Business
FTTN’s Acquisition Strategy Aims to Take Advantage of Big Oil’s Capital Spending Cuts
FTTN’s Acquisition Strategy Aims to Take Advantage of Big Oil’s Capital Spending Cuts.
About this update from Globestar Therapeutics Corporation
[{"type":"text","content":"\n \n Major oil companies are drastically cutting capital spending plans in \n response to continued low crude prices, and that news plays right into \n the hands of First Titan Corp. (OTCQB:FTTN), which is ramping up its \n asset acquisition program.\n \n \n Crude prices are at 11-year lows. As revenues and profits fall, major \n oil companies are borrowing heavily to preserve dividends. They’re \n also slashing \n 2016 capital spending plans for new drilling and development, and \n putting assets up for sale. These cuts follow an estimated $250 \n billion drop in spending last year.\n \n \n FTTN believes these spending cuts and asset sales open a unique window \n of opportunity it intends to exploit.\n \n \n “We have a once-in-a-generation chance to acquire valuable assets at \n rock-bottom prices,” said FTTN CEO Sydney Jim. “There’s no way these \n assets would ever be available in normal market conditions. Now is the \n perfect time to build an aggressive portfolio that will lead to \n sustainable revenues and increased shareholder value when a recovery \n inevitably takes place.”\n \n \n One major investment group gives credence to ideas like those proposed \n by FTTN. Citi Research is predicting the \n oil market will balance in the second half of the year. And others \n are forecasting today’s cuts will \n lead to future shortages, which FTTN says will greatly boost the \n value of assets bought in today’s low-price environment.\n \n \n FTTN is building a competitive portfolio of oil and gas properties \n alongside companies such as Lucas Energy, Inc. (LEI), \n Earthstone Energy, Inc. (ESTE), \n Fieldpoint Petroleum Corp. (FPP) \n and Evolution Petroleum Corp. (EPM).\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...