Some previous history on Kent Jacobson and Pete Maupin They just left Titan Oil & Gas (TNOG)which was formerly Titan Consolidated. now they are with Pegasus, enjoy:
Titan Consolidated. PRs Here are several PRs from 3/08/04 - 1/26/05
http://www.primezone.com/newsroom/news.html?d=53796 Titan Consolidated Inc. to Purchase Video On Demand Company LodgeView Entertainment VANCOUVER, British Columbia, Canada, March 8, 2004 (PRIMEZONE) -- Titan Consolidated Inc. (Pink Sheets:TTCS) announced today that it has agreed to purchase LodgeView Entertainment Inc., a Canadian based provider of Video on Demand services to the Hospitality Industry. The purchase will allow Titan Consolidated to enter into the VOD market and to roll out a comprehensive communications bundle to include VoIP technology and other services. LodgeView generates its current revenues from installations in 14 hotels in Canada and is looking to expand its client base across North America and parts of Asia. The company is also negotiating with several other potential hotel clients. For Titan Consolidated, it means that the company will now have access to an integrated and expanding VPN (Virtual Private Network), which in turn will provide a virtually cost free backbone in which the company can deploy its planned VoIP services. This can be accomplished due to the modular construction of the technology and the already revenue generating Video On Demand (VOD) services. Further, Titan also plans to roll out an integrated Value Added Services package to hotels, including foreign exchange and money transfers, customer loyalty programs. LodgeView technology also includes Internet Broadband services and is based on new proprietary technology designed exclusively by LodgeView technicians and designers. 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 Consolidated Inc.) contains statements that are forward looking, such as statements relating to the future anticipated direction of the Software Industry, VoIP and Video On Demand, 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.
http://www.primezone.com/newsroom/news.html?d=56327 Titan Consolidated Inc. to Develop Oil and Gas Project in the Austin Chalk Trend Area of Texas SAN ANTONIO, April 22, 2004 (PRIMEZONE) -- Titan Consolidated Inc. (Pink Sheets:TTCS) announced today that it will develop an oil and gas area in Wilson County, Texas. This reservoir area has a long history of oil exploration and production. Although it is difficult to determine exact reserves in the Wilson County Field, an estimate can be based on its size - approximately three miles long by 3/4 miles wide - as well as historical data, engineering reports and seismic information. On this basis, a minimum of 2,000,000 barrels of recoverable oil can be assumed. At today's prices this could represent as much as $60,000,000 of gross oil revenue. A Term Sheet has been signed and Titan has also negotiated Prospect and Operating Agreements, reflecting 100% ownership in the project after initial payouts. Income will be realized from natural gas production in the initial stages of drilling. The Wilson County Field is expected to produce a significant amount of natural gas. Based on historical and seismic information collected by Petroleum Engineer Peter Maupin, gas sales are estimated to be a minimum of $12,000,000. Existing infrastructure and development will allow for significant cost reductions. The property has an existing gas line to the field, which will save time and expense in bringing our gas to market. Further cost savings will be realized as the 20 existing abandoned vertical well bores will be used to launch horizontal laterals. This will further drop costs from an estimated $600,000 to $150,000 per well. Therefore, once the field is fully developed, a substantial gross return can be expected, assuming the world's strong demand for energy keeps prices at a consistently high level. Initially, Titan will raise $370,000 by way of a private placement. Use of proceeds will include drilling costs, conversion of an existing well into a water injection well, a water disposal system, gas gathering, etc. A suitable operator will work the completed wells and any costs over-runs for such operations will be the responsibility of the operator, specific to the Prospect and Operating Agreements. Both Titan Consolidated and Engineer Peter Maupin look forward to the development of future Oil and Gas projects in the same area of Texas and will endeavor to locate additional properties with similar attributes and available historical data. 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 Consolidated 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.
