Titan Oil and Gas Signs Green Project Acquisition Agreement Following Release of Business Plan
Titan Oil and Gas, Inc. (Pink Sheets:TNOG) has signed an acquisition agreement for an operational revenue-generating closed-loop green project in the Pacific Northwest. Due to the nature of the agreement, Titan will not be able to release extensive detail or the name of the Company until the proxy has been approved. The acquisition will include a merger into a Titan majority-owned subsidiary (subject to acquisition) whereas additional working capital will be raised.
The acquisition will include city contracts for delivery of bio solids, several real estate properties where the nonpetroleum fertilizer (bio solids) will be deposited, a trucking company which currently has the city contracts to transport the bio solids, the energy crops that were just harvested including Camelina which has been contracted by British Petroleum (NYSE:BP), and the installation of up to 138 wind mills on one of the properties to join the wind farm already housed in the Columbia River Gorge. Assets currently booked by the Company prior to the acquisition of the Trucking Company exceed $1.7 M.
The release of Titan’s revised business plan reflects its focus on sustainable expansion regarding oil and gas as well as environmentally friendly renewable projects. The plan’s release was timed to coincide with finalizing the letter of intent regarding this environmentally friendly income-producing project. The project will need a final positive vote for the creation of the preferred shares so that the final terms of the agreement can be met by Titan Oil and Gas. The plan describes the need for an expansion of authorized capital so that Titan can follow through with this renewable energy project.
Business Plan Link: http://www.titanoilandgas.com/docs/TNOG-Business-Plan-8-21-08.pdf
We will soon be making available the proxy to all of our stockholders. The weight of your proxy will depend on the amount of shares you hold as of the record date, 09/15/08. The proxy will be made available on the homepage, www.titanoilandgas.com. If you have any questions regarding the proxy or need to provide your contact info to receive the proxy, please do not hesitate to contact management for any clarifications.
ABOUT TITAN OIL AND GAS, INC.
Titan is an energy company with interests in oil and gas development, drilling and production. Titan follows an aggressive business model, focusing on redevelopment of oil and gas fields with a history of production and, also, exploration of green projects and businesses such as biodiesel and wind power. For further information about Titan Oil and Gas, please visit our website at http://www.TitanOilandGas.com or blog at http://www.TitanOilandGas.com/wordpress.
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. Please read the full disclaimer here: http://www.TitanOilandGas.com/disclaimer.