Texas-Based Geophysicists State Falcon Prospect Could Contain 200 BCF of Natural Gas Reserves.HOUSTON -- Falcon Natural Gas Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :FNGC FNGC Fairfax National Golf Club (Centreville, VA) ) ("Falcon"), announced today that it has received geophysicist consulting work done on its natural gas prospects in Southern Texas. The summary, prepared by Don W. Frazier, Geophysicist, and Robert St. John, Geophysicist, covers only the 800 acres that Falcon has already acquired and does not cover the additional acreage it is currently securing under contract. The executive summary states that Falcon Natural Gas has potential reserves of approximately 200 BCF BCF Billion Cubic Feet BCF Bioconcentration Factor BCF British Chess Federation BCF British Coatings Federation BCF Breast Cancer Fund BCF Bank Credit Facility BCF Bulked Continuous Filament BCF British Cycling Federation BCF Boeing Converted Freighter of natural gas with a current market value of $1.25 billion based on current natural gas prices before consideration of exploration and development expenses. The report draws analogies from the nearby Bob West field where the ultimate recoverable reserves are estimated to be 1 trillion cubic feet of gas. The report will be made available to the public on the company website during the course of next week. Don Frazier also states that Falcon will need 4 to 5 wells to develop the field and each could have a potential flow rate of 10 million cubic feet per day of natural gas. Frazier and St. John's report states that this prospect has an extremely high probability of success and believes that Falcon's prospect "will most likely be the next giant field discovered in the U.S." "The East Bob West Prospect in Starr Co., Texas, should be a major gas discovery. The structural attitude of the sands is ideal for entrapment entrapment, in law, the instigation of a crime in the attempt to obtain cause for a criminal prosecution. Situations in which a government operative merely provides the occasion for the commission of a criminal act (e.g. of major gas reserves. Major gas fields lie just to the west (Bob West Field) and just to the north (Lopeno) and along the same trapping fault. Reserves are expected to be 200 BCF (approx. $1.25 billion before exploration and development costs) and can be recovered by drilling 4 to 6 wells," said Don W. Frazier, Geophysicist. About Don W. Frazier, Inc. - Geophysical and Geological Consulting Don W. Frazier has been in the geological-geophysical consulting business since August 1974. He has been involved in generating oil and gas prospects for major and independent oil and gas companies for forty-three (43) years and has a significant track record of success in finding hydrocarbons independently and with others. He has been responsible for finding over 2 trillion cubic feet of gas (2 TCF See Trenton Computer Festival. ) in the last 25 years. He has a Master's Degree from the University of Houston and early in his career worked for Exxon, Texaco and the Union of California. He has been Chief Geophysicist for two independents and is a leader in utilizing computer techniques to cut risk in drilling. His experience is worldwide, having just completed an exploration and drilling development in Kazakhstan, and others in Australia, the North Sea and Brazil, to name a few. He has worked in every major basin in the U.S. and Alaska. About Falcon Natural Gas Corp. Falcon is a Houston-based natural gas exploration company. The company is engaged in the acquisition and exploration of commercial prospects in the Gulf Coast region of Southern Texas. Falcon's President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Alan Aitchison, has in excess of 15 years of blue chip oil services and consulting experience with major firms such as Schlumberger (NYSE NYSE See: New York Stock Exchange :SLB SLB Solomon Islands (ISO Country code) SLB Schlumberger Ltd. (oil field services firm) SLB Server Load Balancing SLB Sport Lisboa e Benfica (soccer) ), BP-British Petroleum (NYSE:BP) and Petrobras (NYSE:PBR PBR Pre-Budget Report PBR Pabst Blue Ribbon PBR Policy Based Routing PBR Payment by Results (UK hospital funding) PBR Permit by Rule PBR Plant Breeder's Rights PBR Performance Based Ratemaking PBR Partition Boot Record ). He brings management know how and the vital technical expertise needed to explore the potential prospects that Falcon has acquired and bring them in production. For more information visit www.falcongas.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for Forward-Looking Statements: This release contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, including, without limitation, expectations, beliefs, plans and objectives regarding the potential transactions and ventures discussed in this release. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the risks inherent in oil & gas exploration, the need to obtain additional financing, the availability of needed personnel and equipment for future exploration and development, fluctuations in gas prices, and general economic conditions. |
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