The company said it is wrapping up due diligence on the lease and expects to ink a purchase agreement with the prospective seller next week.
First Titan is targeting the Big Canyon prospect in Terrell County, Texas, and if negotiations are successful, the prospect will become the second oil and gas lease in which the company holds a working interest.
The company last week acquired a working interest in a new well to be drilled in South Lake Charles in the US state of Louisiana.
