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Falcon Oil & Gas Ltd (OTC: FOLGF | Quote | Chart | News | PowerRating) a development stage company, engages in the acquisition, exploration, and development of petroleum and natural gas properties in Canada, Hungary, Romania, Australia, and the United States. The company holds two petroleum and natural gas exploration licenses, the Tisza License and the Mako License in south central Hungary; 50% working interests in four exploration permits in the Northern Territory, Australia; and working interests in four producing petroleum and natural gas wells in Alberta, Canada. It also has a farmout agreement to earn 75% interest on a coalbed methane property in the Jiu Valley of Romania; and owns a 25% non-operating working interest in five wells in the Buckskin Mesa area in the Piceance Basin, Colorado. With 566.91 million shares outstanding and 309,700 shares declared short as of April 2009, there is a failure to deliver in shares of FOLGF. According to quarterly data provided by the SEC, there were still 5,124,000 shares of FOLGF that were failing-to-deliver as of September 19, 2005.