Titan Oil & Gas, Inc. is an oil & gas company aggressively exploring and acquiring land in key petroleum-producing regions of Alberta, Canada. The Company’s projects are in areas of excellent infrastructure and high drilling activity. They plan on using the most current and proven cost effective technologies to generate long-term reserves and production while maximizing shareholder value.
Alberta is one of the most prolific regions for oil exploration and production in the world. The province contains an estimated 174 billion barrels of oil. This represents more than 8-times the reserves of the entire United States. Alberta also hosts significant natural gas deposits with the Alberta Geological Service projecting as much as 500 trillion cubic feet (Tcf) of gas in-place.
Titan Oil & Gas, Inc., in April 2010, executed a sale and conveyance agreement for the acquisition of a 2.51255 percent working interest in an oil well located in Alberta, Canada. In addition, in April 2010, they acquired an interest in two PN&G leases in the province of Saskatchewan. The total area covered by their portion of the leases is 326 acres. They have raised, to date, a total of $130,000 and they are now looking to raise additional funds to be used for the furthering of their property acquisition and exploration plans.
Between August and September 2010, Titan entered into seven Petroleum and Natural Gas (PN&G) leases with the Alberta provincial government. The Company has acquired interests in a total land package covering 4,428 acres in southeastern Alberta.
Titan is currently focused on developing five oil and gas projects near the cities of Lethbridge and Medicine Hat, Alberta. They own 100 percent of the petroleum and natural gas rights for the full-depth in three of these projects. They own 100 percent of the petroleum and natural gas rights below the base of the Mannville in the remaining two.
Today, Titan Oil & Gas, Inc. announced that they have engaged an independent engineer to undertake an initial assessment of their Alberta land portfolio. The Company’s southeastern Alberta land portfolio includes projects located in areas of significant production including the Atlee-Buffalo, Bow Island, Eyremore, Retlaw, and Taber regions. They are actively reviewing several other assets in Alberta and hope to add to their portfolio in the near future.
The Atlee Buffalo project is located approximately sixty miles north of Medicine Hat in Alberta. The Bow Island project is located approximately twenty miles southwest of Medicine Hat. The Eyremore project is located approximately forty eight miles north of Lethbridge, Alberta. The Retlaw project is located approximately thirty miles northeast of Lethbridge. The Taber project is located approximately thirty miles east of Lethbridge.
Jarnail Dhaddey, president of Titan, said, “We believe the potential for our land package is substantial and are very excited to take this important step forward in our development plans.”