Falcon Oil & Gas Ltd. holds Annual & Special Shareholder meeting

10 December 2015 - Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG, ESM: FAC) (The "Company" or "Falcon") held its Annual & Special Shareholder meeting in Dublin yesterday.

All of the proposed resolutions were approved with the exception of a special resolution put forward to require shareholders to disclose to the Corporation their acquisition of voting or equity securities of the Corporation that would constitute 3% or more. The full text of each resolution was included in the notice of the meeting circulated to shareholders in advance of the Annual & Special Shareholder meeting.

The management team made a presentation which will be available on the Company's website shortly (www.falconoilandgas.com). There was no new material information disclosed in this presentation.

For further information, please contact:

CONTACT DETAILS:

Falcon Oil & Gas Ltd. +353 1 417 1900

Philip O'Quigley, CEO +353 87 814 7042

Michael Gallagher, CFO +353 1 417 0814

John Craven Non-Executive Chairman +353 1 417 1900

Davy (NOMAD & Joint Broker)

John Frain / Anthony Farrell +353 1 679 6363

GMP Securities Europe LLP (Joint Broker)

Rob Collins / Emily Morris +44 20 7647 2800

CAMARCO

Billy Clegg +44 20 3757 4983

Georgia Mann +44 20 3757 4980

About Falcon Oil & Gas Ltd.

Falcon Oil & Gas Ltd 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 focused in Australia, South Africa and Hungary. Falcon Oil & Gas Ltd is incorporated in British Columbia, Canada and headquartered in Dublin, Ireland with a technical team based in Budapest, Hungary.

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

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.

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.