FO: Falcon Oil & Gas Ltd. Enters Into Production And Development Agreement With ExxonMobil On Falcon’s Project In Hungary

"DENVER, April 10, 2008 – Falcon Oil & Gas Ltd. (TSXV: FO, “Falcon”) announced today that it and its wholly owned subsidiary, TXM Exploration and Production LLC, have entered into a Production and Development Agreement with Exxon Mobil Corporation affiliate Esso Exploration International Limited (ExxonMobil) under which Falcon and ExxonMobil will become joint owners in a specified portion (the “Contract Area”) of Falcon’s long-term production license (the “Production License”) in the Mako Trough, Hungary. ExxonMobil will operate the Contract Area."

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