Mr. Philip O'Quigley reports

DIRECTOR PURCHASE OF COMMON SHARES OF FALCON

A director of Falcon Oil & Gas Ltd. has purchased 200,000 common shares in Falcon. Details of the respective purchases are included in the attached table.

About Falcon Oil & Gas Ltd.

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

We seek Safe Harbor.