Business
LOI Opens Door for FTTN to Enter Promising Oil Field Equipment Market
LOI Opens Door for FTTN to Enter Promising Oil Field Equipment Market.
About this update from Globestar Therapeutics Corporation
[{"type":"text","content":"\n \n First Titan Corp. (OTCQB: FTTN) has signed an important letter of intent \n (LOI) that promises to send the company in an exciting new direction in \n search of additional markets and increased shareholder value. FTTN’s \n agreement with Southern Asset Development, LLC calls for the two firms \n to cooperate in exploring mutually beneficial midstream oil field \n equipment sales and leasing business opportunities.\n \n \n Forecasts predict the oilfield equipment market will top \n $127 billion by 2020. The ongoing overall oil and gas economic slump \n has created industry-wide \n asset auctions where valuable, \n often pristine equipment can \n be purchased for a fraction of its true cost and later refurbished \n and sold for a handsome profit.\n \n \n FTTN and Southern Asset Development will concentrate on the midstream \n sector, which gathers, stores and transports oil, natural gas and \n other petroleum-based liquids. Because it’s often less impacted by \n cyclical crude oil prices than the upstream (or exploration and \n production) market, midstream companies have not slashed budgets as \n severely as upstream and equipment demand remains strong for needed \n ongoing maintenance and upgrades.\n \n \n “This is yet another positive step forward for FTTN,” said CEO Sydney \n Jim. “We’re making solid progress towards achieving our aggressive \n business plan. Over the past several months, we’ve not only moved to \n secure additional \n production rights, we’ve also identified interesting \n new markets we can pursue to widen \n and diversify our revenue base. Now with this LOI, we’ve taken the \n key first steps to enter these new markets. This has definitely been a \n year of accomplishment, but 2016 should hold even greater promise.”\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 ...