasing industry watchers are \n forecasting a coming rise in crude prices – ranging from $80 \n a barrel next year to as high as $130 \n by 2017.\n \n \n “The net result of all this news is that the Enhanced Oil Recovery (EOR) \n market could soon get a strong boost,” said FTTN CEO Sydney Jim. “If and \n when prices rise, that will make EOR a much more attractive option for \n bringing declining fields back to productive life. And as EOR offers a \n quicker payoff than wildcat drilling, we expect a dramatic upturn in \n activity as soon as a recovery takes hold. If our plans bear out, we \n will be entering this promising market at the most opportune time, ready \n to take advantage of the upswing.”\n \n \n A recently released report has forecasted the EOR market to \n grow at a robust 16.9 percent rate 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 t...