Mr. Philip O'Quigley reports

FALCON OIL & GAS LTD. ANNOUNCES ADMISSION TO TRADING ON AIM AND ESM

Falcon Oil & Gas Ltd.'s enlarged issued share capital has been admitted to trading on the Alternative Investment Market (symbol: FOG) and the Enterprise Securities Market (symbol: FAC). Trading on AIM and ESM will commence at 8 a.m. today. This admission follows the completion of a placing of 120,381,973 new common shares in the capital of the company at 14 pence per share to raise approximately $25-million (U.S.) (16.9 million pounds) before expenses.

None of the placing shares may be sold, transferred, hypothecated or otherwise traded on or through the facilities of the TSX Venture Exchange or otherwise in Canada or to the benefit of a Canadian resident until July 29, 2013.

Philip O'Quigley, chief executive officer, of Falcon commented: "I am pleased to announce the start of trading in our shares in London and Dublin, following a successful placing in which we raised approximately $25-million (U.S.). We are pleased to offer our new and existing investors an opportunity to grow with us as we seek to realize the value potential within our diversified and large acreage positions in Australia, South Africa and Hungary."

We seek Safe Harbor.