Falcon Oil & Gas Ltd. Announces the Filing ...

FOR:  FALCON OIL & GAS LTD.

TSX VENTURE SYMBOL:  FO
AIM SYMBOL:  FOG

April 15, 2013

Falcon Oil & Gas Ltd. Announces the Filing of Its 2012 Financial Statements, MD&A, Reserves Data and Engagement
of Proactive Investors

DUBLIN, IRELAND--(Marketwired - April 15, 2013) - Falcon Oil & Gas Ltd. (TSX VENTURE:FO)(AIM:FOG)(ESM:FAC)
("Falcon") announces that it has filed its audited financial statements for the year ended December 31, 2012,
the accompanying management's discussion and analysis ("MD&A), year ended December 31, 2012 dated April 12,
2013 and the Statement of Reserves Data and Other Oil and Gas Information (National Instrument 51-101 Forms 51-
101F1, 51-101F2 and 51-101F3) with the relevant provincial securities regulators. These filings are available
for review at www.sedar.com. The audited financial statements and MD&A are also available on Falcon's website
www.falconoilandgas.com.

Falcon has engaged Proactive Investors North America ("Proactive North America") to organise a number of group
investor presentations in North America during the month of April, 2013 at a cost of $26,000. In addition,
Falcon has appointed Proactive Investors UK LTD ("Proactive UK") to provide various editorial content for a
period of 12 months commencing in April 2013. Falcon will also present at a Proactive One2One Forum in London,
UK on 2nd May 2013. The total fee paid to Proactive UK will be $14,000.

Proactive Investors is a multi-media news organisation, investor portal and events management business which
operates financial websites with news, comment and analysis on listed companies as well as running regular
investor forums.

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.

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.

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FOR FURTHER INFORMATION PLEASE CONTACT:

Falcon Oil & Gas Ltd.
Head Office
[phone]

OR

Falcon Oil & Gas Ltd.
Philip O'Quigley
CEO
[phone]
www.falconoilandgas.com

OR

FTI Consulting
Billy Clegg
[phone]

OR

FTI Consulting
Edward Westropp
[phone]

OR

FTI Consulting
Natalia Erikssen
[phone]

OR

J&E Davy (NOMAD)
John Frain / Anthony Farrell
[phone]

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.

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Falcon Oil & Gas Ltd.