First Titan Corp (FTTN) Optomistic on Prospect of New Gulf Of Mexico Drilling Opportunities

Watch for shares of Penny Stock First Titan Corp. (OTCBB: FTTN.OB) to start trading higher volume. FTTN could make an offshore acquisition while the company works diligently to increase its domestic oil and gas assets.

FTTN closing price yesterday was $1.88, up 3.30% (+0.06).
FTTN is a low float of just 12 million shares
FTTN traded volume of 25,171.

FTTN is trading:

  • $-0.31 below its 20 day moving average,
  • $-0.16 below its 10 day moving average and
  • $-0.01 below its 5 day moving average.

First Titan Corp. is committed to the exploration and development of oil and natural gas resources around the globe. The company continually seeks to partner with energy developers that are pursuing innovative new methods of oil and gas extraction, including the development of new technologies, cleaner methods and unconventional resources.

Last week in the state of the union speech, President Obama spoke of plans to open 39 million acres in the Gulf of Mexico. The Gulf of Mexico is the massive new frontier for oil and gas drilling in the U.S. and presents an incredible opportunity for First Titan Corp.

The Energy Information Administration (EIA) in Washington announced last week that deepwater Gulf production will likely be more crucial to American energy independence than shale formations. Over the next decade, the Gulf is expected to be the driving force in growing U.S. oil production. As new projects come online, output there could expand from 1.3 million barrels a day last year to 2 million barrels a day by 2020.

Keep an eye on FTTN as the stock could start a run upwards quickly.


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