DUBLIN, IRELAND -- (Marketwired) -- 04/28/14

Falcon Oil & Gas Ltd. (TSX VENTURE: FO)(AIM: FOG)(ESM: FAC) ("Falcon" or the "Company") notes the recent movement in its share price on the TSX Venture Exchange and confirms that it is unaware of any matter that would cause this share price movement.

As previously announced, Falcon is well advanced in its discussions and is very confident of securing an attractive Farm-out of its Beetaloo Basin permits with a large oil and gas company. A further announcement will be made in due course.

About Falcon Oil & Gas Ltd.

Falcon is an international oil & gas company engaged in the acquisition, exploration and development of conventional and unconventional oil and gas assets, with the current portfolio spread between Australia, South Africa and Hungary. Falcon is incorporated in British Columbia, Canada and headquartered in Dublin, Ireland with a technical team based in Budapest, Hungary.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain information in this press release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Falcon assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Falcon.

Additional information identifying risks and uncertainties is contained in Falcon's filings with the Canadian securities regulators, which filings are available at www.sedar.com.

Contacts:
Falcon Oil & Gas Ltd.
+353 1 417 1900
www.falconoilandgas.com

Falcon Oil & Gas Ltd.
Philip O'Quigley, CEO
+353 87 814 7042

Falcon Oil & Gas Ltd.
John Craven Non-Executive Chairman
+353 1 417 1900

FTI Consulting
Edward Westropp
+44 207 269 7230

Davy (NOMAD & Joint Broker)
John Frain / Anthony Farrell
+353 1 679 6363

GMP Securities Europe LLP (Joint Broker)
Rob Collins / Liz Williamson
+44 20 7647 2800

Cantor Fitzgerald Europe (Joint Broker)
David Porter / Richard Redmayne
+44 207 894 7000