SOURCE: Titan Oil and Gas, Inc.

January 18, 2007 11:49 ET

Titan Oil and Gas, Inc. -- Company Update and Leadership Change

SAN ANTONIO, TX -- (MARKET WIRE) -- January 18, 2007 -- Titan Oil and Gas, Inc. (PINKSHEETS: TNOG) would like to provide an update on the Eberle #1 gas well operations as well as recent leadership and company communication changes.

EBERLE #1 UPDATE

The gas Eberle #1 well operations are nearing the production phase. Recent hydraulic fracturing was successful and the gas well has shown to be a viable producer. Lab test results on gas samples from this well can be reviewed in a previous news release dated November 3, 2006. Pressure and flow rates as well as details on cash flow projections will be forthcoming, as they are made available.

LEADERSHIP CHANGE

Titan Oil and Gas is in the process of changing leadership so the company will be poised for success in the coming year. We would like to thank John Haylock and Guy Posella for assuming management and directorial responsibility for the last few months. In their place will be John Marconette and Brandon Toth taking over Board of Directors duties. John Marconette has been appointed to the position of President. Brandon Toth is coming on as Vice President of Communications during this transitional period. Additional Titan Oil and Gas management team members will be announced as they are added.

NEW INFORMATION RELEASED VIA COMPANY WEBSITE

While we continue the leadership transition, a better-detailed picture of the company's financial condition and structure will come into focus. Updates that are a result of this process will be posted on the website, www.titanoilandgas.com, and included in the Titan eNewsletter. The updates will have information about Titan including, but not limited to, press releases, leadership additions, production numbers as well as a host of other relevant information. We want to encourage any questions about Titan Oil and Gas and its operations to be submitted to the email address and phone number provided below. We will be including answers on the Titan eNewsletter and in a company blog that will be added in the coming weeks. We have found that investors appreciate having updates available that might not be of press release significance but still remain relevant to their position.

ABOUT TITAN OIL AND GAS, INC.

Titan is an energy company with interests in oil and gas development, drilling and production. Titan follows a conservative business model, focusing on redevelopment of oil and gas fields with a history of production, and also, 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.

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