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The South Lake Charles, Louisiana, asset First Titan Corp. owns an interest in is entering the final stages of testing before going online for initial production.
The Company believes the well has the potential to produce four million barrels of oil and 60 billion cubic feet of gas. With those expectations, the operator is currently perforating the well to test production levels. Blow out preventers have been tested, and the operator is reentering the production tubing to perforate the well and test production. The well is expected to be producing full-time within the coming weeks.
FTTN Interim CEO Robert Federowicz said: "After we perforate the well, we will know how good a well we have. Based on the evaluation of the operator, we are extremely optimistic this is going to be a strong producing well with the possibility of being our best producing asset."