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[QUOTE]Originally posted by Ganoga94: [QB] [b]Titan Oil and Gas Projects $308,000 Monthly From Production Revenue for Crows Run Oil Field[/b] 8:30 AM ET 7/14/08 | BusinessWire Titan Oil and Gas Inc. (Pink Sheets:TNOG) has, as part of creating an Operations Plan for the Crows Run oil field, developed a set of projections that outlined the dramatic impact on production that will result from planned maintenance. Solely based on the rework and no other improvements or technology, Titan expects $308,000 of combined oil and gas production revenue per month once all wells have been reworked and are online. This estimate is based on the information that is available on the project from previous operators and geological reports. As of release of this announcement crude oil was selling at $140 per BBL (estimates based on $100 per BBL) to Ergon the purchaser while natural gas was selling at approximately $11 per MMBTU (estimates based on $10 per MMBTU) which will be sold to Columbia Gas of Pennsylvania. These projections consider the 27 currently producing wells with the addition of the 34 non-producers, to bring all 61 wells into production. The following is current production as is with no rework: Oil - 27 wells x 2.7 BBL per month (average) = 72.9 BBL per month Gas - 15 wells x 130 MMBTU per month (average) = 1,950 MMBTU per month The estimated cost to rework the entire field, including cleaning the pumps, removing the paraffin, cleaning or replacing rods and various other maintenance, is approximately $5,500 per well. Total estimated cost to rework the entire field of 61 wells is $335,500. Each well is expected to complete rework in one to two days. The figures that follow represent a good-faith estimate based on comparison with nearby wells of similar age and wells that were reworked in 2005, after such maintenance. Oil - 61 wells x 1.5 BBL per day (average) x 25 days = 2,287.5 BBL per month Gas - 61 wells x 5.2 MMBTU per day (average) x 25 days = 7930 MMBTU per month Titan is working with several well service companies that are interested in a possible partnership or acquisition to cut costs for Titan while hastening the reworking process. The result would be Titan's release of a portion of its working interest in exchange for an accelerated rework of the entire field to obtain the fastest return. However it is Titan's preference to fund the bulk of the project through its stockholders and financial partners rather than dilute its working interest. Titan Management will provide a spreadsheet of the project online for stockholder review. The list of wells and production will be updated on a weekly basis. We will also release a schedule that will include dates and revenue projections with the operations report after management meets with service companies and potential partners in Pennsylvania. ABOUT TITAN OIL AND GAS, INC Titan is an energy company with interests in oil and gas development, drilling and production. Titan follows a conservative business model, focusing on redevelopment of oil and gas fields with a history of production, and also, exploration of green projects and businesses such as biodiesel and wind power. For further information about Titan Oil and Gas please visit our website at http://www.TitanOilandGas.com or **** at http://www.TitanOilandGas.com/wordpress Certain information included in this communication (as well as information included in oral statements or other written statements made or to be made by Titan Oil and Gas, Inc.) contains statements that are forward-looking, such as statements relating to the future anticipated direction of the Oil and Gas Industry, plans for expansion, various business development activities, planned capital expenditures, future funding resources, anticipated sales growth and potential contracts. These forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual operations or results to differ materially from those anticipated. Please read the full disclaimer here: http://www.TitanOilandGas.com/disclaimer SOURCE: Titan Oil and Gas Inc. Titan Oil and Gas, Inc. Brandon Toth, President Domestic: 1-888-831-TNOG (8664) International: 512-897-1813 Email: Info*TitanOilandGas.com Website: http://www.TitanOilandGas.com ****: http://www.TitanOilandGas.com/wordpress [/QB][/QUOTE]
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