According to a Business Wire report, oil and gas energy company First Titan Corp (FTTN) would be nearing completion of its acquisition of the oil zone in Hardin County, Texas. The report, however, did not provide financial details about the transaction.
FTTN CEO Harvey Bryant said, "We're excited by the prospect of securing such a large position. An acquisition like this will drastically change the outlook for the company and provide a great catalyst for continued growth."
The oil zone in Hardin Country included several wells across its 4,100 acres. FTTN's acquisition would allow the company to only put in minimum capital and drastically producing maximum oil production in the shortest time possible.
FTTN had been building up a portfolio of significant properties in oil and gas. It is also focused in developing energy assets through North America. It currently has an ongoing project in Louisiana called the South Lake Charles Prospect.
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