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[QUOTE]Originally posted by Ganoga94: [QB] Management Travels To Kern County, Meets With Nahama Oil and Gas Posted in Titan Oil and Gas News by admin No Comments » This month marks the 100-year anniversary of the discovery of Middle Eastern Oil. With all of the unrest in that part of the world factoring into the increased price of oil, we find it fitting on this anniversary that we are looking to one of the more prolific areas of domestic oil production in the past century. We see domestic development as both an opportunity for Titan and imperative for United States security. We embarked on our trip to Kern County, California this past week to initiate operations on our lease in the area as well as look into several other opportunities for Titan Oil and Gas. Over the past thirty years the oil industry in the United States has had its share of boom and bust cycles. In the late eighties and early nineties many of the operations in Kern County, CA lost traction and saw a slide in development and production. Because of both declining prices and higher production costs in Kern County, the area fell out of favor during this time. Some strikes were not followed through on simply because the margins weren’t big enough; some producing wells were abandoned, even though there was no lack of oil in the ground. It is for this reason that there is so much opportunity for a smaller more focused organization such as Titan Oil and Gas at this time. Quite a few wells were drilled in the area and left undeveloped because they failed to meet a much narrower criterion for development than we have today with $100 - $150 dollar per barrel oil. A “dry hole” or more correctly an under-productive project becomes much more attractive at these new pricing thresholds. New data sets and Technologies used for recovery in the region are not only available but are much more in reach of an organization such as Titan. Now we must act with hard work and attention to detail that has continually proven to Titan’s current leadership team a path to increasingly favorable situations. We bring this detailed approach by working with experts such as one of the best-versed professionals whose years of experience on the West Coast in general and in the San Joaquin Valley in particular give us an edge regarding project development. We met with our associate, Mr. Nahama, and reviewed among other things a number of available projects in the area as well as joint venture possibilities. The first order of business was going over our current lease with Mr. Nahama. We came to the conclusion that a number of attempts on the lease to produce fell short because they were too shallow when viewed in terms of the latest producing wells. We are now looking at developing a data set so that we can target these deeper, 5000ft. or so, under the advice of Nahama Oil and Gas. Our trip also consisted of meeting to discuss a number of organizations that have projects that would benefit from a joint venture with Titan Oil and Gas. They are interested because of organizational issues that have kept oil yielding wells out of production; a situation that could be addressed with Titan’s participation. We explored a number of solid possibilities that we fully intend on moving forward with. With introductions from Nahama Oil and Gas management, we connected with organizations that have projects within renowned zones such as Midway-Sunset, South Belridge, Kern Bluff and Kern Front Fields. As you might imagine the challenges for Titan are formidable but not so much as some might suggest. We continue to show that our hands on approach and our negotiation skills have allowed us to meet challenges to very favorable ends. With the confidence of our stockholders we have made a good deal of positive progress and it is with this spirit that we persist. Many though continue to be rightfully skeptical given the lack of performance in previous years. These perspectives have fueled our drive and will continue to. We appreciate both the confidence many have given us as well as the “wait and see” attitude of others. I stated as I came into a leadership role as President of Titan Oil and Gas, just a few months ago, that we would take a “Warts and All” approach in our communication now that it is up to me to determine and we have done so. We believe and find many agree that we have done a good job removing blemishes and have enjoyed the comments of those who have pointed this out. Now we must also appreciate those who have rightly pointed out that we must bring value through projects and production. This trip is a strong first step in what will be a rewarding, if long, journey. [/QB][/QUOTE]
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