http://www.primezone.com/newsroom/news.html?d=56536 Titan Consolidated, Inc. Moving Corporate Offices to San Antonio, Texas SAN ANTONIO, April 27, 2004 (PRIMEZONE) -- Titan Consolidated Inc. (Pink Sheets:TTCS) announced today that it has moved its corporate offices to San Antonio, Texas, in order to facilitate its work efforts in the San Antonio Chalk Trend area. The new offices will house Petroleum Engineer Peter Maupin and other engineers related to the Austin Chalk project in Wilson County and will serve as a base for other projects in the State of Texas. The company's corporate offices are now located at: Titan Consolidated Inc. The Petroleum Center Suite E-104 900 NE Loop 41 San Antonio TX 78209 The Company has launched a new corporate website, http://www.titanoilandgas.com Please consult the "Wilson Project" page at the website for a detailed description of the Austin Chalk project in Wilson County. The web site will be updated periodically over the next 7 days as new information is added. You may also contact Investor Relations at its new e-mail address: info@titanoilandgas.com Titan Works Toward Completing Filings with the Exchange Titan is also working to complete its filings with the exchange in order to resume its quotation on the OTC:BB. The company will need to complete all accounting processes and is now preparing for its required audit. Although little activity has taken place over the last 2 years, all financial documents and related materials are being compiled and the company will forward the necessary materials to an auditor as soon as practically possible. The company will keep shareholders informed regarding its progress.
http://www.bizjournals.com/sanantonio/stories/2004/05/10/weekinbiz1.html Titan Consolidated San Antonio has become the new home for a publicly traded oil and gas company. New York-based Titan Consolidated Inc. (Pink Sheets: TTCS) has relocated corporate headquarters to San Antonio in order to invest in oil and gas projects in South Texas. Titan, a small, five-person exploration and production company, will locate its headquarters in the Petroleum Center in Northeast San Antonio. The company is currently focused on projects in the Austin Chalk geological formation. The company announced last week that it has signed agreements for leases in Wilson County that could generate an estimated $60 million in oil sales and $12 million in natural gas sales once the fields are fully developed. The company hired long-time petroleum engineer Peter Maupin to head up well development efforts. Since 1971, Maupin has developed more than 100 wells in the Austin Chalk formation for various small, independent oil and gas firms. Initially, the company will develop three horizontal wells in Wilson County that will come online by the middle of summer, Maupin says. Titan will develop additional wells in the field as capital permits. He anticipates the three-well project will cost $370,000 to develop.
http://www.bizjournals.com/sanantonio/stories/2004/09/13/daily25.html Titan signs gas production contract with Midway Pipeline Titan Consolidated Inc. (OTC:TTCS) has signed a gas production contract with San Antonio-based Midway Pipeline Inc. Titan signed the contract in order to facilitate the sale of anticipated gas production in the Stanley Unit, Wilson County, Texas. The field is located in the Austin Chalk formation. "We are pleased to have contracted Midway as our gas distribution company, and we look forward to a successful relationship," says Kent Jacobson, president of Titan. "The company's operations are well under way on the Wilson County property, leading us to take steps to ensure that we have the capacity to handle anticipated gas production."
http://www.primezone.com/newsroom/news.html?d=64167 Titan announces gas separator installation on Stanley Unit (Austin Chalk) Wilson County, TX. SAN ANTONIO, Texas, Sept. 21, 2004 (PRIMEZONE) -- Titan Consolidated, Inc. (Pink Sheets:TTCS) President Kent Jacobson announced today that the Company has installed a gas separator unit on its project in the Stanley Unit (Austin Chalk) Wilson County, Texas. Additional gas treating equipment, including an H2S Sample Monitor, has been provided by Midway Pipeline, Inc., of San Antonio, Texas. Titan has advanced the installation costs, which will be returned by means of an additional 5% payment to Titan each month above the current gas sales price, per terms of Titan's contract with Midway. The gas separator and ancillary equipment will allow natural gas to be treated on-site, allowing Titan to get the best attainable market price on anticipated production. 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 Consolidated, 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.
http://www.bizjournals.com/sanantonio/stories/2004/09/27/weekinbiz1.html?page=2 Titan Consolidated Titan Consolidated Inc. (OTC:TTCS) has signed a gas production contract with San Antonio-based Midway Pipeline Inc. Titan signed the contract in order to facilitate the sale of anticipated gas production in the Stanley Unit, Wilson County, Texas. The field is located in the Austin Chalk formation. "We are pleased to have contracted Midway as our gas distribution company, and we look forward to a successful relationship," says Kent Jacobson, president of Titan. "The company's operations are well under way on the Wilson County property, leading us to take steps to ensure that we have the capacity to handle anticipated gas production." .
