Business
FTTN: Oil Field Service Bargains Offer Potential New Revenue Stream in Market Rebound
FTTN: Oil Field Service Bargains Offer Potential New Revenue Stream in Market Rebound.
About this update from Globestar Therapeutics Corporation
[{"type":"text","content":"\n \n First \n Titan Corp. (OTCBB: FTTN) believes it has found a lucrative new \n source of future revenues and is pursuing opportunities in a market some \n are abandoning: oil field services.\n \n \n Oversupply and falling demand have the oil and gas industry mired in a \n slump. Oil field service firms have been caught in a vise of too \n much debt and not \n enough projects to go around as exploration \n and production companies cut budgets. This has resulted in industry-wide \n asset auctions where valuable, \n often pristine equipment can \n be purchased for a fraction of its true cost.\n \n \n “The current price slump has opened a substantial window of opportunity \n to obtain good equipment at tremendous, previously unimaginable \n discounts,” said FTTN CEO Sydney Jim. “The oil and gas industry will \n recover, and when it does, companies that have taken advantage of these \n once-in-a-generation opportunities can reap windfalls if they plan and \n act accordingly. We’re looking at buying oil field service equipment, \n refurbishing it, and when the market does recover, selling it at a \n significant markup as drilling ramps up again. Such a plan holds the \n promise of solid revenues when the market upturns.”\n \n \n Auction houses are reporting \n record turnouts for oil field equipment sales, indicating there is a \n viable market of companies wanting to put such items to immediate use. \n Studies also forecast the market for oil field equipment will top \n $127 billion by 2020, showing the demand will remain strong.\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 meanin...