Mr. Philip O'Quigley reports

FILING OF INTERIM FINANCIAL STATEMENTS

Falcon Oil & Gas Ltd. has filed its interim financial statements for the three and six months ended June 30, 2024, and the accompanying management's discussion and analysis. All dollar amounts are expressed in United States dollars, unless otherwise indicated.

This release should be read in conjunction with the complete, unaudited, unreviewed interim financial statements and the accompanying MD&A for the three and six months ended June 30, 2024, which are available on SEDAR+ and on Falcon's website.

Financial highlights and other financial updates:

• Debt-free with cash of $11.5-million at June 30, 2024 (Dec. 31 2023 -- $8-million);
• Continued focus on cost management and the efficient operation of the portfolio.

About Falcon Oil & Gas Ltd.

Falcon Oil & Gas is an international oil and gas company engaged in the exploration and development of unconventional oil and gas assets, with the current portfolio focused in Australia, South Africa and Hungary. Falcon Oil & Gas is incorporated in British Columbia, Canada, and headquartered in Dublin, Ireland, with a technical team based in Budapest, Hungary.

We seek Safe Harbor.