SOURCE: Titan Oil & Gas, Inc.

December 08, 2010 09:30 ET

Titan Oil & Gas, Inc. Provides Corporate Update

LAS VEGAS, NV--(Marketwire - December 8, 2010) -  Titan Oil & Gas, Inc. ("Titan") (OTCBB: TNGS) is pleased to provide its shareholders with an update on the progress of its corporate development activities. 

Between August and September 2010 Titan entered into seven Petroleum and Natural Gas ("PN&G") leases with the Alberta provincial government. Titan has acquired interests in a total land package covering 4,428 acres in southeastern Alberta. 

Included in the leases acquired by Titan are projects located in the Atlee-Buffalo, Bow Island, Eyremore, Retlaw and Taber areas of the province.

"We believe the potential for our land is significant, and we plan on carrying out an exploration program to advance our projects in a timely manner," says Jarnail Dhaddey, President of Titan.

In April 2010, the Company executed a sale and conveyance agreement for the acquisition of a 2.51255% working interest in an oil well located in Alberta, Canada. Also in April 2010 the Company acquired an interest in two PN&G leases in the province of Saskatchewan. The total area covered by Titan's portion of the leases is 326 acres. 

To date, the company has raised a total of $130,000 and is currently looking to raise additional funds to be used for the furthering of Titan's property acquisition and exploration plans. The company is currently examining a number of other assets in Alberta and hopes to add to its portfolio in the near future.

Titan Oil & Gas, Inc. is a publicly traded (OTCBB: TNGS) oil & gas company aggressively exploring and acquiring land in key petroleum-producing regions of Alberta. With projects located in areas of excellent infrastructure and high drilling activity, Titan plans on using the most current and proven cost effective technologies to generate long-term reserve and production growth while maximizing shareholder value. For more information on Titan Oil & Gas, please visit http://www.titanoilinc.com.

This announcement contains forward-looking statements which involve risks and uncertainties that include, among others, limited operating history, risks related to petroleum exploration, limited access to operating capital, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. More information is included in our filings with the Securities and Exchange Commission which may be accessed through the SEC's web site at http://www.sec.gov.

Contact Information