Oct. 13, 2009 (PR Newswire) --
DENVER, Oct. 13 /PRNewswire-FirstCall/ -- Falcon Oil & Gas Ltd. (TSXV: FO) ("Falcon" or the "Company"), a global energy company focused on acquiring, exploring and developing large acreage positions of unconventional and conventional oil and gas resources, today announced that all three parties of the Production and Development Agreement in the Hungarian Mako Trough -- ExxonMobil affiliate Production Ventures East Hungary Kft ("ExxonMobil"), Hungarian oil and gas firm MOL and Falcon -- have agreed to fracture stimulate another section in the Foldeak-1 well within the Szolnok Formation.
This operation will use the remaining balance of the Initial Work Program budget. The parties will address next steps after evaluating the results of the Stage 3 fracture stimulation operations.
About Falcon Oil & Gas Ltd.
Falcon Oil & Gas Ltd. is an international oil and gas exploration and production company, headquartered in Denver, Colorado, incorporated in British Columbia, Canada, and trading on the TSX Venture Exchange under the symbol "FO." The Company specializes in the business of conventional and unconventional oil and gas exploration and production and holds interests in prospective properties in Hungary and Australia. The Company is focused on discovering, acquiring, and maturing a globally diversified portfolio of drilling opportunities with a goal of maximizing shareholder value through strategic relationships. Additional information concerning Falcon Oil & Gas Ltd. is available at www.falconoilandgas.com. Investor inquiries may be directed to investor@falconoilandgas.com.
In the interests of providing Company shareholders and potential investors with information regarding the Company, including the Company's assessment of its and its subsidiaries' future plans and operations, certain statements included in this press release may constitute forward-looking information or forward looking statements (collectively, "forward-looking statements"). All statements contained herein that are not clearly historical in nature are forward-looking, and the words "anticipate", "believe", "expect", "estimate" and similar expressions are generally intended to identify forward-looking statements.
