Falcon Natural Gas Expands Executive Team

Falcon Natural Gas Corp. announced that Fred B. Zaziski has been appointed new President and Chief Executive Officer of Falcon, succeeding Alan Aitchison, the Company's current President & CEO. Mr. Aitchison will head the efforts of the advisory board.

"Developing the Company's strategy and setting the stage to build a leading independent player in the natural gas exploration field has been a real achievement," said Alan Aitchison. "Family considerations lead me to transition out of the CEO role. Falcon will continue to be a priority in my activities. Fred's decades of industry expertise and enthusiasm will make a significant contribution to the Company's growth."

Mr. Zaziski brings to the company a depth of domestic and international experience in the oil and gas industry. Prior to joining Falcon, he worked as Chief Operating Officer for ComOxy, a Houston-based firm specializing in the up-stream and down-stream project management with emphasis on refinery and drilling operations.

During his distinguished career, Mr. Zaziski also held various executive and management positions with National Petroleum Technology Company, Saudi Arabia, and Halliburton Energy Services (NYSE:HAL) in the Middle East, West Africa, Europe and the United States. He successfully managed multi-million operating budgets and participated in developing business strategies and exploration technology.

"I am very excited by the opportunity to join Falcon," said Mr. Zaziski. "Falcon has assembled properties, a cost-effective strategy, and the financial ability to capitalize on the great demand for natural gas. I am committed to strengthening the company's position in the market and maximizing the investment value for our shareholders."

Mr. Zaziski holds Masters of Business Administration, Organizational Management, and Masters of International Business from Cairo University, Cairo, Egypt, and BS, Petroleum Engineering, from the Pennsylvania State University. He is also a member of Society of Petroleum Engineers, American Petroleum Institute and The American Society of Mechanical Engineers.

Mr. Aitchison has 20 years of experience in the oil and gas industry. Prior to joining Falcon, he served as Projects Business Development Manager with Schlumberger Limited (NYSE: SLB), the world's leading oilfield services company. During his distinguished career, Mr. Aitchison has held management positions with other large multinational companies, such as British Petroleum p.l.c., Petrobras S.A., and Lasmo Oil Ltd.

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