TNOG news
Titan Oil and Gas, Inc.-Midway Gas Pipeline Completed + Rig Arrival
SAN ANTONIO, Aug 24, 2005 (BUSINESS WIRE) -- Titan Oil and Gas, Inc. (TNOG:OTC) is pleased to report that the previously-announced gas pipeline being built by Midway Pipeline, Inc. to purchase expected gas production from its Wilson County properties has been completed.
Midway President Ray Reus reports: "The full pipeline has now been laid. The sales meter is being connected and a final test is being performed, then the gas pipeline will be ready to go into service. The pipeline is 3 inches in diameter and over four and a half miles in length, representing an investment of appx. $75,000 by Midway in anticipation of purchasing gas from Titan's operations in Wilson County."
Titan CEO Kent Jacobson reports: "The drilling rig is expected to be at our Kosciusko # 1 Well on Friday to drill appx. 300 additional feet to our target depth, which we had been prevented from reaching previously due to unexpectedly high pressures. We are very happy that Midway's pipeline has now been completed so that the Company may benefit from sales of gas expected as a result of the Kosciusko drilling."
Jacobson adds: "Titan's new pipeline to link the Kosciusko # 1 Well to the Midway line is well underway. It is being built for a cost of appx. $11,000, is 2 inches in diameter and appx. 3,200 feet in length. With the very high pressures at which gas is encountered in this area, substantial volumes can be transmitted by a pipe of this size. We expect this pipeline will be finished on or before the conclusion of drilling operations."
About Titan Oil and Gas, Inc. - Titan is an energy company engaged in oil and gas development, drilling and production. Titan follows a conservative business model, redeveloping oil and gas fields with a history of production, while expanding into exploration and development of new properties.
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.
Titan Oil and Gas, Inc. (PINK SHEETS:TNOG)
SOURCE: Titan Oil and Gas, Inc.
CONTACT: Titan Oil and Gas, Inc.
Investor Hotline
(503) 618-0370 or Toll Free: 1-888-601-9983
info@titanoilandgas.com
www.titanoilandgas.com
Copyright Business Wire 2005
-0-
KEYWORD: United States
Canada
North America
New York
Texas
INDUSTRY KEYWORD: Energy
Oil/Gas
AI
