DENVER, April 24 /PRNewswire-FirstCall/ -- Falcon Oil & Gas Ltd. (TSXV: FO) has announced that Dr. Gyorgy Szabo has been appointed to Falcon's board of directors concurrently with the acceptance by Falcon of the resignation of Allan Laird. Dr. Szabo's appointment is effective immediately, but remains subject to approval by the TSX Venture Exchange. Dr. Szabo is a widely recognized authority in the Hungarian and international petroleum industry, who has distinguished himself in scientific research, daily field operations, and professional management. In addition to being a university professor, Dr. Szabo has overseen the design and implementation of the deepest HP-HT well ever drilled in Hungary. In 1991 he was personally in charge of successful fire control and well abandonment operations by Hungarian teams in Kuwait. In Hungary, for many years Dr. Szabo has strongly promoted exploration targeting basin centered gas accumulations. He was instrumental in the privatization and the strategy related to the capitalization and structure of Hungary's former National Oil Corporation (presently MOL), as well as the landmark listing of the company on domestic and international securities exchanges in 1995. The largest petroleum company in East Central Europe, MOL has since experienced wide acceptance by the investment community. Dr. Szabo graduated from Miskolc University and received a degree in petroleum engineering in 1963. He received his Ph.D. in 1975. "On behalf of Falcon and the other members of Falcon's board, I would like to take this opportunity to welcome Dr. Gyorgy Szabo to Falcon's board," stated Marc A. Bruner, Falcon's President, Chief Executive Officer and Chairman of the Board. Mr. Bruner also commented that "Dr. Szabo's understanding of Falcon's operations from a technical perspective, and his extensive experience with the oil and gas industry in Hungary and Europe generally will be of tremendous benefit to Falcon." Mr. Bruner also expressed his gratitude to Allan Laird, stating that "I would like to thank Allan, on behalf of Falcon and the other members of Falcon's board, for the contribution he has made to Falcon during his tenure as a director of Falcon." About Falcon Oil & Gas Ltd. Falcon Oil & Gas Ltd. is a British Columbia corporation which is in the business of oil and gas exploration and production. It has operations in Hungary through its wholly-owned subsidiary TXM Oil and Gas Exploration, and in Romania through its wholly-owned subsidiary JVX Energy Corporation. Further information about Falcon Oil & Gas Ltd. is available at http://www.falconoilandgas.com/. Contacts: Falcon Oil & Gas Ltd. Marc A. Bruner President, CEO and Chairman Evan Wasoff CFO (303) 893-1800 United States CTA Public Relations Bevo Beaven Vice President/General Manager (303) 665-4200 United Kingdom 4C Burvale Carina Corbett, John Carrick Smith Directors 020-7907 4760 / 4761 The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has in no way passed upon the merits of the above-described transaction and has neither approved nor disapproved the contents of this press release. DATASOURCE: Falcon Oil & Gas Ltd. CONTACT: Marc A. Bruner, President, CEO and Chairman, or Evan Wasoff, CFO, both of Falcon Oil & Gas Ltd., +1-303-893-1800; or United States, Bevo Beaven, Vice President/General Manager of CTA Public Relations, +1-303-665-4200, for Falcon Oil & Gas Ltd.; or United Kingdom, Directors, Carina Corbett, 020-7907 4760, or John Carrick Smith, 020-7907 4761, both of 4C Burvale, for Falcon Oil & Gas Ltd. Web site: http://www.falconoilandgas.com/

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