TORONTO, ONTARIO--(Marketwire - July 27, 2012) - Falcon Oil & Gas Ltd. (TSX VENTURE:FO), (the "Company") the Toronto listed and Dublin headquartered company focussed on unconventional oil and gas exploration and producing assets in Hungary, Australia and South Africa, announces the appointment of Ms Carol Law as Head of Technical and Commercial Operations to the Company with immediate effect.

Carol, who is a Geologist by profession, has over 28 years' experience in the oil and gas industry and over the course of her career was a member of teams managing and working projects in Ghana (Jubilee), Brazil (multiple Campos Basin discoveries), Alaska (Nikaitchuq), China (Bohai Bay) plus Angola, GOM, and numerous other areas around the world.

Most recently, Carol was East Africa Exploration Manager for Anadarko Petroleum with responsibility for the giant gas discovery in the Rovuma Basin, offshore Mozambique, in Area 1 block which has recoverable gas resources estimated at between 30 and 60 Tcf.

Commenting on the announcement, Chief Executive Officer, Philip O'Quigley said:

"I am delighted to welcome Carol to the Falcon team as Head of Technical and Commercial Operations. With her wealth of technical and commercial experience Carol will be a great addition to Falcon's senior management team."

John Craven, Chairman said:

"Carol and I worked well together as we explored and appraised Area 1 block offshore Mozambique over the last three years. I much look forward to working with her in the future."

About Falcon Oil & Gas Ltd.

Falcon Oil & Gas Ltd. is an international oil and gas exploration and production company, Toronto listed under the symbol "FO." It is headquartered in Dublin, Ireland, with offices in Budapest, Hungary.

The Company is focussed on unconventional and conventional oil and gas exploration and production, and holds producing assets in three major underexplored basins in Australia, Hungary, and South Africa.

Falcon Oil & Gas has a strong and experienced management team. John Craven, Chairman and Chief Executive Officer of Cove Energy, is a petroleum geologist with thirty-seven years in senior technical and executive positions in major and junior oil and gas companies. Philip O'Quigley, Chief Executive Officer, has over 20 years' experience in the oil and gas industry, which spans a number of London and Dublin listed E & P companies. Prior to joining Falcon Oil & Gas he was the Finance Director for Providence Resources, an Irish oil and gas exploration and production company.

For further information on Falcon Oil & Gas Ltd. please visit www.falconoilandgas.com.