Falcon Oil & Gas Ltd. To Host Quarterly Investor Conference Call

Budapest, Hungary – August 10, 2007 – Falcon Oil & Gas Ltd. (TSXV: FO) ("Falcon" or the "Company"), will host its first quarterly investor conference call on Wednesday, August 29, 2007 at 8:30 a.m. (ET) to provide updates on the Company’s financials, operations, well status and strategic partner discussions. Going forward, Falcon will be holding investor conference calls on a quarterly basis.

The conference call will be available live via telephone. To participate in the conference call within the U.S. and Canada, dial (866) 688-0039. To participate in the conference internationally, dial (706) 679-3130. The conference call will also be broadcast live on the Internet and may be accessed at www.falconoilandgas.com. The web cast will be archived on the Company’s website.

The conference call will be available for replay via telephone beginning at 12:00 p.m. (ET) on Wednesday, August 29 2007, until Wednesday, September 12, 2007, at 11:59 p.m. (ET). To listen to a replay of the conference within the U.S. and Canada, dial (800) 642-1687 or internationally (706) 645-9291. The replay code is 13162665.

About Falcon Oil & Gas Ltd.

Falcon Oil & Gas Ltd. is a British Columbia corporation which is in the business of oil and gas exploration and production. It has operations in Hungary through its wholly-owned subsidiary TXM Oil and Gas Exploration, and in Romania through its wholly-owned subsidiary JVX Energy Corporation. Further information about Falcon is available at www.falconoilandgas.com.

Contact:
Weber Shandwick Worldwide
Peter Duda
+1 (212) 445-8213

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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