Burlingame Asset Management Expresses Disappointment with Falcon Oil & Gas

    Burlingame Expects Falcon to Proceed with Rescheduled Meeting

<p><location>SAN FRANCISCO</location>, <chron>Dec. 15</chron> /CNW/ -- Burlingame Asset Management, LLC ("Burlingame"), which exercises control over approximately 17.5% of the outstanding common shares of Falcon Oil & Gas Ltd. ("Falcon"), wishes to publicly express its disappointment that the annual and special meeting of the shareholders of Falcon held on <chron>December 10, 2009</chron> in <location>Vancouver</location>, British Columbia was abruptly adjourned to <chron>December 22, 2009</chron> with no advance notice to shareholders and for no stated business reason.</p>
<p><person>Blair Sanford</person>, the managing member of Burlingame, said, "A number of shareholders, us included, invested both time and money in order to attend the meeting and it is of great concern to us that the scheduled business was not dealt with, without any warning or justification given to the meeting by management.  We fully expect Falcon to proceed with the rescheduled meeting, and reserve the right to take all steps necessary to ensure that Falcon's shareholders are not disenfranchised of their rights."</p>


For further information: For further information: Roland Tomforde, +1-212-232-2222, for Burlingame Asset Management, LLC

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