NewsFalcon Oil & Gas Ltd. Announces the Resignation of a Director
5/30/2008 6:32:06 AM - Canada NewsWire
DENVER, May 30, 2008 (Canada NewsWire via COMTEX News Network) --
FalconOil & Gas Ltd. (TSXV: FO) ("Falcon") announced that it hasreceived, and has accepted, the resignation of one of its directors,Mr. Igor Akhmerov, effective May 29, 2008. In his resignation, Mr.Akhmerov indicated that his decision to resign was based on his need tofocus on the development of Avelar Energy Group, a corporation of whichMr. Akhmerov is the Chief Executive Officer.
Marc A. Bruner,Falcon's President, Chief Executive Officer and Chairman of the Boardstated, "I would like to thank Igor, on behalf of Falcon and the othermembers of Falcon's board, for the valuable contribution he has made toFalcon as a director during this critical time in Falcon's history."
<< About Falcon Oil & Gas Ltd. >>
FalconOil & Gas Ltd. is a British Columbia corporation which is in thebusiness of oil and gas exploration and production. It has operationsin Hungary through its wholly-owned subsidiary TXM Exploration andProduction, LLC, and in Romania through its wholly-owned subsidiary JVXEnergy Corporation. Further information about Falcon is available athttps://www.falconoilandgas.com.
<< Falcon Oil & GasLtd. Investor and Public Relations: Alexander Hubbard-Ford +1303-951-1116 >>
In the interests of providing Companyshareholders and potential investors with information regarding theCompany, including the Company's assessment of its and itssubsidiaries' future plans and operations, certain statements includedin this press release may constitute forward-looking information orforward looking statements (collectively, "forward-lookingstatements"). All statements contained herein that are not clearlyhistorical in nature are forward-looking, and the words "anticipate","believe", "expect", "estimate" and similar expressions are generallyintended to identify forward-looking statements. Similarly,forward-looking statements in this press release include, but are notlimited to anticipated developments of the Company's drilling projectin Hungary and the timing thereof, the Company's drilling project inRomania and the timing thereof, capital investment levels and theallocation thereof, pipeline capacity, government royalty rates,reserve and resources estimates, the level of expenditures forcompliance with environmental regulations, site restoration costsincluding abandonment and reclamation costs, exploration plans,acquisition and disposition plans including farmout plans, net cashflows, geographic expansion and plans for seismic surveys. In addition,please note that statements relating to "reserves" or "resources" aredeemed to be forward-looking statements, as they involve the impliedassessment, based on certain estimates and assumptions, that thereserves and resources described can be profitably produced in thefuture. Such statements represent the Company's internal projections,estimates or beliefs concerning, among other things, an outlook on theestimated amounts and timing of capital expenditures, anticipatedfuture debt levels and incentive fees or revenues or otherexpectations, beliefs, plans, objectives, assumptions, intentions orstatements about future events or performance. These statements areonly predictions. Actual events or results may differ materially.Although the Company believes that the expectations reflected in theforward-looking statements are reasonable, it cannot guarantee futureresults, levels of activity, performance or achievement since suchexpectations are inherently subject to significant business, economic,competitive, political and social uncertainties and contingencies. Manyfactors could cause the Company's actual results to differ materiallyfrom those expressed or implied in any forward-looking statements madeby, or on behalf of, the Company and the foregoing list of importantfactors is not exhaustive. These forward-looking statements made as ofthe date hereof disclaim any intent or obligation to update publiclyany forward-looking statements, whether as a result of new information,future events or results or otherwise. Company shareholders andpotential investors should carefully consider the information containedin the Company's filings with Canadian securities administrators athttps://www.sedar.com before making investment decisions with regard tothe Company. The TSX Venture Exchange does not accept responsibilityfor the adequacy or
accuracy of this release.
SOURCE: Falcon Oil & Gas Ltd.
Investorand Public Relations, Alexander Hubbard-Ford of Falcon Oil & GasLtd., +1-303-951-1116 Web Site: https://www.falconoilandgas.com
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