SOURCE: Titan Oil and Gas, Inc.

April 27, 2007 09:00 ET

Titan Oil and Gas, Inc. - Leases Signed in Kern County California

Titan Oil and Gas Has Signed Oil and Gas Leases on 480 Acres in the Southwest United States' Largest Prolific Area, Kern County, California

SAN ANTONIO, TX -- (MARKET WIRE) -- April 27, 2007 -- Titan Oil and Gas, Inc. (PINKSHEETS: TNOG) is pleased to announce as part of the second phase of reorganization, the acquisition of 480 acres of oil and gas leases in the prolific Kern County, California region. "If Kern County was a state it would rank just behind California and ahead of Oklahoma in the production of oil," Brandon Toth - Vice President of Communication. The leases were purchased based on the proximity to major oil producing fields whereas the undeveloped land in the region is thought to be a prime target for new development.

Kern County is California's top oil-producing areas; it contains 85% of the state's 43,000 oil wells. The County is one of the largest producing regions in the country with three of the top five wells in the country. The largest of these is the Midway-Sunset field that produced more than 39.7 million barrels of oil in 2006, according to the California Division of Oil, Gas & Geothermal Resources. The county is responsible for upwards of one percent of the total production of oil in the world. "The undertaking is large but the potential rewards obviously make all of us excited about moving forward," stated John Marconette, the company's President.

The project was located by new management through their connections in oil and gas industry and the rights were purchased by Titan Oil and Gas. It lies east of Bakersfield and is surrounded by such mega fields as: Ant Hill, Edison (144 million barrels extracted as of 2000), and Kern Bluff. Oil operators in the area include: Chevron, Southern Oil and Gas, Western Petroleum Co., Mobil Oil Corp., and Stockdale Oil and Gas to name a few. Plans include a strategic review of the area and potential on our 480 acres as well as entertaining joint ventures with similar minded oil and gas companies on this field.

Having met the benchmarks of the first phase of the turnaround the leadership of Titan Oil and Gas have set about with implementation of a wide variety of strategies in their production oriented second phase. The Kern County operation represents just one aspect of this as others will follow.


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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