http://www.primezone.com/newsroom/news.html?d=65176 Titan Anticipates Sales of Natural Gas by End of Week; Natural Gas Imminent on Stanley Unit (Austin Chalk) Wilson County, TX SAN ANTONIO, Texas, Oct. 7, 2004 (PRIMEZONE) -- Titan Consolidated, Inc. (Pink Sheets:TTCS) reports that it has completed installation of gas pipe to the wellheads of its 2 major wells, and final electrical wiring is being done on the H2S Sample Monitor for gas processing. With the purchase agreement by Midway Pipeline already in place the Company anticipates sales of natural gas from the Stanley Unit (Austin Chalk) Wilson County, TX. to begin by the end of this week. It is very difficult to determine exact reserves in the Austin Chalk because of the nature of the reservoir, as it is made up of fractures and fissures. From the extent of the field -- approx. 3 miles long and approx. 3/4 mile wide -- we can assume a minimum of two million barrels of recoverable oil are still in place. This would mean over $84,000,000.00 of gross oil revenue at today's prices. We can also assume a recovery of approx. two mcf of gas/bbl of oil recovered which would give additional gas reserves of approx. four million mcf. This would mean over $20,000,000.00 of gross gas revenue at today's prices. Titan CEO Kent Jacobson comments: "We are pleased to reach this important milestone as a Company, as we begin the production phase of our operations." 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 Consolidated, 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.
http://www.bizjournals.com/sanantonio/stories/2004/10/25/daily26.html Titan brings first oil to market Titan Consolidated Inc. (Pink Sheets: TTCS) is bringing its first oil to market since relocating in San Antonio and signing leases for three wells in the Austin Chalk geological formation in Wilson County. Titan, formerly based in New York, is a small, five-person exploration and production company. The company announced Wednesday, Oct. 28, that its No. 1 well had produced 225 barrels of oil. "This is a great day for Titan as we bring our first oil to market," says Titan CEO Kent Jacobson. "Our petroleum engineer, Peter Maupin, called Tuesday for an oil hauler to pick up our first load of oil. At that point we had produced 225 barrels and we will keep producing until the truck arrives."
http://www.bizjournals.com/sanantonio/stories/2004/11/08/daily26.html November 10, 2004 Titan Consolidated's well continues to produce oil Titan Consolidated Inc. on Wednesday said that its No. 1 well produced another 115 barrels oil under its own pressure. This follows Titan's last month production of 195 barrels. Titan (OTCBB: TTCS) had produced enough oil to fill two truck loads. "We are quite pleased that the well is continuing to produce oil under its own pressure and anticipate this to continue for a few more weeks before putting the well on pump," says Titan CEO Kent Jacobson. San Antonio-based Titan is engaged in oil and gas exploration and production. Its drilling and well development activities are currently centered in the Austin Chalk formation in Wilson County.
http://www.bizjournals.com/sanantonio/stories/2005/01/24/daily22.html January 26, 2005 Drilling on Titan's Kosciusko #1 well is underway Titan Consolidated Inc. on Wednesday said that drilling is underway on its Kosciusko No. 1 well in Wilson County. Titan's (Pink Sheets: TTCS) well is a vertical re-completion of an existing horizontal well with a history of solid production, says Titan CEO Kent Jacobson. The San Antonio-based company is in the process of drilling vertically 550 feet from the bottom of an existing hole to a total depth of 7,200 feet. Titan is awaiting an order of steel tubing from Cressman Tubular in Addisson, Texas. "Everything has progressed as expected thus far," says Titan's Petroleum Engineer Pete Maupin. "We have ordered a large workover rig, capable of deep drilling to reach our target depth, from Capital Well Services of Charlotte, Texas. We look forward to the completion of this well." Titan is engaged in oil and gas development. Its business model is to redevelop oil and gas fields with a history of production, while looking for opportunities to expand into new properties.
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