First Titan Corp. says that the company's lease near South Lake Charles, La., is now being prepped for drilling. With all necessary permits and financing in place, FTTN now expects drilling to begin at the site in the first week of April.

First Titan is highly optimistic about the new well's production potential. The well location is in Calcasieu Parish, La., in an oil field where wells have already produced 21.3 billion cubic feet of gas and 1.7 million barrels of crude. Intrepid has determined that substantial up-dip reserves remain in two fault blocks there.

Before drilling can commence, a location must be staked, built and rigged up. With much of the site work at South Lake Charles set to begin on Monday, FTTN and Intrepid Drilling, its partner on the project, are working to schedule a drilling rig to spud the 15,300-foot well next month.

Tags: First Titan Corp.