First Titan considering merger offer

Keeping it quiet: First Titan Energy in due diligence over merger offer

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Bill Lehane

 25 June 2012 11:19 GMT

US minnow First Titan Energy Corporation has revealed it is conducting due diligence on an offer of a potential merger from a US drilling company.

The Florida-based explorer did not reveal the identity of the company making the offer but said it was an “established oil and gas company...with multiple drilling locations across the United States”.

“A possible merger could result in new management for First Titan, as well as significant expansion of the company’s asset base and domestic operating capacity,” the junior said on Monday.

First Titan, which recently moved to acquire Bedford Operating, said it was examining the potential benefits of the merger for the company and its shareholders.

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