Falcon Natural Gas Corp. Provides Update on Drilling Operation at DB3 PUD Prospect

Business Wire, March 7, 2005

HOUSTON -- Falcon Natural Gas Corp. (OTCBB:FNGC), announced today that the Company is finalizing its decision on which contractor will drill the Wyandotte PUD well at the 17,500 ft Lower DB3 prospect.

The prospect is located at the Avoca Minerals property in St. Mary Parish, Louisiana, one of the richest natural gas producing areas in North America. It is classified as a PUD and has 20 BCF of proven-undeveloped gas reserves.

"We are very excited to be at the final stage of commencing our exploration activities," said Fred B. Zaziski, Falcon's CEO. "Falcon aims at choosing the best possible option with particular regard to lead time and previous drilling experience in the area. Based on the geophysical data available, we expect that this well will generate substantial cash flow for the Company. This is why it is very important for us to have it producing as early as possible."

A month ago Falcon signed a Project Evaluation and Economic Study Contract with International Energy Advisors Moyes & Co. to evaluate the Wyandotte Field. The final report summarizing the findings will be presented to Falcon on Wednesday, March 9. A downloadable copy of the report will be available on Falcon's website at www.falcongas.com.

About Falcon Natural Gas Corp.

Falcon Natural Gas Corp. is a Houston, Texas based Natural Gas exploration company. The company is focused on the acquisition and exploration of commercial prospects in onshore areas of the United States of America. For more information visit www.falcongas.com.

Safe Harbor for Forward-Looking Statements: This release contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act 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 the future exploration and development, fluctuations in gas prices, and general economic conditions.