Falcon Oil & Gas Ltd. comments on recent trading activity

Tuesday, Nov 20, 2012

Falcon Oil & Gas Ltd. (TSX VENTURE:FO), ("Falcon" or the "Company"), the international oil and gas exploration and production company focused on unconventional and conventional oil and gas exploration and producing assets in Hungary, Australia and South Africa, notes some irregular trading activity of its common shares that took place on November 15, 2012.

The trades in question ranged in price between $0.11 and $0.115, as compared to the closing price of $0.215 on November 14, 2012. The Company has brought the trades in question to the attention of the Investment Industry Regulatory Organization of Canada ("IIROC"), and has been advised by IIROC that normal procedures will be followed in response to the Company's concerns.

Falcon wishes to confirm that management of the Company is unaware of any specific reason, other than general market conditions, for the recent significant decrease in the Company's share price. In particular, there have been no corporate developments or events to support this unusual activity.

Source: Marketwire

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