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TNOG Titan Oil and Gas, Inc.-Titan Initiates New High-Volume Pumping Program on Stanley # 1 Well
CCNMatthews - November 17, 2005 9:30 AM (EDT)

SAN ANTONIO, TEXAS, Nov 17, 2005 (CCNMatthews via COMTEX) -- Titan Oil and Gas, Inc. (TNOG:OTC) announces that it is discussing the implementation of a high-volume pumping system to reactivate and exploit oil production from its Stanley # 1 Well.

One thing making this possible sooner than expected has been a disappointing result in the drilling of the Kosciusko # 1 Well. All indications of having reached a highly fractured zone were present, as earlier announced, and the well was completed at a depth of 7,325 feet. Generally, a highly fractured zone in the Austin Chalk indicates a good likelihood of oil and gas. Tests have finally been completed, after some delays surrounding maintenance of the rig, final hookups, and also a packer that had become unseated and that needed to be reinstalled prior to swabbing. Though small returns of gas were observed when swabbing the well, they are not strong enough to be economically viable, as it seems the fractured area has collected water. Though this is disappointing news after our efforts on this well, it does give us another opportunity in that it may be used for the disposal of water in reactivating our Stanley # 1 Well. The rig performed a water injection test on the well before leaving the site at the end of the day yesterday.

As part of our redevelopment plans, we are finalizing arrangements for a high-volume pumping system on the Stanley # 1 Well. The Stanley # 1 Well had produced just in excess of 1,000 barrels of oil in January of this year, but was starting to produce a higher percentage of water, so we had "shut it in" in anticipation of developing the well in a more economically-sensible manner. Test results have shown continuous production of oil from this well. If an inexpensive method were to exist in order to dispose of accompanying water, the well can be pumped at a very high volume. We had been seeking a water injection well, but expected that there would be a long permitting process to get underway. As we have most of the infrastructure, piping, tubing, etc., in place at this time, we would like to get this underway quickly using the Kosciusko # 1 Well.

Titan Petroleum Engineer Pete Maupin reports: "Producing high volumes of fluid in these wells can, in some cases, dramatically increase the percentages of oil, resulting in substantial production rates. We will need to install a submersible high-volume pump in the Stanley # 1 Well and do some minor preparations for pumping to begin. If all the pieces come into place quickly, we expect that we can be producing this well in a short period of time."

In addition, the Company has been holding discussions in regard to joint ventures to develop our other properties, and we will update shareholders as these developments unfold.

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.

SOURCE: Titan Oil and Gas, Inc.

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